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Final Exam 2 > Final 2 > Flashcards

Final 2 Flashcards

0
Q

M2

A

M1+ money that may take a little time to obtain ( savings accounts, mutual funds etc)

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1
Q

M1

A

Money that can be accessed quickly ( coins, paper money, travelers checks etc)

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2
Q

M3

A

M2+ big deposits like institutional money market funds

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3
Q

The federal reserve chairman is responsible for what?

A

The US money supply

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4
Q

Types of law

A

Criminal law
Civil law
Business law

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5
Q

The need for laws

A

Laws are a key part o a civilized society, but must change with the times

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6
Q

Intranet

A

A company wide network closed to public access that uses internet-type technology.

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7
Q

Extranet

A

A semiprivate network that lets more than one company access the same information or allows people on different servers to collaborate

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8
Q

Key types of business information available

A

Business process information- point of sales
Physical-world observation (cameras, sensors)
Biological data- fingerprints
Public data- public sources
Data that indicates personal preferences- internet shopping

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9
Q

Examples of Administrative Agencies

A

The Federal Reserve Board
The Securities and Exchange commission
The Equal Employment Opportunity Commission
The Federal Trade Commission

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10
Q

Disability insurance

A

Low cost way of protecting yourself from lost wages due to an accident or prolonged illness

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11
Q

Umbrella Policy

A

Combining all your insurance ( life, health, homeowners and auto) from one company is less costly.

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12
Q

401K plans

A

An employer sponsored savings plan that allows you to deposit a set amount of pretax dollars tax free until withdrawal

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13
Q

Contrarian approach

A

Buying stock when everyone else is selling or vice versa

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14
Q

Lifetime earning of a family with a bachelors degree

A

About $1.6 million more than a family with high school diploma

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15
Q

Typical full time employee with 4 year degree

A

Earns about $50,000 which is 62% more than those with a high school diploma

16
Q

Health Maintenance Organization HMO

A

Offer a full range of healthcare benefits no bills or claim forms, but must have approval before medical treatment is provided

17
Q

Health Savings Account

A

Tax deferred accounts that allow people to save for medical cost such as prescription drug office visits etc

18
Q

What is enterprise risk management?

A

Procedures to minimize the chance of business failure due to unplanned events such as security breaches, terrorist, and natural disasters

19
Q

Cyberterrorism

A

The idea that terrorist hackers could shut down entire communication
The money supply
Electricity
Transportation

20
Q

Will

A

A document that names the guardian for minor children, states how you want your assets distributed and names the executor for your estate

21
Q

Executor

A

Person who assembles and values your estate, files income and other taxes and distribute assets,

22
Q

Three advantages to credit cards

A

Buy certain goods or rent a car
Easily track your expenses
More convenient than carrying cash or writing checks

23
Q

Building your financial base

A

Live frugally
First major purchase a low priced home
Buy for long term and don’t live beyond your means

24
Q

Professional liability insurance

A

Malpractice insurance for people found liable for professions negligence

Doctors

25
Q

Insurable risks

A

A risk that the typical insurance company will cover

26
Q

Network computing systems

A

The tasks are performed by personal computers using information stored in databases controlled by a server

Aka client/ server systems
Expensive to maintain and upgrade

27
Q

Disadvantages of using credit cards

A

Can make it easy to pile up a large amount of debt quickly

28
Q

Benefits of buying a home

A

Good way of forcing yourself to save

Interest on home loan is tax deductible

29
Q

Three key optimal return on your home

A

Location, location, location

30
Q

Rules of indemnity

A

An insured person or organization can’t collect more ft an the actual loss from an insurable risk

31
Q

Two kinds of risk

A

Speculative and pure

32
Q

Speculative risk

A

A chance of either a profit or loss

Risk when starting a business

33
Q

Pure risk

A

Threat of loss with no chance of profit

Fire, theft etcetera

34
Q

Virus

A

A piece of programming code inserted into other programming that usually lies dormant until triggered, then causes unexpected events

35
Q

Phishing

A

Attempts to trick victims into giving important information to a bogus website.

Final Exam 2 (1 decks)

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