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Flashcards in Final Deck (24):
0

Resume

A brief summary of your job application, including education/skills

1

Cover letter

A letter of introduction that you send with your resume to a potential employer

2

Common stock

A voting share of ownership in a corporation for which the dividend varies, as determined by the board of directors

3

401K

A tax deferred retirement plan offered to employees by their employers

4

Checking account

A bank account that allows depositors to write checks to make payments

5

Direct deposit

Depositing an employee's pay into the employee's bank account electronically

6

Cancled check

A check that has been paid w/ the banks stamp on it

7

Cashier's checks

Banks own personal check signed by cashier. Payment of this check comes from the banks own funds

8

Savings account

An account where you deposit in a savings institution that earns a fixed interest for a specific period of time

9

Money market account

A deposit for which the interest rate changes over time as interest rates in the economy change

10

Savings & loan

A financial institution that specializes in lending money to buy homes

11

Credit unions

Financial institution that provides banking services to people that share a common bond

12

Mutual funds

A business that accepts deposits from many people to invest in various ways

13

Diversification

Distributing funds among a variety of investments to minimize overall risk

14

Inflation

General increase in the average level of prices in a nation's economy

15

Creditworthiness

A measure of your ability and willingness to repay a loan

16

Character

A measure of your financial responsibility, often based on credit history

17

Capacity

A measure of financial ability to repay a loan

18

Capital

The value of what you own, including savings, investments and property

19

Credit limit

The maximum amount that you may charge on your credit account

20

Term life insurance

Life insurance that pays a death benefit if the policyholder dies within a specific time period but has no remaining value at this time

21

Mortgage

Loan to buy real estate, such as land or a home

22

Down payment

% of the purchase price that the borrower pays up front

23

Insurance

Risk management tool that limits financial loss due to illness, injury or damage in exchange for a premium