Insurance
This type of life insurance policy only pays a death benefit with no cash value
What is Term
A check has "insufficient funds"
What is a bounced check
A period of falling stock prices and investor pessimism
What is a bear market
Two qualities important to find the least expensive loan
What is one with the lowest interest rate and the shortest time frame
Unexpected good fortune, typically one that involves receiving a large amount of money
What is a windfall
You are in an accident and cannot work
What is Disability Insurance
Insures your deposits up to $250,000 per account, per person
What is FDIC (or NCUA for credit unions)
Companies may do this to raise capital (money) for growth, and expansion
What is "go public" or have an Initial Public Offering
Even though it is not always advised, it could be an opportunity to have a positive impact for a borrower you know who is in a tight spot.
What is cosign a loan
How to figure out your Net Worth
Assets- Liabilities
(Stuff you own outright - money you owe)
Higher risk means __________ premiums
What is higher
Form of payment that draws from your checking account immediately
What is a debit card
Agency that protects investors from misconduct and promotes fairness and efficiency in the securities markets
What is the SEC (Securities and Exchange Commission)
A way to get cash from a credit card, but be warned...the interest rate will be higher than they charge for purchases
What is cash advance
Another way to say net pay
What is take home pay
The insured shares the risk with whom?
Who are all the other policyholders
For deposit only
What is restricted endorsement on a check
The phrase to remind you to diversify your investments
What is "Don't put all your eggs in 1 basket"
The cost of using someone else's money
What is interest
How old do you have to be to withdraw money from a Roth IRA
What is 59 and a half
The "out of pocket" money the insured pays for a claim. It changes depending on the policy purchased.
What is a deductible
line of credit or the amount you can borrow on a continuing basis with a current account
What is credit limit
Another name for a loan that has collateral
What is a secure(d) loan
Given the same interest rate and same purchase price which car loan would have a lower monthly payment a 3 year, or a 5 year
What is the 5 year loan
It would have a lower payment but in the end with 24 extra payments it would end up costing a lot more for the consumer
A formal request from a policyholder to their insurance company asking for payment after a covered incident (hospital stay, natural disaster, theft)
What is a claim