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Financial Algebra Ch 4-5 Vocab Flashcards | StudBud
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Financial Algebra Ch 4-5 Vocab
Financial Algebra Ch 4-5 Vocab
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Financial Algebra vocabulary words for Chapters 4 and 5 Credit and Automobile Ownership
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1
Uninsured / Underinsured Motorist is somebody who ...
is liable in the accident
was negligent in the accident
does not have enough insurance.
was not driving
2
The interest you pay on a loan.
Finance Charge
Balance
Credit
Surcharge
3
What is the benefit of totalling your 4-year old car?
Unfortunately, there isn't one.
You can fix it cheap.
You get rich!
You get a new car!
4
You submit this to tell the insurance company they need to pay you money for some reason.
Letter
Bill
Email
Claim
5
This insurance pays for the medical bills of the people in your car hurt in an accident
Personal Injury Protection (PIP)
Bodily Injury
Property Damage
Negligence Insurance
6
The maximum amount of money somebody is willling to lend you.
Credit Score
Debit Card
Credit Line
Credit Card
7
The difference between the amount your creditor will loan you and the amount you borrowed
Credit Line
Available Credit
Finance Charge
Payment History
8
Something of value that you own. Examples are car, house, jewelry, etc.
Liability
Asset
Ownership
Credit
9
The date you have to pay your credit card or loan bill
Billing Date
Payment Due Date
Closing Date
Credit Date
10
The value of an asset decreases over time
Depreciation
Deceased
Exponential
Straightline
11
Used to calculate the finance charge on a credit card bill
Ending Balance
Credit Line
Average Daily Balance
Starting Balance
12
Change in y divided by the change in x
Slope
y- Intercept
Origin
x-intercept
13
The middle value of a sorted list of data elements
Mean
Median
Bimodal
Mode
14
The data element that appears most often
Moneytree
Mode
Mean
Median
15
The yearly amount you pay to buy an insurance policy.
Premium
Billing Cycle
Periodic Rate
Wage Assignment
16
What has been your favorite chapter in Financial Algebra so far?
5) Automobiles
2) Business
3) Banking
4) Credit
17
A fourth of the data
Quartile
Quadrilateral
Quadrant
Quarter
18
The day your lending institution closes the month and calculates finance charges
Printing Date
Billing Date
Minimum Balance
Periodic Rate
19
Add them up and divide by the number of data points in the set
Mean
Quartile
Median
Mode
20
Your financial report card used to determine your credit worthiness
Credit Rating
Promissory Note
Credit Reporting Agency
FICO Score
21
The person who looks at the data and decides on premium rates for an insurance company
Agent
Lender
Principal
Actuary
22
A data value that's real far away from the rest of the data
Quadrant
Outstanding
Bimodal
Outlier
23
If you are legally responsible for the damages of an accident, you are...
Bimodal
a Debtor
Liable
Mean
24
If you cause an accident and your car is damaged, insurance pays the money above this amount.
Premium
Down Payment
Previous Balance
Deductible
25
The buyer pays a portion of the selling price at the beginning of a large purchase
Debit
Wage Assignment
Down Payment
Collateral
