BANKING
Occurs when money is withdrawn from a bank account and the available balance goes below zero
What is an overdraft
A detailed report of an individuals credit history
What is a credit report?
replaces some of your income if you are sick or disabled and can’t work.
What is disability insurance
when stock prices rise for an extended period of time, because investors are buying
What is a bull market
the interest you are charged if you don’t pay your credit card bill in full every month
What is APR (Annual Percentage Rate)
Matching your bank statement with your checkbook
What is reconciliation
A yearly fee thats charged by the credit card company for the convenience of the credit card
What is an annual fee
covers medical expenses and property damages that result from car use.
What is auto insurance
when stock prices fall for an extended period of time, because investors are selling
What is a bear market
The smallest amount you can pay on your loan each month
What is the minimum payment?
Allows you to make payments without having to write a check and send it in the mail
What is online bill pay?
Equifax, Experian, and Transunion are an example of this
What is a credit bureau
generally less expensive than other forms of health insurance; require you to use doctors and facilities that are in their network.
What is an HMO (Health Maintenance Organization)
a card that you load with money BEFORE you use it.
What is a prepaid card
Linked directly to your checking account and can be used instead of cash
What is a debit card
A decrease or loss in value
What is depreciation
a share of ownership in a company
What is a stock
amount you owe on your credit card!!
What is the balance?
Is written by a bank and is a guaranteed form of payment
What is a cashiers check?
A measure of an individuals credit risk
What is a credit score
Pays for the damage to your car in an accident, regardless of fault.
What is Collision insurance
many investors put their money together into a fund, and a professional manager invests the money on their behalf
What is a mutual fund
pulls money DIRECTLY FROM YOUR CHECKING ACCOUNT the instant you use it!!
What is a debit card