FINANCIAL LITERACY TERMINOLOGY

NAME:___________________________________________________CLASS PERIOD:________ DIRECTIONS: Match the terms in the text box with the correct definition typed in numbers 1-27. Highlight the underline prior to typing in the correct term. Please make your answer BOLD. insurance coverage personal property net income debit card withdrawal finance lease invest bank comprehensive car insurance gross income collision insurance deductible real property debt landlord tax deposit automobile liability insurance asset budget insurance credit union interest liability loan utilities

1. _____________ - total revenue received before any deductions or allowances 2. _____________ - the balance of gross income remaining after all allowable deductions and exemptions are taken 3. _____________ to spend money on something in the hope of a future return or benefit 4. _____________ -an estate or property consisting of movable articles such as furniture, jewelry, stocks or bonds 5. _____________ - an estate or property consisting of lands and buildings, crops, or mineral rights on that land 6. _____________- to grant the temporary possession or use of land, car, apartment, etc. to another, usually for a fixed amount of time and money. Example: if you lease a car, you return it to the dealer after the terms of the lease are over. 7. _____________ - to supply with money or credit for something, usually for a fixed amount of time and interest. Example: if you finance a car, you own it after all payments are made. 8. _____________ - a plastic card that resembles a credit card, but functions like a check and through which payments for purchases or services are made electronically to the bank accounts of participating retailing establishments directly from those of card holders. 9. _____________ - a person or organization that owns and leases apartments to others. 10. _____________ - money or debts owed (opposite of asset). 11. _____________ - items of ownership that can be sold. Total resources of a person or business such as: cash, notes and accounts receivable, securities, inventories, fixtures, machinery, or real estate (opposite of liability)

12. _____________ - a sum of money demanded by a government for its support or for specific facilities or services, levied upon incomes, property, sales, etc. 13. _____________ - something that is owed. An obligation to pay something. 14. _____________ - a cooperative group that makes loans to its members at low rates of interest 15. _____________ - an institution for receiving, lending, exchanging, and safeguarding money and, in some cases, issuing notes and transacting other financial business. 16. _____________ - the act of lending; a grant of the temporary use of something: 17. _____________ - a public service such as electrical, natural gas, or telephone service 18. _____________ a charge made for a, or a payment made by a bank for the use of money deposited in an account 19. _____________ to put money into a bank or other financial institution 20. _____________ a plan for how money will be spent or allocated 21. _____________ taking money out of the bank 22. _____________ - protecting property or ones life against loss or harm arising in specified contingencies such as; fire, accident, death, disablement, or the like, for a payment proportionate to the risk involved. 23. _____________ - the total amount and type of insurance carried (purchased) 24. _____________ - coverage which pays to repair or replace the policy owner's vehicle and personal property inside of it if it was damaged or lost due to something such as fire, theft, flood, or vandalism. 25. _____________ insurance protecting an automobile owner against loss or damage to the automobile resulting from a collision or other accident. 26. _____________ - Insurance that covers the insured in case of legal responsibility for damage caused by an automobile. 27. _____________ - the amount for which the insured has to pay on each loss, injury, etc., before an insurance company will make payment.