Checks/Debit/Credit Cards
A machine where cash can be retrieved using a debit or credit card.
What is an ATM?
The percentage most financial institutions will require as a down payment.
What is 20%?
The first step in purchasing a home.
What is getting pre-qualified?
The most common method of electronic scam.
What is email?
American stock market index that is based on the market caps of 500 large companies that are listed on the NYSE or NASDAQ.
What is the S&P 500?
A piece of plastic tied to credit used to access funds electronically.
What is a credit card?
The price a car typically sells for. This can be found through Kelly Blue Book, NADA guide, or other sources.
What is the book value?
A record that provides the Mortgage Lender information on a borrower’s repayment history with debt obligations.
What is a Credit Report?
Employment, Romance, and Craigslist are examples of this.
What are examples of online scams?
A fee paid to an agent or employee for transacting a piece of business or performing a service.
What is a commission?
A piece of plastic tied to a checking account used to access funds electronically.
What is a debit card?
The average cost for a used car purchased at a private dealer.
What is $17,002 with a payment of $348?
A report that provides the Mortgage Lender an opinion of the market value of a home.
What is an Appraisal?
Getting paid more for an item than requested, in turn for sending the buyer money back for the shipping company.
What is the Craigslist Scam?
A type of security that represents ownership in a corporation.
What is a stock?
A request from customer to bank used to prevent the payment of a written check.
What is a stop payment?
MSRP is an acronym for what?
What is “Manufacturer’s Suggested Retail Price”?
A cost that is paid for use of borrowed money.
(Hint: Can be fixed or variable)
What is Interest?
The fraudulent attempt to obtain sensitive information via electronic communication.
What is phishing?
A loan made by an investor to a borrower.
What is a bond?
An IOU written from individual/business to individual/business.
What are checks?
$568.6 billion
What is the amount of auto loan debt in the USA (as of 2017)?
An insurance policy that covers the lender’s losses if the borrower does not make the loan payments.
What is Mortgage Insurance?
$172 billion
What was the amount stolen from consumers worldwide in 2017?
An investment alternative in which investors pool their money to buy stocks.
What is a mutual fund?