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Financial Literacy in the News

Glossary of Terms

In insurance, mandatory refers to insurance that you are required by state law to purchase. Typically, it refers to automobile insurance; in many states it is mandatory to have a...
This is an insurance term. It is when someone who has bought insurance is tempted to do something illegal to receive money from the insurance policy. In other words, moral hazard exists...
This is when you write a check but instead of writing in that day's date, you put in a date that is sometime in the future. This means that the payee will not be able to...
This is another name for the interest rate that is payable on a debt instrument, such as a bond. For example, a bond that has coupon rate of 10% pays 10%...
This real estate word has two meanings: (1) a building with just two living units in it, usually one on top of the other, sometimes called a "two flat" (for example, "Bill lives in the top unit of a duplex") and (2) a single living...
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