Finance Vocabulary
What is another word for "yearly"?
annually
Make a question using the following words:
credit card / reward
Various answers.
Examples:
What rewards do you get with your credit card?
Which reward credit card do you have?
Which account does pay you more interest?
Which account pays you more interest?
This is a SUBJECT question so an auxiliary verb is NOT needed.
What is a buck?
a dollar
----also a male deer :)
Fill in the blank with the correct preposition:
This class is financed _____ the Canadian government.
This class is financed by the Canadian government.
Passive voice - always use by when stating the doer of the action.
Active: The Canadian government finances this class.
What do you call a loan used to purchase a house?
A mortgage
Make a question using the following words:
bank / credit union
Various answers.
Examples:
Do you go to a bank or a credit union?
What is the difference between a bank and a credit union?
When does our loan payment due?
Wrong verb.
When is our loan payment due?
- "due" is an adjective and should be used with the verb "be"
How many zeros are in a grand?
3
1 grand = $1000
Fill in the blank with the correct preposition:
If you pay ____ your loan, you do not owe any more money.
If you pay off your loan, you do not owe any more money.
pay off = pay a debt in full
What do you call the initial deposit you pay to purchase something like a vehicle or a house?
A downpayment
Make a question using the following words:
e-transfer / cheque
Various answers.
Examples:
Do you pay your rent by e-transfer or cheque?
Which is more convenient, e-transfer or cheque?
I'm trying to build my debt to get a better credit score.
Various answers.
Example:
I'm trying to pay off my debt to get a better credit score.
Can you name all the coins in Canada?
.5 = nickel
.10 = dime
.25 = quarter
1.00 = loonie
2.00 = toonie
Fill in the blank with the correct preposition:
If you pay _____ your loan, you make a partial payment.
If you pay down your loan, you make a partial payment.
pay down = reduce the amount of money owed
What is the job title of a bank employee that can help you open an investment?
Financial Advisor
What is the question?
Something valuable.
In finance, it is something worth money (a house, a car, cash, a business, an investment, etc)
What is an asset?
We have been budgeting to put a downpayment on a house in the next five years.
Use it in a sentence:
penny pincher
Various answers:
Example?
My grandpa was a real penny pincher; he always wore the same broken shoes.
Fill in the blank with the correct preposition:
RRSPs allow you to put ______ 18% of your income.
RRSPs allow you to put away 18% of your income.
Put away = save for future use
What type of savings plan is used for:
- retirement?
- education?
RRSP = Registered Retirement Savings Plan
RESP = Registered Education Savings Plan
What is the question?
It means to join or combine together into one.
What does consolidation mean?
What rules are the rules get a mortgage?
Various answers.
Examples:
What are the rules for getting a mortgage?
What are the rules to get a mortgage?
Use it in a sentence:
foot the bill
Various answers.
Example:
Will your parents foot the bill for dinner tonight?
Fill in the blank with the correct preposition:
If you contribute enough money ____ your RRSP, you can reduce the amount of tax you pay that year.
If you contribute enough money to your RRSP, you can reduce the amount of tax you pay that year.
collocation -> always contribute to