Credit
An arrangement to receive cash, goods, or services now and pay for them later.
Credit
The document that states that you are the owner of a car is called....
Title
The document that states that you are the owner of a home is called....
Deed
You pay monthly for this to provide protection against potential financial loss.
Insurance
The yearly percentage cost of credit.
APR
Car mileage refers to driving on which roads?
City and Highway
A long-term loan on a specific piece of property such as a home.
Mortgage
The amount you pay to buy an insurance policy.
Premium
What is the minimum credit score?
300
What is the upfront cash payment made when purchasing high-value items such as a home or car?
Down Payment
A type of home loan with an interest rate that may change during the loan term due to market fluctuations.
Adjustable rate mortgage (ARM)
What are the TWO most common mortgage lengths?
15 and 30 years
What is the IDEAL percentage of your credit limit that you should be using?
Less than 10%
A written guarantee from the manufacturer or distributor specifying the conditions for returns, repairs, or replacements.
Warranty
After purchasing a home, the home is assess for its value, this is called an....
Appraisal
Who typically pays for health care expenses once you have met your deductible?
Both you and the insurance company
What influences the APR (interest rate) of a car loan?
Credit Score
In New Mexico, what is the sales tax on a vehicle purchase?
4%
What do people have to pay if they can’t provide the 20% down payment when purchasing a home?
They will have to pay mortgage insurance
What happens when you have reached your health care deductible and out-of-pocket maximum?
The insurance company pays for 100% of expenses