personal finance
Paying on time is the most significant factor for determining your...
What is credit score?
If you owe money to someone, you are the ________.
What is debtor?
This person guarantees repayment of a loan in case a borrower defaults...
What is a co-signer?
Insures deposits, both principal amounts and accrued interest, up to $250,000 per account for most accounts.
What is Federal Deposit Insurance Corporation (FDIC)?
Interest bearing certificates of long-term debt issued by a corporation.
What are Corporate bonds?
True or False: You should always pay only the minimum amount due on a credit card.
False. Always pay more to reduce the interest paid.
This is what a lender does when they take back your car due to non-payment...
What is repossess?
This type of interest rate may fluctuate over time and is less risky for the bank.
What is a variable interest rate
Term used to describe what the consumer pays to borrow money. Essentially the cost of a loan.
What is interest?
Shares of ownership in a business corporation's assets and earnings
What is Stocks?
Who should you always pay first after earning a paycheck?
Yourself! (savings account)
When you don't pay on a loan...
What is default?
When a bank takes back your house due to non-payment...
What is foreclose?
An interest-earning savings instrument purchased for a fixed period of time such as 6 months, or 1, 2, or 5 years.
What is a Certificate of Deposit (CD)?
Cash profits that a firm distributes to shareholders
What are cash dividends?
Unlike a Credit Union which is owned by it's members, banks are often owned by...
What is Shareholders/Stockholders
Experian, Equifax, Transunion
What are the credit reporting agencies
A missed payment or a bankruptcy stays on your credit report how many years?
What is 7-10 years?
When funds are shifted electronically among various accounts and to/from other people and institutions.
What is Electronic Funds Transfers (EFTs)?
Collections of investments assembled to meet your financial goals.
What is a Portfolio?
Originally created by the Fair, Isaac and Company. This is another name for your credit score.
What is FICO score.
A new car loses value as soon as it is driven off of the lot. This is known as...
What is depreciation
After you receive your credit card bill, you have this amount of time to pay the bill before interest is charged.
What is a grace period
The speed and ease with which an asset can be converted to cash.
What is Liquidity?
Involves the potential for either gain or loss; equity investments might do either.
What is the Speculative Risk?