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Financial Literacy in the News

Glossary of Terms

In finance, a basis point is a technical way of saying one hundredth of one percent. If you have a mortgage at an interest...
In most states when you buy automobile insurance, the insurance company will send you an ID (identity) card along with your policy. This is usually a small card that...
In a homeowners insurance policy, a floater is the name given to coverage provided for items of property that can be readily moved. This includes things like expensive jewelry and furs.
When you buy a basic homeowners insurance policy, even though you might understand that it will not cover you against absolutely anything that can go wrong, you might expect it would cover you if your house were flooded....
This is a type of trust that, once created, cannot be modified, amended, or revoked by the grantor, the person who set up the trust. Assets transferred into the...
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