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Personal living and finance Mr. Tobia > Personal living and Finance vocabulary quiz > Flashcards

Personal living and Finance vocabulary quiz Flashcards

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1
Q

Tax (income)

A

companies income is used to owe the government by its tax

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2
Q

Tax (sales)

A

a forced sale of property by a government entity for unpaid taxes by the properties owner

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3
Q

Routing Number

A

a number used by a bank to indicate (show) different areas

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4
Q

Account Number

A

A unique string of numbers and, sometimes, letters and other characters that identifies the owner of an account

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5
Q

Member Number

A

A unique number that identifies you from all other Beyond Bank customers

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6
Q

Venmo

A

A peer-to-peer payment system from PayPal for reansferring cash

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7
Q

PayPal

A

an electronic commerce company that facilitates payments between parties through online transfers

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8
Q

Security Deposit

A

A sum of money held in trust either as initial part-payment in a purchasing process

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9
Q

Lease

A

A contract by which one party conveys land, property, services, etc. to another for a specified time

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10
Q

Private Sale

A

event in which Property is sold by Seller, or on Seller’s behalf

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11
Q

Credit Score

A

A number lenders use to help them decide how likely it is that they will be repaid on time for credit card

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12
Q

Experian

A

A collection of information such as credit/loan, history, identity information, credit accounts,etc.

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13
Q

TransUnion

A

An American consumer credit reporting agency

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14
Q

Equifax

A

A credit bureau

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15
Q

Debt to Income Ratio

A

A percentage of your gross monthly income that is used to pay your monthly debt and determines you borrowing money

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16
Q

Credit History

A

A measure of your ability to repay debts and demonstrated responsibility in repaying them

17
Q

Student Loans

A

money you borrow from the federal government or a private lender to help pay for college costs

18
Q

Assets

A

Anything you own that adds financial value

19
Q

Default (loan)

A

The failure to repay a debt, including interest and principal, on a loan or security

20
Q

Insurance

A

A practice or arrangement bywhich a company or government agency provides a gurantee of compensatio…

21
Q

Deductible (Insurance)

A

The amount you pay for covered health care services before your insurance plan starts to pay

22
Q

Coverage

A

The amount or extend of the protection provided by insurance

23
Q

Policy Holder

A

A person or group in whose name an insurance policy is held

24
Q

Claim

A

When a report is filed with an insurance company

25
Q

Copay

A

A payment made by a beneficiary (especially for health services) to the addition to that made by an insurer

26
Q

Out-of-Pocket limit

A

The most you have to pay for covered services in a year

27
Q

Liability Insurance (car)

A

The part of a car insurance policy that provides financial protection for a driver who harms someone else…

28
Q

Collision Coverage

A

A coverage that helps pay to repair or replace your car if it’s damaged in an accident with another vehicle

29
Q

Comprehensive Insurance

A

A coverage that helps pay to replace or repair your vehicle if it’s stolen or damaged in an incident…

30
Q

Car Insurance

A

Effectively a contract between yourself and an insurance company in which you agree to pay premiums…

31
Q

Homeowners Insurance

A

combines property and liability insurance into one policy broken down protect from financial…

32
Q

Health Insurance

A

A contract that requires an insurer to pay some or all of a person’s healthcare costs in exchange for a premium…

33
Q

Renters Insurance

A

Necessary because a landlord’s insurance policy on the dwelling does not cover renter’s personal possesions…

34
Q

Co-insurance ( health)

A

Percentage of the cost, person is responsible for each medical event after yearly deductible is reached

35
Q

Premium (monthly)

A

The amount you pay for your health insurance every month

36
Q

HMO

A

Health Maintenance Organization

37
Q

Flexible spending accounts

A

An employer sponsored account that let’ employees pay certain medical or dependent care costs with tax-free

38
Q

Medicare

A

Provides health insurance to people over age 65

Personal living and finance Mr. Tobia (1 decks)

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