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15 terms

c&e c19

Managing Money
STUDY
PLAY
short term credit
an advance of money to be repaid in a short period of time
collateral
security pledged for the payment of a loan
credit union
A nonprofit financial institution that is owned by its members and organized for their benefit.
mutual funds
a pool of money invested by a professional in a group of stocks.
certificate of deposit
is a time deposit that requires you to leave your money in a financial institution for a set amount of time
premium
payment for insurance
currency
Coins and paper bills used as money
bankruptcy
A legal process to get out of debt when you can no longer make all your required payments.
discounting
Deducting the interest on a loan in advance
discount rate
the rate of interest set by the Federal Reserve that member banks are charged when they borrow money through the Federal Reserve System
stock broker
A licensed professional who handles stock purchases and sales
insurance
promise of reimbursement in the case of loss
beneficiary
Person entitled to benefits or proceeds of an insurance policy or will
social security
federal program of disability and retirement benefits that covers most working people
medicaid
Federal program that provides medical benefits for low-income persons.