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Business and Personal Finance

Mid Term 2015 Study Guide

You are required by me to arrive for the midterm at the appointed starting time for your section. You are required by me to stay until the appointed ending time for your section. Requests for any variation in this exam schedule must be approved by Principal Wes Paul, Vice Principal Cathy Quiley, or Vice Principal T.J. Flannagan.

Advanced Business and Personal Finance Mid Term 2015:
Vocabulary Study Guide

Chapter One: Personal Financial Planning
a) values                                              
b) future value                                  
c) liquidity                                        
d) time value of money                 
e) demand                                               
f) personal financial planning     
g) principal
h) economics
i) inflation    
j) present value    
k) annuity   
l) Federal Reserve System             
Chapter Two: Finances and Career Planning
a) career                                            
b) standard of living                    
c) potential earning power                             
d) interest inventories                     
e) demographic trends                
f) cooperative education
g) networking
h) résumé
i) cafeteria-style employee benefits
j) pension plan
k) mentor
l) service industry

Chapter Three: Money Management Strategies
a) money management                        
b) personal financial statements          
c) net worth                                  
d) liquid assets                            
e) market value                           
f) safe-deposit box 
g) liabilities
h) discretionary income
i) surplus
j) deficit
k) personal financial document
l) take home pay
m) salary

Chapter Four: Consumer Purchasing and Protection

a )cooperative
b) impulse buying
c) open dating
d) warranty
e) service contract
f) fraud
G) mediation
h) arbitration
i) small claims court
j) class-action suit

Chapter Five: Banking and Credit

a) automatic teller machine (ATM)
b) debit card
c) credit card
d) certificate of deposit (CD)
e) rate of return
f) compounding
g) credit union

Chapter Six: Consumer Credit
a) credit
b) consumer credit
c) closed-end credit
d) line of credit
e) annual percentage rate (APR)
g) simple interest
h) minimum monthly payment
i) consigning
j) grace period

Chapter Seven: The Finances of Housing
a) mobility
b) lease
c) security deposit
d) equity
e) escrow account
f) points
g) adjustable-rate mortgage (ARM)
h) refinance
i) title insurance
j) appraisal

Open Response Questions, xx points

Write a 1000 word or more essay based on the following:

So far this year, we have studied Personal Financial Planning, Finances and Career Planning, Money Management Strategies, Consumer Purchasing and Protection, Banking, Consumer Credit, and The Finances of Housing. How has the study of these subjects changed the way you think about money? In what way could you apply what you have learned to your short term financial goals? In what way could you apply what you have learned to your long term financial goals?

Write your essay using Google Documents. You must print your essay as well as sharing the essay to me.