Decision Making and Consumer Protection
Things you want to accomplish in life.
What are goals?
These are people the employer can contact to verify your training, experience, or character.
What are references?
Also known as bouncing a check.
What is overdraft?
A loan to buy real estate
What is mortgage?
Rise in the general level of prices
What is inflation?
This is deliberate deception designed to secure unfair or unlawful gain.
What is fraud?
This is your before tax income.
What is gross pay?
Anyone who you are financially responsible for
What are dependents?
A legal contract you sign that gives you the right to live in an apartment for a specific period of time as longs as you pay the rent and follow the contract rules
What is a lease?
To get a loan, a lending institution needs to find you creditworthy so they look at these three things.
What are Character, Capacity and Capital?
The engine that runs the economy
What are consumers?
Natural talent for learning skills
What is aptitude?
Any other amount you can subtract from your taxable income, for example: donating to charity and buying work supplies with your own money.
What are deductions?
Interest rates on these loans go up or down as rates in the economy rise and fall
What are adjustable rate mortgages?
The total return divided by the amount of money invested.
What is the rate of return?
This right says that the consumer should be able to obtain fair remedies to consumer problems
What is the right to redress?
An insurance program that provides income for workers who are injured, disabled, or unable to work as a result of their job
What is worker's compensation?
A tax on the property that is received from people that have died.
What is estate tax?
The difference between what a home is worth and what the buyer still owes on the mortgage
What is equity?
When a company combines the funds of many different investors and then invests that money in a diversified portfolio of stocks and bonds
What are mutual funds?
A type of advertising that tries to appeal to your emotions. Often times using a celebrity, attractive, happy person or humor.
What is persuasive advertising?
The form you complete to determine how much to withhold from your paychecks
What is W-4?
A share of the company’s profits.
What is dividend?
This pays for damage on you vehicle caused by something other than an accident.
What is comprehensive coverage?
This type of loan is backed by collateral.
What is a secured loan?