ACT 2300- Final Exam Guide - Comprehensive Notes for the exam ( 76 pages long!)

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4 Dec 2017
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NSU
ACT 2300
FINAL EXAM
STUDY GUIDE
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SET 1
3 key components of the financial system
1. financial assets
2. financial institutions
3. federal reserve and financial regulators
financial asset
asset that represents a claim on someone else for a payment
security
1. financial asset that can be bought or sold in a market
2. it is tradable
financial market
a place or channel for buying or selling stocks/bonds/other securities
5 key categories of assets
1. money
2. stocks
3. bonds
4. foreign exchange
5. securitized loans
money supply
total quantity of money in the economy
stocks
1. also called equities
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2. represents partial ownership of a firm
bond
financial security issued by a corporation or a government that represents a promise to repay a
fixed amount of money
interest rate
1. cost of borrowing funds (payment for lending funds)
2. expressed as a percentage of the amount borrowed
coupons
bonds that pay interest in a fixed dollar amount
when a bond matures...
the seller of the bond repays the original amount
foreign exchange
units of foreign currency
securitization
process of converting loans and other financial assets that are not tradable into securities
mortgage backed security
1. loan that is sold to a government sponsored enterprise or financial firm that will bundle it with
similar mortgages
2. allows it to function like a bond
channels that match borrowers and savers
1. banks and financial intermediaries
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