Word of the Day Vocab Quiz 10

a type of savings account that offers a more competitive interest rate than a regular savings account

• Money Market account

• Standard savings account
• Regular savings account
• Basic savings account

specialize in making loans and usually charge higher interest rates

• investment bankers
• credit unions
• finance companies

• mortgage brokers

the minimum amount of money in your account to process a transaction

• minimum balance

• overdraft protection

• insufficient funds

• line of credit

not having enough money in your account to process a transaction

• insufficient balance
• lack of funds
• inadequate money
• insufficient funds

unable to be turned into money quickly

• liquidity

• flowing
• solvent
• illiquidity

the amount of money you can charge on a credit card or borrow

• Credit Score
• Interest Rate
• Debit Limit
• Line of Credit

a legal business that makes high-interest loans based on the value of personal possessions pledged as collateral

• Payday loan center
• Title loan company
• Jewelry store
• Pawn shop

if you write a check for more than you have in your account it allows you to pay back the money without penalty or fee up to a certain amount

• Overdraft fee
• Overdraft protection
• Credit limit increase
• Late payment charge

insurance that protects money in the bank up to $250,000

• FIDC insurance
• ICDF insurance
• NCDI insurance
• FDIC insurance

able to be turned into money quickly

• solid
• illiquidity

• plasma
• liquidity