Banking
Banks, thrifts and credit unions are what?
What are financial Institutions
The ability to borrow money is known as what?
What is credit
This occurs when thieves steal personal information.
What is identity theft
What is the name of the three major credit reporting agencies?
What is Equifax, Experian, and TransUnion
What is it called when owning part of a company?
What is stock (share)
Name a type of checking account.
What is Free/Low-Cost checking and electronic-only/ATM checking
The extra amount that is part of the cost of borrowing money, can be fixed or variable, what is this called?
What is interest
This should be reviewed annually.
What is credit record
The two most relevant types of bankruptcies.
What is Chapter 13 and Chapter 7
Lending money to a corporation for a certain period of time is called what?
What are corporate bonds
name some reasons to keep money in a bank.
What is safety, convenience, cost, security and financial future
Pledging an asset you own to a lender that will be used for repayment if a loan can't be paid is known as what?
What is collateral
restricts potential creditors and third parties from accessing your credit report unless you authorize a release
What is a security freeze
Need to have a regular income and can keep your property for this type of bankruptcy.
What is Chapter 13 bankruptcy
These are offered by companies that combine money from many investors to purchase numerous separate investments, what is this called?
What are mutual funds
what allows you to pay bills and buy goods with money deposited?
What is a checking account
Guarantee, secured loan, unsecured loan, asset are what?
What are types of collateral
Name 1 of 3 things to do if you believe you are a victim of identity theft.
What is keep records, contact creditors, file a police report.
This is a newer credit scoring system offered by all three credit reporting agencies.
What is Vantage Score
This is the most basic kind of retirement arrangement.
What is an IRA
Opening a checking account requires you to prove what? by providing what documents?
What is identity; what is a photo ID, SSN or ITIN
Useful in emergencies, more convenient to carry than cash, allows for large purchases, can affect ability to obtain employment, housing, and insurance is known as what?
What is credit
This lasts for 90 days.
What is initial fraud alert
This is the primary method lenders use to assess how deserving you are of their credit.
What is FICO score
This is an insurance contract that invests your premium in various mutual fund-like investments.
What is a variable annuity