Cash & Savings
Deposit insurance for Credit Unions.
What is NCUA?
One of two reference sources for researching the value of a car.
What are Edmunds or Kelley Blue Book?
A product should outlive the payment schedule.
What is the Rule of Thumb for credit?
Process of paying off a loan by taking out another loan.
What is Loan Rollover?
The day-to-day administration of cash and resources by an individual or family.
What is Cash Management?
Deposit insurance for Banks.
What is FDIC?
A type of fixed or adjustable mortgage.
What is conventional, FHA, or VA loan?
Avoid paying cash for large purchases.
What is a reason for using credit?
The person legally obligated to repay a Direct PLUS loan.
Who is the parent who took out the loan?
Levied by local governments on the assessed value of real estate.
What are property taxes?
One of four types of a depository financial institution.
What is Commercial bank, savings and loan Association, savings bank, or credit union?
When you have no funds for the down payment on a home.
What is a reason to rent instead of buy a home?
Character, capacity, collateral, capital, and condition.
What are the 5 C's of credit?
Always tell the truth.
What is the first step of the negotiation process?
Organization that collects and stores credit information about individual borrowers.
What is a Credit Bureau?
An arrangement between the account holder and the depository institution wherein the institution automatically pays a check that overdraws the account.
What is Overdraft Protection?
Research our purchase, Select the best item for your needs, buy the item after negotiation for best price, and maintain purchase.
What are 4 basic guidelines to wise purchasing decisions?
Method of evaluating an applicant’s creditworthiness by assigning values to income, debts, and credit references
What is credit Scoring?
Legal claim permitting the lender to liquidate collateral if the borrower defaults.
What is a lien?
Item of value used to secure a loan
What is Collateral?
Online commercial bank.
What is an Internet bank?
A single family home, a condo, co-op, or rental.
What are types of housing?
A card marked specifically for college-students.
What is a Student credit card?
Process of paying off a loan by taking out another loan.
What is a loan rollover?
Insurance policy that protects the mortgage lender from loss in event the borrower defaults on the loan; typically required when down payment is less than 20%..
What is Private Mortgage Insurance (PMI)?