Banking & Financing
Assets minus liabilities.
What is net worth?
Issued by the Department of the Treasury at face value and a fixed rate of return.
What are U.S. Savings Bonds?
A detailed account of the credit, employment and residence history of an individual.
What is a credit report?
Type of loan that offers stable and consistent payments throughout the life of the loan.
What is a fixed rate?
The common name for the motor vehicle warranty enforcement act that applies only to new cars with safety or repeat mechanical problems.
What is the Lemon Law?
Your gross income minus taxes.
What is net income?
Increase in the cost of goods and services.
What is inflation?
A system creditors use to help determine whether to extend credit to you and how much to charge you for it.
What is a credit score?
Government backed loans that are designed for first-time or lower-income home buyers.
What is a Federal Housing Administration (FHA) Loan?
The organization that sets the standard for ethical business practices where you can locate trustworthy business and file complaints against unethical businesses.
What is the Better Business Bureau (BBB)?
Housing, food, transportation, clothing, and child care are all examples of...
What are living expenses?
When the money you invest makes more money.
What is compound interest?
650-699 is considered what kind of score.
What is a good credit score?
Fees paid to complete the mortgage loan.
What are closing costs?
The protections in this act include interest rate relief, installment contracts, rental agreements, lease termination and civil judicial proceedings.
What is the Service Member's Civil Relief Act (SCRA)?
Deposit your money into the bank and they provide a safe place for your money while paying interest on the balance.
What is a savings account?
A company that pools money from many investors and invests in different asset classes or some combination of them.
What is mutual funds?
Nonprofit organizations owned by its members and lend to members only and normally offer some of the most attractive rates.
What is a credit union?
Acts as a third party to both the buyer and the seller, handles the paperwork and collects and distributes the various financial transactions such as prepaids, real estate commissions and down payments.
What is the escrow company?
Missing bills, credit cards not applied for and sudden denial of credit.
What is identity theft?
The federal organization that insures bank accounts up to $250,000 per account/per individual.
What is the Federal Deposit Insurance Corporation (FDIC)?
A retirement savings and investment sponsored by the federal government for military service members.
What is Thrift Savings Plan (TSP)?
A measure of the cost of credit, expressed as a yearly rate.
What is Annual Percentage Rate (APR)?
An informal way to see how much you may be able to borrow.
What is pre-qualify?
A place where you can report scams on the internet.
What is the Federal Trade Commission (FTC)?