SPS Final

Question 1

management of money

Answer 1

finance

Question 2

detailed summary about your income and expenses

Answer 2

budget

Question 3

amount of money you spend

Answer 3

expenses

Question 4

things you need to live

Answer 4

need

Question 5

things you don’t have, but want

Answer 5

want

Question 6

immediate access to funds for a short term need

Answer 6

liquidity

Question 7

borrowing money with interest

Answer 7

loan

Question 8

a paper document saying how much money you deposited into what account

Answer 8

deposit

Question 9

offering to lend money

Answer 9

credit

Question 10

a price for a service or commodity that includes all extra costs incidental to the item

Answer 10

unit price

Question 11

an agreement to pay rent and fulfill other obligations for a certain length of time

Answer 11

lease

Question 12

An assessment of how trustworthy you are paying bills

Answer 12

credit history

Question 13

income after taxes and other deductions

Answer 13

net income

Question 14

the difference between market value and the unpaid balance

Answer 14

equity

Question 15

the lender’s charge on borrowing money

Answer 15

Interest rate

Question 16

income before taxes and other deductions

Answer 16

gross income

Question 17

What does the acronym APR mean

Answer 17

annual percentage rate

Question 18

The money you borrow is the

Answer 18

Principle

Question 19

Another term for interest and APR is

Answer 19

Finance Charge

Question 20

bankruptcy

Answer 20

A situation in which a court rules that a person is not able to pay their bills

Question 21

collateral

Answer 21

Possessions (such as a home. Car, or savings) that a borrower pledges in return for a loan

Question 22

deficit spending

Answer 22

Spending more than you earn

Question 23

insurance

Answer 23

The means by which people protect themselves financially against losses or liability incurred as a result of unexpected events

Question 24

A contract that promises to pay for any loses

Answer 24

indemnity

Question 25

claim

Answer 25

Demand for payment in accordance with the policy

Question 26

Amount you must pay before the insurance company pays anything

Answer 26

deductible

Question 27

Money paid for each doctor visit or other health services

Answer 27

copayments

Question 28

A person who will receive insurance benefits

Answer 28

beneficiary

Question 29

The creating of a website replica in order to trick users into submitting personal, financial or password online

Answer 29

phishing

Question 30

Job

Answer 30

Work you do to make a living

Question 31

Career

Answer 31

Chosen field of work that has the potential for growth and advancement by incorporating your interest, values, skills, and strengths to provide long term fulfillment

Question 32

Networking

Answer 32

The process of making contacts and building relationships that can help you obtain leads, referrals, advice, information, and support

Question 33

The eight distinct area of intelligence everyone possesses

Answer 33

visual/spatial, intrapersonal, kinesthetic, intrapersonal, verbal/linguistic, musical/rhythmic, logical/mathematical, naturalistic

Question 34

holland interest environments

Answer 34

A technique for exploring the ways in which your interest can be grouped into job categories so you can begin to select specific career paths to investigate

Question 35

visual/spatial

Answer 35

A multiple intelligence that includes the ability to create mental images and transform them into an art form or useful products

Question 36

intrapersonal intelligence

Answer 36

The multiple intelligence which involves the ability to comprehend your own feelings

Question 37

The multiple intelligence that relates to the ability to connect mind and body and often relates to excelling at sports

Answer 37

kinesthetic intelligence

Question 38

The multiple intelligence that involves the ability to comprehend others feelings

Answer 38

interpersonal intelligence

Question 39

Programs in which you can work part-time in a career field in which you are interested while taking job related courses at school

Answer 39

co-op programs

Question 40

A school that offers courses to prepare students in specific skills to enter a technical career field

Answer 40

technical training program

Question 41

Study at a college or university-perhaps starting at a community or junior college

Answer 41

higher education

Question 42

A job that does not involve manual labor and for which people generally do not have to wear uniforms or protective clothing

Answer 42

white collar

Question 43

Formal education after you graduate from college which will give you indepth knowledge about your specific career area

Answer 43

graduate school

Question 44

The fee for instruction at a university

Answer 44

tuition

Question 45

Legal resident of the state in which the college is located

Answer 45

in-state resident

Question 46

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

Answer 46

public university

Question 47

Student Financial aid in which you do not have to repay

Answer 47

scholarship

Question 48

A college that is approved as meeting certain standards

Answer 48

accredited

Question 49

Course of study

Answer 49

curriculum

Question 50

People who have graduated from a certain school

Answer 50

alumni

Question 51

When a student enrolls in college classes and if they earn a passing grade, they receive credit that may be applied toward their high school diploma, a college degree, or a certificate

Answer 51

dual enrollment/concurrent enrollment

Question 52

Admission policy whereby you are informed by December weather or not you are accepted

Answer 52

early admissions policy

Question 53

Administration policy under which the administration makes acceptance decisions as students apply

Answer 53

rolling-admissions policy

Question 54

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

Answer 54

asynchronous-mode course

Question 55

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

Answer 55

waiting list

Question 56

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

Answer 56

public university

Question 57

Widely used entrance exam that measures the academic skills and knowledge most students need for success in college

Answer 57

SAT