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CCF Test 2
Terms in this set (29)
The company or individual who owns an apartment
A legal document signed by both the tenant and the landlord that contains the terms of the agreement, such as the names of the tenant(s), the rent amount, and the responsibilities of the landlord and the tenant.
The location of your apartment is an important safety consideration and also determines your ease of getting to work, buying groceries, and so on.
The amount of time required in advance if either the landlord or the tenant wishes to discontinue the rental agreement. This courtesy allows both parties time to make other arrangements.
The payment, usually monthly, that the tenant pays to the landlord.
A sum of money, usually equal to one month's rent, held by the landlord to cover any damage to the apartment caused by a tenant.
The person renting the apartment.
The length of a rental agreement, usually a period of one year.
One individual apartment. A large apartment building may contain 20 or more units.
Services needed to make a house or apartment functional, such as hot water, electricity, natural gas, and cable and Internet service.
APR (Annual Percentage Rate)
A number calculated by taking into account the total cost of a loan, including what the borrower will pay in interest; this makes it easier to compare different loan offers.
A car with two front seats and a smaller backseat for occasional passengers. It usually has two doors but sometimes has four.
Insurance that covers the car of the insured person and pays for repairs after an accident or cash compensation if the car can't be repaired. This type of coverage is usually optional.
An agreement that gives one party the use of a commodity for a specified period of time for a specified price.
Insurance that compensates an injured party up to a certain amount outlined in the policy statement. This type of insurance ensures you will be able to pay for any damages you cause.
An amount of money given to the borrower for a set period of time. After the set time has passed, the money must be paid back plus the lending fee, called interest. Payments are normally made over a series of months.
A car that is designed for maximum passenger space. It has multiple rows of seats but often doesn't offer significant towing power or off-road capability.
No fault auto insurance
A system under which drivers must have coverage for their own protection. It also limits the damages for which an injured party can sue. Under this system, after an accident both parties would be covered by their own insurance policies. Only some states use this system.
A common type of car that has two rows of seats and a trunk. It can have two doors or four doors, but the backseat should be able to seat adults comfortably.
A car with multiple rows of seats and significant towing power. Most also have the ability to drive off-road.
Looking for the same product in multiple stores to find the best price or the best product.
An agreement between a buyer and a seller.
Buying something you don't really need on a whim.
Something that you must have to live from day to day, like food, shelter, and clothing.
The voluntary or involuntary removal of a dangerous product from the market.
Something that can help you improve your day to day life, like a computer, car, or television.
What you think a purchase is worth to you personally, taking into consideration how it will help to improve your life.
Something that won't help you live from day to day, like jewelry, video games, and soda. Once you have met your primary and secondary needs, you can try to make room for some of these things in your budget.
The seller's promise to fix or replace the product if something goes wrong.