Financial Concepts Flashcards

Front

Fixed vs Variable expenses

Back

Understand the difference between fixed expenses (unchanging costs) and variable expenses (costs that fluctuate).

Front

Personal Net Worth formula

Back

Calculate personal net worth using the formula: total assets - liabilities.

Front

Endorsements for checks

Back

Learn about Blank, Restrictive, and Special endorsements for checks.

Front

Stop Payment of a check

Back

Understand the process and implications of stopping payment on a check.

Front

Liquidity

Back

Identify the most liquid asset when given a list of assets.

Front

Savings account vs CD

Back

Compare the features of a savings account and a certificate of deposit (CD).

Front

FDIC insurance

Back

FDIC insures deposits up to $250,000

Front

Simple vs Compounded interest

Back

Understand the difference between simple and compounded interest, and why more compounding periods in a year are better.

Front

Factors to consider when investing

Back

Consider risk, return, and liquidity when making investment decisions.

Front

Relationship between Risk and Return

Back

Understand the relationship between risk and return in investments.