Banzai Vocabulary Words Test

Deduction

• A reduction to the amount of taxable income you made in a year.

• A request you submit to your insurance provider to pay for covered expenses.

• A document detailing the type and amount of coverage that your insurance offers.

• An amount paid before a large purchase that reduces the loan amount and proves your intention and ability to repay the loan.

Claim

• A reduction to the amount of taxable income you made in a year.

• A request you submit to your insurance provider to pay for covered expenses.

• A document detailing the type and amount of coverage that your insurance offers.

• An amount paid before a large purchase that reduces the loan amount and proves your intention and ability to repay the loan.

Down Payment

• A reduction to the amount of taxable income you made in a year.

• A request you submit to your insurance provider to pay for covered expenses.

• A document detailing the type and amount of coverage that your insurance offers.

• An amount paid before a large purchase that reduces the loan amount and proves your intention and ability to repay the loan.

Policy

• A reduction to the amount of taxable income you made in a year.

• A request you submit to your insurance provider to pay for covered expenses.

• A document detailing the type and amount of coverage that your insurance offers.

• An amount paid before a large purchase that reduces the loan amount and proves your intention and ability to repay the loan.

Expense

• Anything that you spend money on whether it is a luxury or an expense.

• A contract to use someone else's property for a rate and specific amount of time.

• The amount of money you make each month compared to how much debt you have to pay.

• A service that provides protection against unpredictable events such as a car accident or broken arm.

Lease

• Anything that you spend money on whether it is a luxury or an expense.

• A contract to use someone else's property for a rate and specific amount of time.

• The amount of money you make each month compared to how much debt you have to pay.

• A service that provides protection against unpredictable events such as a car accident or broken arm.

DTI (Debt to Income)

• Anything that you spend money on whether it is a luxury or an expense.

• A contract to use someone else's property for a rate and specific amount of time.

• The amount of money you make each month compared to how much debt you have to pay.

• A service that provides protection against unpredictable events such as a car accident or broken arm.

Insurance

• Anything that you spend money on whether it is a luxury or an expense.

• A contract to use someone else's property for a rate and specific amount of time.

• The amount of money you make each month compared to how much debt you have to pay.

• A service that provides protection against unpredictable events such as a car accident or broken arm.

Net Worth

• The amount you own in assets minus the amount you owe in liabilities

• The original amount of money borrowed

• Contributions to state and federal governments to pay for things like services and infrastructure.

• A self funded retirement account that invests after tax dollars, so taxes aren't owed when funds are withdrawn at retirement.

Gross Pay

• A percentage of your paycheck taken out for federal income taxes.

• 1.5% of your paycheck goes toward paying this Federal tax

• 6.2% of your paycheck goes toward paying this Federal tax

• The amount of money that you earn before deductions.