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Ch.18 mngmnt
Question | Answer |
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Installment Credit | this is for sizable purchases |
Revolving Credit | combines features of a store credit card and installment credit |
Debit Card | immediately transfers money from checking |
Smart card | plastic card with an embedded microprocessor that can store a large amount of information |
Character | the measure of a persons sense of financial responsibility |
Capacity | a measure of earning power and reflects the persons potential to pay |
Capital | measure of the credit applicants current financial situation |
Conditions | an assessment of the economic environment |
No-Fault Insurance | Pays losses of its insured when an accident occurs |
Health Insurance | provides protection against the individuals health care |
Disability Insurance | offers payments to employees who are not able to work |
Life Insurance | provides protection against the loss of an individual |
Liability Insurance | provides protection against losses from injury to people or their property |
Malpractice Insurance | type of liability insurance that protects against financial loss |
Bonding | pays damages to people who's losses are caused by negligence |