Across
- 1. a person’s record of using credit.
- 2. When a potential creditor accesses your credit report to examine your credit history and determine your ability to repay.
- 4. Type of loan taken out to obtain a home.
- 7. allows consumers to borrow up to some preset maximum amount. An example would be a credit card.
- 8. When someone uses your personal information without your permission for personal gain.
- 11. The interest rate remains the same for the life of the loan.
- 14. Amount taken home after taxes and deductions. Also referred to as net pay.
- 17. provides health care coverage to older or disabled Americans.
- 18. money a lender makes available to a borrower with the understanding that the borrower will repay the money in the future.
- 22. a branch of the U.S. Treasury Department that carries out the federal tax system. Often referred to as the IRS.
- 25. A period in which the economy is shrinking.
- 27. The date at which the loan will be completely repaid.
- 31. Combining several small accounts into one larger account that you may be able to finance at a lower rate at a bank or with another lender.
- 35. a fixed amount all people are allowed to deduct from their AGI to reduce their tax liability
- 37. Money collected by a government from its citizens for the purpose of operating the government.
- 39. The study of choices.
- 42. fees charged by a lender on borrowed money.
- 43. Regular payments paid to an insurance company in return for insurance coverage.
- 46. a financial product that provides payment for medical services when people suffer a financial loss because of illness or injury
- 49. Loans that have no collateral pledged against the loan.
- 52. Focuses on the study of individual choices or decisions made by smaller units, such as a firm.
- 54. a formal report to the IRS that contains all the information relative to a person’s income taxes for a specific year.
- 57. the amount of money a person takes home after taxes and deductions. Also referred to as take home pay.
- 61. Used for specific purchases but allows the borrower more time to repay the money.
- 62. Total amount of a person’s income from almost any source.
- 64. The Free Application for Federal Student Aid is a six-page form that requires detailed financial information from you and your parents.
- 65. Summarizes a person’s credit history, including applications for credit of any kind, payment record for bills, whether you have paid late fees, and any other public information.
- 67. A period of very high birth rates after World War II that occurred between 1946 and 1964.
- 68. A loan that has some asset pledged against the loan so that the lender is assured of ending up with some valuable asset if the borrower fails to pay off the loan.
- 69. Upfront money from the buyer that is sued to pay for a portion of the house.
- 70. Additional insurance coverage to cover things such as jewelry or valuable heirlooms that are often not fully covered by a typical insurance policy.
- 72. Covers you against any damage you do to other people or their property.
- 73. a financial product that, when purchased, provides reimbursement paid to a person in the event of certain types of financial loss.
- 74. Higher interest rate mortgage loans made to people with poor credit scores.
- 75. Insurance plans that cover a large group of individuals, such as all the employees of a company or local government.
- 76. the total amount of money outstanding on a loan.
- 77. Total income minus allowable amounts such as retirement contributions, alimony, student loan interest, and other expenses allowed by IRS. Abbreviated as AGI.
- 78. Health conditions that existed before one’s insurance policy was granted.
- 79. A required portion of the purchase price paid at the time of purchase.
Down
- 1. Organizations that collect credit information about individual consumers.
- 3. A sustained increase in the general level of prices.
- 5. The rate that factors in all the financing costs so that borrowers know exactly what they are paying and can make informed decisions. Abbreviated as APR.
- 6. An agreement to allow borrowing as needed up to a certain amount of money.
- 9. A time allowed by credit card companies in which you are not charged interest on purchases.
- 10. The amount of money a policyholder pays prior to the insurance company’s payment.
- 12. This rate may go up or down over time. Abbreviated as ARM.
- 13. a taxable gain that occurs when you sell an asset for more than you paid for it.
- 15. Someone other than the borrower who agrees to sign the loan document and repay the loan if the original borrower stops making payments.
- 16. Credit card feature that allows people to exceed their credit limit.
- 18. a numeric score that uses your credit history to assess your creditworthiness.
- 19. deals with broad issues that impact the economy as a whole.
- 20. Ensures that workers can continue their health insurance coverage even if they switch jobs.
- 21. specific expenses that can be deducted from income to reduce the amount of income that will be taxed.
- 23. Alternating periods of shrinking & growth, or contraction & expansion, in the economy.
- 24. The total dollar amount of all final goods and services purchased within the nation’s borders in each year.
- 26. a process in which the courts provide protection for a person who is unable to pay off his or her debts.
- 28. A lender provides cash advances at a high cost to customers in exchange for one of their checks dated for some time in the future.
- 29. provides individuals with revolving open-end credit, which can be drawn from repeatedly up to some preset limit.
- 30. Allows a homeowner to borrow against the equity in her or her home.
- 32. A severe recession.
- 33. Assets that have been pledged against loan repayment.
- 34. The world in which economies of all countries interact and depend on each other.
- 36. The study of human populations.
- 38. The formal measure of inflation that tells whether things overall are more expensive now than in the past.
- 40. Allows you to continue health insurance coverage for up to 18 months after your employment ends.
- 41. An extremely low interest rate for a short period of time used as a deal sweetener.
- 44. incudes federal taxes and state taxes.
- 45. federal and state taxes withheld from a person’s paycheck and sent directly to the government by the employer.
- 47. The person who buys a health insurance policy or subscribes to it through an employer.
- 48. An insurance pan that pays a specific person or persons when the policyholder dies.
- 50. credit extended for a short term, such as 30 days or less.
- 51. provides payments to eligible retirees and disabled people.
- 53. Financial institutions, such as banks, that agree to make a certain amount of credit available.
- 55. A business that holds an item as collateral in exchange for a short-term loan.
- 56. An asset pledged as security for repayment of a loan.
- 58. the difference between the home’s value and the amount owed to a lender.
- 59. A long-term rental agreement.
- 60. The system in which individuals, businesses, governments, and the world as a whole interact.
- 63. The share of costs for covered insurance services that the insured person is required to pay out of her or her pocket.
- 66. A type of credit typically started at the time of purchase for a specific asset.
- 71. the total amount of money earned before deductions.