Relier Pairs Budgeting and Insurance TerminologyVersion en ligne Matching game to identify definitions of various budgeting and insurance terms par Tonya Saoudi 1 Payroll deductions 2 Deficiency clause 3 Late fees 4 Finance charge 5 Consumer Bill of Rights 6 Asset 7 Contract 8 Closing costs 9 Expenses 10 CPSC 11 Financial planning 12 Budget 13 FDA 14 Income 15 Default 16 Opportunity cost 17 Grace period 18 Repossess 19 Promissory note 20 Money management 21 Reconcile 22 Amortization 23 Payment methods 24 Net income 25 Gross income 26 Installment loan How a person manages money coming in and going out The amount of a paycheck that a person can actually spend; gross income less any payroll deductions A federal agency that sets and enforces safety standards on household appliances, toys, and tools Any money a person spends or gives away A blueprint or plan for managing all aspects of a person’s money The value of what is given up when a person chooses one option over another The total dollar amount a person pays to use credit Legal and binding contract signed between lender and borrower stating borrower will repay loan per the terms of the contract A plan for spending and saving money based on a person’s goals during a given time period The time between the billing date and the payment due date when no interest is charged A loan in which the amount of payment and the number of payments are predetermined, such as an automobile loan A creditor can repossess (or take back) and resell goods Forced or voluntary surrender of merchandise as a result of a consumer's failure to repay a loan as promised Fees and charges for which a seller and buyer are responsible when a real estate transaction is A federal agency that sets and enforces safety standards for food, drugs, and cosmetics Payment of a portion of the principle of a mortgage loan, reducing or amortizing the mortgage Failure to repay a loan in accordance with the terms of the promissory note Amounts subtracted from gross income that is withheld by an employer for items like taxes and employee benefits Money that a person receives such as a paycheck from a job, an allowance from parents, or interest earned on a savings account State of the Union 1962-JFK: 1) right to safety, 2) right to choose, 3) right to be informed, 4) right to be heard The fees that credit card companies charge when you pay your bill past the due date Means of accepting payment; most common are credit card, electronic check, phone charge, corporate account, and invoice An agreement between two or more people that can be enforced by law Any items of value that people own, including cash, property, personal possessions, and investments Total income amount of income from wages or salary before payroll deductions To check a financial account against another for accuracy 1 Liability insurance 2 Premium 3 Claim 4 Underinsured 5 Insurance rates 6 Permanent life insurance 7 Collision insurance 8 Catastrophic health insurance 9 Term life insurance 10 Beneficiary 11 Insurance 12 Major medical insurance 13 Insurance policy 14 Disability income health insurance 15 Uninsured motorist insurance 16 Comprehensive insurance 17 No fault insurance 18 Group health insurance Will cover the cost of repairing your car if it is damaged in an accident with another vehicle Often included in major medical insurance policies. It covers the costs of intensive care, heart surgery, or long illness A formal request made to an insurance company for payment for a loss Life insurance that pays a death benefit if the policyholder dies within a specific time period but has no remaining value at the end of this time. The person designated to receive the benefits of the policy upon the death of another individual Life insurance that provides a death benefit plus a savings plan and lasts for the policy holder’s lifetime. This covers many out-of-hospital costs. It may also extend your basic policy and any additional days of hospital care Protects you whether you are driving or someone else is driving your car with your permission A person who carries insufficient insurance to pay for losses he/she is liable for. The driver's own insurance company pays for accident costs no matter who caused the accident. Covers your car if damaged by fire, flood, earthquake, hurricane, hail, collision with an animal, or stolen The amount of money you pay for your insurance. This is usually less expensive than individual policies. The employer pays a share of the cost and sometimes all of it Will cover you and your immediate family against injury by a hit-and-run driver or a driver who has no insurance. Protects person/family from loss of income due to illness or disabling injury; guarantees continuation of a portion of wage earner’s salary Insurance contract Financial protection purchased to compensate for loss Rates based on risk. Greater risk = greater chance of an accident = higher rate. Factors: geography, driver age/gender, car type/age, coverage
Créer jeu