Board Questions
Discussion Questions (BOARD QUESTIONS):
Economics
  1. Give an example of supply and demand and how it would affect prices.
  2. Tariffs, quotas, and embargoes, explain each and why we need these tools.
  3. Explain what the Federal Reserve does, what policies they use, and how they can stimulate our economy.
  4. What is inflation?

More Economics
  1. ​Why do we need money?
  2. What is inversion and why isn't it good for the country?
  3. Define opportunity cost and give an example.
  4. What is the major difference between a command economy and capitalism, and give an example of each?

Even More Economics
  1. Describe the difference between monetary policies and fiscal policies and who uses them.
  2. What is an example of a governmental discretionary expense?
  3. What does SEC stand for and what do they do with the stock market?
  4. What is the time value of money and what two major factors affect it?
  5. Label each for a business cycle: trough, expansion, peak, compression.
 
Banking
  1. Why is FDIC and NCUSIF important?
  2. What is a CD?  List 2 advantages and 2 disadvantages to owning one.
  3. Explain the difference between a credit card, cash card, and a debit card.
  4. Roth IRA and a Traditional IRA…Explain the difference and why you would own one over the other.​
  5. ​Explain each: return check fee, overdraft fee, insufficient funds charge, stop payment charge, ATM fee, monthly maintenance fee, minimum balance fee
 
Credit
  1. What is the difference between closed-end and open-end credit and give an example for each?
  2. What is the principal on a loan? What is the APR and how is it used to figure the cost of the loan?
  3. What is collateral and why is it a safer way for someone loaning money?
  4. What is a debt to credit ratio, and what is considered to be a good number?

Buying a Vehicle
  1. What is a down payment and how does if affect the amount borrowed, the amount of interest paid, and your monthly payment?
  2. What is MSRP and why don't you want to pay this amount?
  3. List 3 things that could happen to a person if they don't make their car payment?
  4. Why is important to take your car into the dealer if you receive a recall?


Car Insurance
  1. ​What is a premium?
  2. What is replacement insurance?
  3. What is no-fault insurance?
  4. What does it mean when you have a $500 deductible?
  5. What do these numbers mean?  50/100/20
  6. Define each:  Comprehensive Insurance and Collision Insurance​

Health Insurance
  1. ​What are the differences between HMO and PPO?
  2. What are two differences between a car deductible and a health care deductible?
  3. What is a primary care taker, an in-network doctor, an out of network doctor, and a specialist?
  4. What is the difference between co-pay, coinsurance, and deductible?
  5. Give one difference between term insurance and whole life insurance, and one similarity?  Give one benefit of each.​

General Insurance
  1. What does renter's insurance cover?
  2. What important parts are needed in home owner's insurance?
  3. Name 3 perils a homeowner would want to cover.
  4. What is the 80% rule for home insurance?
  5. What is a Floater or Rider Policy?

Investing
  1. What is a dividend and why could it be important when choosing stocks?
  2. Bank Accounts, CDs, Bonds, Mutual Funds, Index Fund, Stocks --> Explain each and how they would fit into your investment strategy.
  3. What is a bond?  Explain the difference between corporate, municipal, and treasury bonds.
  4. What is a diverse portfolio?
  5. What is a Bull Market and Bear Market?
  6. What is the difference between earned income and unearned income?

Earnings and Taxes
  1. Explain each:​  Gross Income, Net Income, Take Home Pay, Adjusted Gross Income, Taxable Income
  2. What is the difference between itemize deductions and standard deductions?
  3. What is FICA and what two deductions does it include?
  4. What is the difference between a tax deduction and tax credit?
  5. What is the difference between a W-4 and a W-2?​
Additional tax questions:
  1.  If a person is single, no dependents, and qualified for the EIC with an earned income of $10,346, what is their credit?
  2. Using the tax tables, if a person is single and has a taxable income of $30,232.00, how much tax should they pay?
  3. How much is the standard deduction for a married couple filling jointly who are not dependents?
Buying a House
  1. What is a mortgage and how does it relate to an amortization table?
  2. List 2 advantages and 2 disadvantages of owning and renting?
  3. What would a person usually have to pay up front when they first rent a place?

Estate Planning
  1. What are the main differences between a living will and a regular will?
  2. What is a 401(K) and what are the potential benefits (list 2)?
  3. ​What is the difference between a Roth IRA and a Traditional IRA?

Money Management
  1. What are 3 ways a person can protect themselves from identity theft?
  2. What is a budget?  Give an example of a fixed expense and a variable expenses, and how they affect your budget?  
  3. Define each and list one benefit and one disadvantage to having a salary, wage, or commission.
  4. What is a ponzi scheme?

Financial Literacy
  1. What is bait and switch?
  2. What is a pyramid scheme?
  3. What is a class action lawsuit?
  4. What is a rebate?
  5. What is product placement and how does it influence spending?  Give two examples.

Concepts 
  1. Who is an entrepreneur?  List two risks and two rewards for an entrepreneur.
  2. How do entrepreneurs finance their new business? (give three examples)
  3. What does the Consumer Financial Protection Bureau (CFPB) do to help people? (give one example)
  4. Give 3 examples of people who would be hurt most by high inflation.
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