Financial Literacy Flashcards

Front

A formal request to an insurance company asking for a payment when the policyholder has an accident, illness, or injury.

Back

Claim

Front

The price paid for using someone else's money.

Back

Interest

Front

A record of the borrower's past loans and credit-related transactions.

Back

Credit History

Front

A financial product purchased by many people facing a similar risk to protect against the risk of larger losses.

Back

Insurance

Front

When another's personal information is used without their permission.

Back

Identity Theft

Front

Skills, knowledge, and experiences possessed by an individual.

Back

Transferable Skills

Front

The portion of current income not spent on consumption.

Back

Savings

Front

An intentional effort to deceive another individual for personal gain.

Back

Fraud

Front

A numerical summary of your credit history that indicates your creditworthiness.

Back

Credit Score

Front

A short-term loan that provides immediate cash by securing a borrower's written check or receiving authorization for automatic withdrawal from the borrower's depository institution account.

Back

Payday Loan