Finance 2012 Word Scramble
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Question | Answer |
The ability of an aset to be converted into cash quickly without loss of value. | liquidity |
The dat on which an investment becomes due for payment. | maturity date |
Money paid by the financial institution for the use of the saver's money. | interest |
A savings account at a credit union. | share account |
A sum of money in a savings account on which interest is earned. | principal |
Interest computed on the principle plas accumulated interest. | compound interest |
The amount of money left over after the bills are paid. | discretionary income |
A person who buys and sells securities for investors. | stockbroker |
A combination saving-investment plan in which the money deposited is used to purchase safe, liquid securities. | money market account |
A deposit that earns a fixed interest rate for a specified length of time. | certificate of deposit |
Stocks and bonds issued by corporations or by the government. | securities |
The actual interest rate an account pays per year, with compouning included. | annual percentage yield |
A bond purchased for less than its maturity value. | discount bond |
A contract sold by an insurance company that provides the investor a series of regular payments, ususally after retirement. | annuity |
An investment strategy for spreading the risk amoung different types o investments. | diversification |
The use of savings to earn a financial return. | investing |
A rise in the general level of prices. | inflation |
The chance that an investemnt's value will decrease. | risk |
An SEC-required summary of a corporations financial results for the year and prospects for the future. | annual report |
A unit of ownership in a corporation. | stock |
Professional investent planners who are trained to give investemnt advice. | financial advisor |
An investment that represents the debt of a company or a government. | bond |
A professionally managed group of investments bought using a pool of money from many investors. | mutual fund |
Contracts to buy and sell commodities or stocks for a specified price on a specified dat in the future. | futures |
The right, but not the obligation, to buy or sell a commodity or stock for a specified price within a specified time period. | option |
Low-priced stocks of small companies that have no track record. | penny stocks |
Technique for estimating the number of years required to double your money at a given rate of return. | rule of 72 |
All that a person owns, less debt owed, at the time of the person's death. | estate |
A compnay-sponsored retirement plan in which employees recieve, at normal retirement age, a specified amount based on wages earned and number of years of service. | defined-benefit plan |
A loan against the equity in the borrower's home in which the lender moves tax-free monthly payments to the borrower. | reverse morgage |
A retirement savings plan that allows individuals to set aside up to $2,000 per year and delay paying tax on the earnings until thata begin wihtdrawing it at age 59 1/2 or later. | individual retirement account |
A legal document that tells how a decendent wishes his or her property to be distributed after death. | will |
People who recive property from someone who has died. | heirs |
A legal document that empowers a trustee to control property for ultimate distribution to a beneficiary. | trust |
A federal tax on property transferred from deceased people to their heirs. | estate tax |
A state tax on an heir who recieves property froma deceased person's estate. | inheritance tax |
A tax-deffered retirement savings plan available to self-employed individuals. | Keogh plan |
A company-sponsored retirement plan in which employees may choose to contribute part of their salary as a tax-deferred investment. | defined-contribution plan |
Preparing a plan for transferring property during one's lifetime and at one's death. | estate planning |
A legal document that makes small changes to a will. | codicil |
A legal document authorizing someone to act on your behalf. | power of attorney |
A tax on a gift of money or property, to be paid by the giver, not the receiver, of the gift. | gift tax |
Money borrowed to buy something now, with the agreement to pay for it later. | credit |
An agreement to have a service performed now and pay for it later. | service credit |
Laws setting maximum interest rates that may be charged for loans. | usury laws |
A legal business that makes high interest loans based on the value of personal possessions pledged as collateral. | pawnbroker |
A pre-established amount that can be borrowed on demand with no collateral. | line of credit |
A service to credit customers whereby purchases are not billed for several months. | deferred billing |
Unlicensed lenders who charge illegally high interest rates. | loan sharks |
An agreement to lend the borroweer an amount up to a stated limit and to allow borrowing up to that limit again, whenever the balance falls below the limit. | open-ended credit |
A loan for a specific amount that must be repaid, in full, including all finance charges, by a stated due date. | closed-end credit |
Property owned that is worth more than the owner's debt. | capital |
Propery pledged to assure repayment of a loan. | collateral |
Total dollar amount of all interest and fees you pay for the use of credit. | finance charge |
The cost of credit expressed as a yearly percentage. | annual percentage rate |
A person or company hired by a creditor to collect the overdue balance on an account. | debt collector |
A business that accumulates, stores, and sells credit information to subscribers. | credit bureau |
A responsible attitude towards living up to agreements, often judged on evidence in the person's credit history. | character |
A written statement of a consumer's credit history, issued by a credit bureau to its business subscribers. | credit report |
The financial ability to repay a loan with present income. | capacity |
A complete record of a person's borrowing and repayment performance. | credit history |
Treating people differently based on prejudice rather than individual merit. | discrimination |
A measure of creditworthiness based on an analysis of the consumer's financial history. | credit rating |
An on-campus building that contains many small rooms that colleges rent to students. | dormitory |
A building with the same idea as a dorm but you are responsible for cleaning, maintenance, and cooking in exchange for a lower rent. | housing cooperative |
A living space that is one big room. | studio apartment |
A living space that has two stories. | townhouse |
An amount of money paid upfront in order to secure your apartment. | deposit |
One livien space divided out into tow seperate living spaces. | duplex |
Individually owned apartment style living spaces. | condminiums |
A refundable amount of money paid in advance to protect the owner against damage or non-payment. | security deposit |
A non-refundable amount that you pay for a service. | fee |
The owner of a rental property. | landlord |
The person who rents from the landlord. | tenant |
A written agreement that allows a tenant to use the property for a specified time period and rent. | lease |
A legal document that establishes ownership. | title |
The expenses incurred in transferring ownership from buyer to seller in a real estate transaction. | closing costs |
A real estate marketing service in which agents from many real estate agencies pool their home listings and agreee to share commissions on the sales. | multiple listing service |
The highest price that a property can sell for. | market value |
A mortgage on which the interest rate doesn't change during the term of the loan. | fixed-rate mortgage |
A formal agreement to the terms of an offer, forming a contact between the parties. | acceptance |
A legal document that transfers titles of real property from one party to another. | deed |
A formal document that expresses interest in entering into a contract with someone else. | offer |
The difference between the market value of property and the amount owed on it. | equity |
An offer in response to another offer. | counter offer |
A portion of the purchase price that the buyer deposits as evidence of good faith to show that the purchase offer is serious. | earnest money |
A financial claim on property. | lien |
A mortgage for which the interest rate changes in response to the movement of interest rates in the economy. | adjustable-rate mortgage |
A mortgage finance charge paid by the borrower at closing, with each point being equal to 1% of the loan amount. | points |
Finding out how much money you will be qualified to borrow before making a purchase. | pre-approval |
What you learn the history of any car from. | vehicle identification number |
A test to verify that a car meets the minimum clean-air standards. | emissions test |
The manufacturers suggested retail price on the tag. | sticker price |
A price somewhere between the sticker price and the invoice price. | fair price |
High priced, high profit dealer services that add little or no value to the car, but are added to make the dealer more money. | dealer add-ons |
A written agreement that allows you to use the car for a certain time period and monthly payment. | car lease |
A car with substantial defects that the manufacturer has been unable to fix. | lemon |
When a car permanantly loses its color and shine because of a chemical reation with the air. | oxidize |
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