Cyber Foundations Exam

What do you call the money that you receive for work or you have earned through investments?

Income

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

Insurance

What is the fee called that you pay for the use of a credit card company's or another person's money?

Interest

This is the amount of money you have in a account.

Balance

A ___________ is your financial spending plan.

Budget

A ____________ bank account pays little or no interest, but you can withdraw money when you want by writing a check or using your debit card.

Checking

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

Deduction

A ________ ____________ is a amount paid before a large purchase that reduces the loan amount and proves your intention and ability to repay the loan.

Down Payment

An ___________ is anything that you spend money on, whether it is a necessity or a luxury.

Expense

Your _____________ income is the amount of money you make before your taxes and deductions are taken out.

Gross

A ___________ is a contract to use someone else's property for a specified rate and length of time.

Lease

A __________ is a loan used to buy a home, often with a term of 15-30 years.

Mortgage

Your ___ income is the amount of money you may spend or save after taxes.

Net

Your _________ ____________ is the amount that you own in assets minus the amount you owe in liabilities

Net Worth

This occurs when money is withdrawn from a bank account and the available balance goes below zero. $0.00.

Overdraft

A _________ is a document detailing the type and amount of coverage that you insurance offers.

Policy

___________________________ are your contributions to state and federal governments to pay for things like public services, roads, bridges, etc.

Taxes

What is the type of expenses where the amount can very every month?

Variable

A _______ is a request you submit to your insurance provider to pay for covered expenses.

claim

What is the type of expenses that are the same every month, the amount does not change?

fixed