Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
Know
remaining cards
Save
0:01
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Financial Lit

Chpt 10

TermDefinition
Mortgage loan A long-term loan extended to someone to buy property
Closing costs Fees for the property survey, loan application, document preparation, and points
Real Estate taxes A tax for owning a home that goes to the city or county
Assessed value The dollar value a tax assessor assigns to a property for taxation purposes
Tax rate The amount of tax for a property. Expressed as mills per dollar. A mill is $0.001
Market value The price to buy or sell the property
Homeowners insurance Insurance to provide financial protection against various losses in you home
Property damage coverage Pays for damage to the home and personal property caused by things such as fire, windstorms, lightning etc.
Personal liability Protects you as a homeowner if someone alleges that your negligence caused her or him bodily injury or property damage
Medical coverage Pays for your medical expenses for non-family members accidentally injured on your property. It does not mater who's at fault
Loss-of-use coverage Pays for the expenses for living away from home while your damaged home is being repaired
Replacement value The amount required to reconstruct your home if it is destroyed
Premium The amount you must pay for insurance coverage
Fire protection class A number that describes how fire resistant you house is and how close it is to a water source
Utility costs Charges for electricity, gas, water, telephone, cell phone, TV, internet, and heating fuel
Security Deposit When renting you pay a deposit which may be used to pay for cleaning the rented area and to change locks/repair any damages
Created by: AnthonyMcDowell