Financial Vocabulary

4. ownership in a corporation.
5. removal of money or securities from a bank or other place of deposit.
6. program financed by state and federal government tax revenues, to pay specified health care costs care for those who cannot afford them.
9. process of paying off one loan with the proceeds from a new loan using the same property as security. Homeowners usually refinance to reduce their monthly mortgage payment or to draw equity that has built up over a period of time.
10. finance/the principles and methods that individuals use to acquire and manage income and assets.
11. computer terminal used to conduct business with a financial institution or purchase items such as postage stamps or transportation tickets; also known as a cash machine interest.
12. loan/unsubsidized loan terms dictate that you begin repaying the interest immediately even if you are in school.
13. person who makes himself or herself available to be engaged for work on particular assignments or projects, rather than being engaged on a long-term or permanent basis by a single employer.
16. government fee on business and individual income, activities, or products.
17. expenses/an item in your budget whose cost is different each month, such as a utility payment.
18. insurance/replaces a portion of income lost when a person cannot work because of illness or injury.
19. interest/interest calculated periodically on loan principal or investment principal only, not on previously earned in

1. insurance/provides property damage and liability coverage under specific circumstances.
2. provision for retirement savings, similar to the 401k that enables an employee to invest a percentage of (pre-tax) income, often matched by the employer, into an account where it will not be taxed until withdrawn, but this type of account is specific to non-profit organizations
3. certificate representing the purchaser's agreement to lend a business or government money on the promise that the debt will be paid — with interest — at a specific time.
4. who conceives of, establishes, operates, and assumes the risks of a business.
7. risk management tool that protects an individual from specific financial losses under specific terms and premium payments, as described in a written policy document. Major types include health, auto, homeowners, life, and renters insurance.
8. period/a time during which a borrower can pay the full balance of credit due and not incur finance charges or pay an insurance premium without penalty.
14. who gives credit for money or goods; one to whom a debt is owed
15. thing lent; something the use of which is allowed for a time, on the understanding that it shall be returned or an equivalent given; especially a sum of money lent on these conditions, and usually with interest.