BPA Banking and Finance
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BPA Banking and Finance
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1. the paying off of debt with a fixed repayment schedule in regular installments over a period of time for example with a mortgage or a car loan; similar to depreciation, which is used for tangible assets, and to depletion, which is used for natural resources

2. personal property put up to guarantee a loan should the borrower fail to repay is

3. A mathematical method that can be used to show how long it will take to double your money in an investment simply by dividing 72 by the rate of interest

4. cost that is fixed (rent, insurance premiums, or loan payments)

5. score that ranges from 300 to 850, and the higher the score, the more financially trustworthy a person is considered to be; Fair Isaac Corporation (FICO) created the standard score model used by financial institutions

6. PRT

7. Worker who handles bank deposits and withdrawals, sell traveler's checks and foreign currency, accept loan payments, prepare certified checks or money orders, and may handle other duties.

8. legal claim on a borrower's property by a creditor who is owed money

9. tax that is levied on an heir's inherited portion of an estate if the value of the estate exceeds an exclusion limit set by law

10. A sum paid or charged for the use of money or for borrowing money

11. smallest payment that will keep a credit card holder in good standing with the lender

12. the value of the homeowner's interest in their home; portion of a home's current value that the owner actually possesses free and clear

13. a monetary exemption which reduces taxable income

14. an asset you buy that increases your wealth over time, but carries the risk of loss

15. an example of an open end credit account

16. A tax levied on value of purchases, usually based as a percentage of total value

17. How many days are in a year for purposes of computing interest compounded daily?

18. charges far more interest than a typical credit card interest charge

19. maximum amount of money a creditor will allow a credit user to borrow

20. (DCA) an investment technique of buying a fixed dollar amount of a particular investment on a regular schedule, regardless of the share price; investor purchases more shares when prices are low and fewer shares when prices are high

21. time between the billing date and the start of interest charges

22. A check that credit card issuers provide that allows you to access cash from your available line of credit

23. a person or company hired by a creditor to collect the overdue balance on an account

24. a type of short-term borrowing where an individual borrows a small amount at a very high rate of interest; generally must be repaid on the next payday

25. party in an exchange who receives payment; person who is receiving the money from a check

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