Personal Finance Final Review

Front

Hannah mentions that one of her assets can be quickly turned into cash. What is she referring to?

Back

Liquidity

Front

What is the document called that transfers the title of a property after someone's passing?

Back

A will

Front

When should Isla, Elijah, and Aria start a retirement plan?

Back

At the beginning of their career.

Front

What does Arjun mean by calling it a 'bear market'?

Back

He means the stock market is decreasing steadily.

Front

James, Mason, and William are planning a trip. They need to manage their money for the trip. What is this called?

Back

Its a plan for managing money

Front

Isla wants to secure a debt with the equity in her home. What is this process called?

Back

Equity loan

Front

What is the 'Fair Credit Act' referring to in the context of business laws and regulations?

Back

A law that sets requirements for settling business disputes.

Front

What is the letter called that Ethan wrote to the credit card company to inform them about an incorrect charge on his credit card statement?

Back

Dispute letter

Front

What is the feeling called when someone regrets a purchase, as in the case of James who just bought a new car?

Back

buyer's remorse

Front

Avery, Luna, and Ethan are planning a school event. What should be their first step to manage any potential risks?

Back

Conducting a risk assessment