A loan given to an individual to purchase property where the property is pledged as security.
What is a mortgage?
100
Uncertainty about a situation's outcome.
What is risk?
100
Characteristics of this type of vehicle include costs less to buy, costs less to insure, and depreciates more slowly.
What is a used vehicle?
100
The place where paycheck deductions and other importatn information is found.
What is a paycheck stub?
100
The five elements of financial goal setting.
What are specific, measurable, attainable, realistic, and time bound?
200
What are Two Advantages of Renting
What are no maintenance or repairs, or less commitment, or no down payment, or opportunity to become familiar with the area or an affordable alternative?
200
Provides income if a person is unable to work because of an injury or illness
What is disability insurance?
200
Three flexible expenses associated with having a vehicle.
What are gas, oil, and maintenance and repairs?
200
The total amount of money earned during the pay period before deductions.
What is gross pay?
200
The recommended amount to save from each paycheck?
What is a minimum of 10% of net income?
300
The average length of time an individual finances a home for a mortgage.
What is 30 years?
300
The type of insurance which allows many individuals to afford medical care.
What is health insurance?
300
Loss in a vehicle's value because to time and use
What is depreciation?
300
The money subtracted from gross pay for mandatory systematic taxes and employee sponsored medical and retirement benefits.
What are deductions?
300
The average percentage of net income allocated to housing expenses.
What is 30%?
400
The down payment amount required on the property purchasing price to receive a mortgage.
What is 10 to 20% of the property purchasing price?
400
The person designated to receive money after the policy holder's death
What is the beneficiary?
400
The mandatory insurance required by law to operate a vehicle.
What is liability insurance?
400
FICA is comprised of these two taxes
What is Social Security and Medicare?
400
Federal Withholding, State Withholding, Social Security, Medicare, retirement plan contributions and medical.
What are paycheck deductions?
500
The recommended minimum coverage for property insurance.
What is 80% if the replacement cost
500
The amount disability insurance typically pays
What is 60 to 70% of one's full time wage?
500
The insurance which coves the cost to repair or replace a car resulting from damage not caused by a collision.
What is comprehensive insurance?
500
Represents the largest tax deduction taken from an employee's gross pay.
What is federal withholding tax?
500
The ideal result of an income and expense statement in terms of dollars.