Banking
A type of bank account that allows you to easily deposit and withdraw money for daily transactions. Often linked to a debit card.
What is a checking account.
This three-digit number summarizes your creditworthiness for lenders.
What is a credit score?
This type of card automatically withdraws money directly from your checking account when you make a purchase.
What is a debit card?
In a loan, this is the amount of money borrowed that must be repaid, not including interest.
What is the principal?
A piece of ownership in a company that can be bought or sold on an exchange.
What is a share?
In mathematics and statistics, this Greek letter is used to represent both the operation of summation and, in uppercase form, the symbol for standard deviation in data analysis.
What is Sigma? Σ
A type of bank account that is used to store money long term and earn high levels of interest.
What is a savings account.
The maximum amount you can borrow on a credit card.
What is the credit limit?
When using a debit card, this is the term for the 4-digit number you must enter to approve a transaction.
What is a pin number?
The extra amount a lender charges the borrower for a loan, usually shown as a percentage.
What is interest?
This well-known index tracks major companies to gauge the U.S. economy’s health.
What is the Dow Jones Industrial Index?
This superhero, though his day job, might just have others him seeing things through a different "lens."
Who is Spider-Man?
A form of debt incurred by an individual or entity, where the borrower agrees to repay the amount along with interest over a specified payment schedule
What is a bank loan?
Failing to pay your credit card bill on time will not only lower your credit score but also add this type of fee.
What is a late fee, or what is interest?
A fee charged to an account if you spend more than you have in your account using a debit card.
Overdraft fee
The type of loan often reserved for automotive vehicles or automotive related purchases?
What is an auto-loan?
When stock prices are rising, the market is said to be named after this animal.
What is a bull?
An online global marketplace for buying and trading securities, recognized as the world's first electronic exchange.
What is NASDAQ?
Fees paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
What is interest?
This annual fee, expressed as a percentage, represents the total cost of borrowing money on a credit card, including interest and some fees.
What is APR?
A protection program offered to prevent withdrawing more than one has available.
What is overdraft protection?
This type of loan helps people purchase a home and is repaid over years, often 15 to 30.
What is a mortgage?
This term describes the practice of spreading investments across different sectors or companies to reduce risk.
What is diversification?
A person labeled by the anacronym the "Greatest Of All Time"
Who is Steve?
Created in 1933 during the Great Depression, this government corporation protects depositors by insuring bank accounts up to $250,000.
What is the FDIC?
A not-for-profit financial cooperative that provides savings accounts, loans, and other financial services to its members. Often offer better interest rates and lower fees compared to traditional banks.
What is a credit union?
This type of debit card transaction is processed through credit card networks, allowing for signature authorization instead of a PIN.
What is a signature based transaction?
The amount of the initial upfront payment made when purchasing a more expensive asset.
What is a down payment?
An investment that involves the overall value of more than one publicly traded company.
What is a mutual fund?
The person most likely responsible for detrimental financial constraints and/or serious problems with financial institutions.