Financial Terms Quizs

Deductible

• Amount of money paid prior to insurance kicking in and paying.

• A type of insurance policy that covers all expenses.

• The total amount an insurance company will pay for a claim.

• A fee paid to the insurance agent for their services.

FICO Score

• A score that rates your credit, 300-850.

• A score that measures your income level, 100-500.

• A score that indicates your savings account balance, 0-1000.

• A score that evaluates your investment portfolio, 200-900.

Liquidity

• The ability to generate profit from an asset.

• How quickly an asset can be converted into cash.

• The total value of an asset in the market.

• The risk associated with holding an asset.

NCUA

• National Credit Union Administration.

• National Community Union Association.

• National Credit Users Alliance.

• National Cooperative Union Agency.

Bankruptcy

• A declaration that you are unable to pay your debts.

• A legal process to acquire a loan.

• A method to increase your credit score.

• A type of investment strategy.

Interest

• Money paid for a loan or money earned from an investment.

• A fee charged for late payment of a bill.

• A type of savings account with no interest.

• The total amount of money borrowed or invested.

Grace Period

• The time a lender gives you prior to having to make a payment.

• A penalty fee for late payments.

• A period during which you can apply for a loan without interest.

• The time allowed for a borrower to repay a loan in full.

Bear Market

• A period of rising stock prices.

• When the stock market experiences an extended period of loss.

• A market characterized by high volatility.

• A situation where stock prices remain stable.

Treasury Department

• Department that oversees the printing of money.

• Agency responsible for national defense.

• Department that manages foreign relations.

• Office that regulates the stock market.

Gross Pay

• Pay after taxes and deductions.

• Pay prior to taxes and deductions.

• Net pay received by the employee.

• Total earnings including bonuses and overtime.