Econ Unit 6: Week 2 Key Terms

1. A bank card that serves as an alternative payment of cash.

• 1. Credit card

• 1. Debit card

• 1. Credit Score

• 1. Debit score

1. A type of federal student loan where the bank or the government is paying the interest for you while you’re in school, during your post-graduation grace period, and if you need a loan deferment.

• 1. Subsidized student loan

• 1. Scholarship student loan

• 1. Unsubsidized student loan

• 1. Government student loan

1. Provides life insurance coverage only for a specified period of time.

• 1. Disability insurance

• 1. Permanent life insurance

• 1. Temporary life insurance

• 1. Term life insurance

1. A prediction on how likely you are to pay back a loan on time based on information from your credit reports.

• 1. Loan score

• 1. Debit score

• 1. Credit score

• 1. Borrowing score

1. A type of insurance that will provide income in the event a worker is unable to perform their work due to a disability.

• 1. Injury insurance

• 1. Disability insurance

• 1. Life insurance

• 1. Income insurance

1. A type of federal student loan where you are responsible for the interest from the moment the loan money is disbursed into your account.

• 1. Subsidized student loan

• 1. Scholarship student loan

• 1. Unsubsidized student loan

• 1. Government student loan

1. A card that allows you to purchase goods and services now, but pay for it later, plus interest.

• 1. Credit card

• 1. Debit card

• 1. Credit score

• 1. Debit score

1. Provides life insurance coverage throughout the insured’s lifetime as long as premiums are paid as required.

• 1. Disability insurance

• 1. Permanent life insurance

• 1. Temporary life insurance

• Term life insurance