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Final Notecards Flashcards

1
Q

fee for instruction

A

tuition

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2
Q

the cost of a place to live

A

room

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3
Q

the cost of food

A

board

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4
Q

legal resident of the state in which the college is located

A

in-state resident

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5
Q

students who are not legal residents of the state in which the college is located

A

out-of-state students

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6
Q

an institution of higher learning that is operated and funded by the state in which it is located

A

public university

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7
Q

an institution of higher learning that is operated by a private organization

A

private university

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8
Q

type of student financial aid that you don’t have to repay

A

scholarships/grants

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9
Q

funds are given to students who have a documented need

A

need based

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10
Q

the government pays interest when you’re in school

A

subsidized

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11
Q

you pay all the interest

A

unsubsidized

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12
Q

adding the interest payments to the loan balance

A

capitalizing

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13
Q

What are the three financial aid programs you can apply for through FASFA?

A

Scholarships, grants, and loans

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14
Q

What are the other three sources of aid other than scholarships, grants, and loans?

A

Federal aid, State aid, Federal-Work Study Program

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15
Q

college that is approved of meeting certain standards

A

accredited

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16
Q

the teachers or professors

A

faculty

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17
Q

course of study

A

curriculum

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18
Q

people who have graduated from a certain school

A

alumni

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19
Q

students enroll in college classes and if they earn the passing grade, they earn credit that may be applied toward their high school diploma, a college degree or a certificate

A

dual enrollment/concurrent enrollment

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20
Q

participating in course activities and assignments whenever and from wherever it is convenient during the school week

A

asynchronous-mode course

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21
Q

you are informed by December whether or not you are accepted e

A

early-admissions policy

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22
Q

they make decisions as students apply

A

rolling-admissions policy

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23
Q

list of students who will be admitted if others choose not to come

A

waiting list

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24
Q

What are the basic factors that colleges use to judge an applicant’s suitability
for admission?

A

Scores, grades, extracurricular activities, interviews, admission essays, recommendations

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25
a standardized test that often helps with admission
entrance examination
26
widely used entrance exam, measures knowledge and academic skills students need for success in college
SAT
27
tests what the student has actually learned
aptitude/acheivement test
28
college entrance examination, alternative to the SAT
ACT
29
helps students get classes that would help them most
CPT
30
covers the same areas as SAT
Preliminary SAT
31
What is the main purpose of college entrance exams?
They help with admission
32
What are the two basic entrance exams used by colleges in the United States?
SAT and ACT
33
person who helps decide who to admit
admissions officer
34
official record of your grades
transcript
35
travel schedule
itinerary
36
graduate student who specializes in the course topic
teaching assistant
37
how you manage your money
personal finance
38
a document that outlines your monetary goals and how you plan to reach them
financial plan
39
money you earn
income
40
things you need to live
needs
41
things you don't have, but you want
wants
42
immediate access to funds for short term need
liquidity
43
a charge on loaned money
interest
44
interest on interest
compound interest
45
something that has value
asset
46
uncertainty to the outcome of an investment
risk
47
What are the six steps for developing a personal financial plan?
establish financial goals, consider your current financial position, identify evaluate alternatives to achieve your goals, select the best plan to achieve your goals, evaluate your plan, and revise your plan
48
a form on which you keep track of the money you deposit or withdraw
checkbook register
49
a list of transactions from your bank account over a period of time
account statement
50
a paper document saying how much money you deposited into what account
certificate of deposit
51
borrowing money with interest
loans
52
nonprofit bank owned by members
credit union
53
checking your checkbook register compared to the bank statement
balancing
54
converts a paper check into an electronic payment in store
conversion
55
a debit card for use at retail stores or cash withdrawals
prepaid debit card
56
What are the two major types of banking institutions? Explain the differences between them.
online - a way of managing banking transactions through your personal computer or electronic device not online- a real and physical bank that you can visit where you can talk to people about problems in person instead of having to call them
57
Distinctive name identifying a product or manufacturer
brand
58
a person who rents an apartment
tenant
59
apartment owner
landlord
60
come before taxes and other deductions
gross income
61
a payment to make sure you meet your obligations as a tenant
security desposit
62
income after taxes and other deductions
net income
63
the lender's charge on borrowing money
interest rate
64
the difference between market value and the unpaid balance
equity
65
What are the three Ps for eating on a budget?
plan, purchase, and prepare
66
legal responsiblity
liability
67
amount that you must pay before the insurance company pays anything
deductible
68
laws that make each person responsible for his or her own damages and injuries
no-fault
69
a way to protect your family and loved ones from financial losses
life insurance
70
person who will receive insurance benefits
beneficiary
71
policy that you buy to cover a certain period of time
term life insurance
72
provides coverage for your entire lifetime
whole life insurance
73
insurance for a specific period that accumulates savings for policy holdings during this period
universal life insurance
74
What are the differences between term and whole life insurance plans?
Term is only for a certain amount of time and whole life is for all life
74
What are the differences between term and whole life insurance plans?
Term is only for a certain amount of time and whole life is for all life
75
yearly interest rate
APR
76
the money you borrow
principal
77
a situation in which a court rules that a person is not able to pay his or her bills
bankruptcy
78
possessions that a borrower pledges in return for a loan
collateral
79
record of paying your bills
credit history
80
monthly rate
periodic rate
81
an interest rate that changes over time
variable rate
82
spending more than you earn
deficit spending
83
A sequence of rigorous academic and career or technical courses leading to an associate’s degree, baccalaureate degree and beyond, or an industry recognized certificate and/or license
career path
84
work you do to make a living
work
85
A chosen field of work that has the potential for continuous growth and advancement by incorporating your interests, skills, values, and strengths to provide long-term fulfillment
career
86
Process of making contacts and building relationships that can help you obtain leads, referrals, advice, information, and support
Networking
87
An inroad or route to information before it is widely known
lead
88
Website that provides a virtual community for people to share their daily activities or interests, or to widen their circle of professional acquaintances
social network
89
Eight distinct areas of intelligence that everyone possesses
Multiple intelligences
90
A technique for exploring the ways that your interests can be grouped into job categories so you can begin to select specific career paths to investigate.
Holland Interest Environments
91
The ability to create mental images and transform them into an art form or useful product
visual/spatial intelligence
92
Focuses on the use of language and words
verbal/linguistic intelligence
93
Focuses on the ability to be aware of patterns in pitch, sound, rhythm, timbre
musical/rhythmic intelligence
94
The ability to think abstractly, to problem solve, and to think critically
logical/mathematical intelligence
95
Ability to connect mind and body, often excelling at sports
bodily/kinesthetic intelligence
96
Ability to comprehend your own feelings
intrapersonal intelligence
97
Ability to comprehend others’ feelings
interpersonal intelligence
98
Ability to understand and work effectively in the natural world of plants and animals
naturalistic intelligence
99
Programs in which you can work part time in career fields in which you are interested while taking job-related courses at schoo
cooperative education (co-op) programs
100
A life coach who guides, advises, and advocates for you in your individual life path
mentor
101
Study at a college or university, perhaps starting at a community or junior college
higher education
102
Job that does not involve manual labor, generally not requiring protective clothing
white-collar job
103
Job that requires manual labor, requires protective clothing
blue-collar job
104
Evening or weekend courses for working adults who are not able to enroll in college full time
continuing and adult education
105
Formal education after you graduate college , gives in depth knowledge of your job career
graduate school
106
Subject area in which you want to focus on
major
107
What is the difference between a college and a university? Between a university and a community college?
Colleges are usually smaller teaching places that can give undergraduate degrees, community colleges give associate degrees and training certificates, and universities can give graduate degrees

Financial Planning (6 decks)

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