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Everfi Financial Literacy Semester Test Bliss 2021
Terms in this set (30)
Social Security Number
A 9-digit number issued to U.S. citizens and permanent residents that is used as a primary form of identification by the government.
loans to individuals or businesses to purchase homes, land, or other real property
a percentage of increase in the value of the property over it's value when it was originally purchased.
the loss of value of an asset as a result of wear and tear, age, or obsolescence
The process by which a home owner loses their home due to non-payment of mortgage, violating the due on sale clause, failing to keep taxes and insurance paid, or failing to maintain the home.
written in box of check representing how much the check is worth
Keeps track and identifies checks you write
Where the Authorized Signer places his/her name. Without the authorized signer's name the check will not be cashed
Central banking system of United States. Composed of Board of Governors, the FOMC & 12 regional Federal Reserve Banks. Prevents banking diasasters & promotes a healthy economy.
Savings and Loans
Banks that specialize in accepting deposits and making mortgage loans. No offers are given to commercial businesses.
The percent you either make or pay on a principal
Anything you spend on, from a pack of gum to your monthly cell phone bill.
A plan of how you will spend the money that you make or receive.
the financial gain (earned or unearned) accruing over a given period of time
shares of ownership in a company
Is a record that details a person's credit history. It also includes identifying information, such as names and addresses.
A numerical rating of your credit-worthiness (how likely you are to pay off your debts).
Private Student Loans
financed by companies rather than government. since these interest rates and fees aren't capped by government - they cost more.
an owner pays on the value of any owned property, including land, buildings, or houses.
Usually a percentage of the price of what you purchase.
The form you fill out when you start a new job.
The amount you pay to have insurance for a specific amount of time.
Type of life insurance policy, similar to cash value but with better projected returns.
allows a person to charge at the moment and pay later, Short-term loan. Unsecured. High interest rate.,
A payment type that allows you to make electronic purchases that the purchase directly from your checking account.
A payment type similar to a debit card that allows you to make electronic purchases but requires that you enter a PIN (Personal Identification Number) for any transaction.
The total amount the company is willing to loan you without charging you fees and penalties.
In reference to credit cards, this is the amount of time you have to pay back a balance before it starts accumulating interest.
Risk and Return
The higher the risk, the higher the potential return of any money you invest. The lower the risk, the lower the potential return.
The W2 form:
Is provided to you by your employer , and lists total income and all tax withheld amounts.
Recommended textbook explanations
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Solutions Manual for Use with Essentials of Investments
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