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Ease in which assets can be made into cash
What is Liquidity?
An insurance that protects against the risk of unexpected medical expenses among individuals
What is Health Insurance?
A card that enables customers to make purchases and borrow money
What is a Credit Card?
Provides life insurance for set period of time
What is Term Life Insurance?
Reduced amount of taxed income
What is Exemption?
The overall decline in price levels
What is Deflation?
The official term for legal policies that transfer all or some of the financial impact of unexpected events
What is Insurance?
A number representing the “credit worthiness of a person”
What is a Credit Score?
Retirement plan that is sponsored by the employer
What is a Pension?
Vehicles, buildings, and land are all examples of this tax
What is Property Tax?
Wages, rentals, interest and profits
What is Types of Income?
A fee paid to the state to ensure driving privileges when you don’t have any auto insurance
What is VA Uninsured Motorist?
Amount of available credit you have relative to the amount of debt you have
What is Debt to Credit Ratio?
The general rise of price levels
What is Inflation?
A range of incomes taxed at given rates
What is Tax Bracket?
An asset that a lender accepts as security for extending a loan
What is Collateral?
Guaranteed policy to repair damages to your car AND the other party’s car in the event of an accident
What is Auto Comprehensive Insurance?
Negatively impacts the total amount you pay back to credit card companies
What is Minimum Payment on Credit Card?
Investments including stocks bonds and mutual funds
What is Securities?
Tax used to fund social security system
What is FICA Tax?
A bank holds only a fraction of the deposits in reserve
What is Fractional Reserve Banking?
What are good credit, good grades, and no accident history?
A flexible pre authorized loan that can be used for anything
What is Bank Line of Credit?
A diversified investment in which a pooled collection of assets are invested together
What are Mutual Funds?
A progressive tax that increases as the amount of taxable increases
What is Graduated Income Taxes?