Banking
Checking
Budgeting
Credit
Loans
100
A firm that manages money and provides financial services
What is a Bank?
100
A card that enables users to withdraw money from their checking accounts
What is a Debit Card?
100
The money you are paid BEFORE taxes are taken out
What is Gross Pay?
100
This is added to your credit card balance every month
What is Interest?
100
The process of combining one or more loans into a single new loan
What is Loan Consolidation?
200
A service that allows you to handle banking activities by computer... using the internet
What is Online Banking?
200
A slip used to add money to your checking account
What is a Deposit Slip?
200
The money you have coming in as well as the money you have going out.
What is Cash Flow?
200
Experian, Equifax, and TransUnion
What are Credit Bureaus?
200
The total sum of money borrowed plus any interest that has been capitalized.
What is Principal?
300
The central banking system of the United States and the gatekeeper of the U.S. Economy.
What is the Federal Reserve?
300
To acknowledge you have agreed to exchange the specified amount on a check.
What is Endorsement?
300
The money you actually take home AFTER taxes are taken out
What is Net Pay?
300
This makes up 35% of a person's credit score
What is Payment History?
300
The failure to promptly pay interest or principal when due
What is Default?
400
A secret combination of letters or numbers used to gain access to an account through an electronic device such as an ATM
What is a PIN (Personal Identification Number)?
400
A check that bounces or the decline of a debit card, perhaps
What is NSF (Not Sufficient Funds)?
400
An excess of expenditure or liabilities over income or assets in a given period
What is a Deficit?
400
The financial ability to repay a loan with present income
What is Capacity?
400
A home equity loan.... NOT a home equity line
What is a Closed-ended Loan?
500
Balance of a bank account in which funds withdrawn have exceeded funds deposited.
What is Overdraft?
500
A check that is written, but not cleared
What is an Outstanding Check?
500
Taxes, insurance, retirement accounts, and bills taken out directly
What are Deductions?
500
Federal legislation enacted to promote the accuracy, fairness, and privacy of consumer information
What is the Fair Credit Reporting Act?
500
A loan for which the borrower pledges collateral to ensure repayment
What is a Secured Loan?
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