Econ u5

disabled

Businesses have a legal responsibility to make certain accommodations for ____ customers.

fir credit reporting act

Consumers are allowed to request a free credit report every 12 months.

Bankruptcy

During a(n) _____, the borrower gives up any valuable property in order to pay off his or her lenders.

Roth individual retirement account (Roth IRA)

Earnings from this account are not subject to tax if withdrawn after age 59 ½.

401(k) plan

Employers can match employee contributions to retirement savings.

Individual Retirement Account (IRA)

Individuals with earned income use this to make tax-deferred investments for retirement.

credit

Making on-time payments will boost one's _______ score.

Brokeage

Most investors use a ____ to handle investment transactions, track investments, and receive statements on a regular basis.

liability

Motorists in every state are required to have _______ insurance.

partnership

Multiple people share the profit, loss, risk, and work of ownership in this type of business structure.

capital

One benefit of banks is that individuals create large pools of ________.

level of education

One's ______ will most affect future earning potential.

stocks

Over time, ____ generally increase in value due to new technology, trade opportunities, employee labor, and new ideas.

financial

Passive investors may wish to enlist the help of a(n) ______ advisor.

equity

The worth or value of a home to an owner after subtracting any home loan is the ________.

transaction

This agreement is reached by a buyer and seller to exchange services and goods.

Reconciliation

This compares two sets of records to ensure accuracy.

NASDAQ

This electronic stock exchange is home to many large technology company stocks.

Disability Insurance

This financial product benefits workers who are physically unable to work.

Dow Jones Industrial Average

This index tracks 30 of the most influential American companies.

mutual funds

This investment was created to help investors pool money and benefit from professional money managers.

commercial loan

This is offered by banks to help small businesses begin or expand.

Free Application for Federal Student Aid (FAFSA)

This is the best way to pursue government aid for college expenses.

Chicago Mercantile Exchange (CME)

This stock exchange specializes in agricultural financial investments.

delayed gratification

This term describes waiting for a later, greater reward by resisting the temptation to receive an immediate reward.

Standard's Poor's 500

This tracks the performance of hundreds of American companies.

limited liability company

This type of business structure provides protection against personal liability.

standard fixed-rate loan

This type of loan charges the same rate and payments for the life of the loan.

mortgage loan

This type of loan is secured by the same property that it is being used to purchase.

money market

This type of savings account offers a higher interest rate but requires a higher balance.

investors will pay more for older bonds with higher interest rates

When interest rates go down, bond fund prices go up because ___.

risk

Wise investors understand the ______ involved before making an investment.

Barrels of oil

_____ are commodities.

comprehensive

______ insurance protects against all kinds of damage, including "acts of God."

interest

______ is the income the lender receives from loaning money.

paycheck

______ loans charge very high fees and interest rates.

term

_______ life insurance will only pay a benefit if the insured person dies within a certain time period.

townhome

a residence that has a small backyard and front porch and shares walls with other homes

Education Tax Credits

enables college expenses to reduce one's tax burden dollar for dollar

consumer loan

offered to individuals to meet personal or household needs

home loan

used to purchase private residences

capital

Banks create large pools of _______ from which others may borrow.

stock exchange

A marketplace where stocks are bought and sold is a(n) ______.

Check Register

A(n) ____ allows bank customers to keep track of their balances as they make transactions.

down

A(n) ____ payment is a percentage of the full purchase price and is meant to prove a buyer's intent.

savings

A(n) _____ account is a place to hold money while earning minimal interest.

checking

A(n) ______ account allows customers to pay with paper "tickets" or electronic transfers drawn directly from the account.

private

A(n) ______ company does not have or allow trading of its ownership by stockholders.

commodity

A(n) ______ is interchangeable with other goods of the same kind.

publicly

A(n) ______ traded company issues shares of ownership through stock offerings.

scholarship

A(n) _______ is money awarded for education expenses because of need or merit.

index

A(n) _______ tracks a segment of a market or an entire market.

federal

A(n) ________ loan must be repaid after a student finishes attending college.

history

Building a good credit ______ is important for being able to purchase a home or other expensive items.

commission

A(n) charge for financial advice or a transaction is called a(n) ______.

diversification

According to the principle of _____, investors divide their money among multiple investments.

New York Stock Exchange (NYSE)

America's largest city is home to the world's largest stock exchange.

single-family home

A ____ symbolizes the ideal of the American Dream and is not connected to any other building.

exchange-traded fund

A basket of investments can be traded just like stocks.

security

A bond issued and backed by the government is called a government ______.

declaring bankruptcy

A borrower must give up valuable assets to help repay a lender when _______.

dividend

A company may pay a(n) ______ out of earnings to stockholders.

entity

A legal ______ is a group or organization recognized by the government as such.

maturity

A loan or CD must be repaid when it reaches ______ after a certain period of time.

Corporation

Stockholders who own the company are not directly liable for company actions.

principal

The amount of a loan used to calculate interest is the ______.

FHA

The federal government has insured ___ loans since they were created as part of a New Deal program.

flexible-rate

The mortgage and interest payments can fluctuate as interest rates change in a ___ loan.

Sole Prioprietorship

The owner has freedom, but also has trouble getting loans and is subjected to personal liability.

foreclosure

The taking over of a home by a lender once a homeowner can no longer pay for his or her home loan is a(n) ______.

military aid

allows members to receive aid for college through the Montgomery G.I. Bill

manufactured home

an economical residence made of lesser-quality materials susceptible to storms

condominium

apartment-like dwelling of which homeowners can own individual units

grant

direct aid based on eligibility that does not have to be repaid