The cooling-off rule is a regulation that gives customers a right to cancel certain types of contracts within three days after they sign them. The rule is designed to protect consumers who make impulse purchases or who sign contracts without fully understanding them. The cooling-off rule applies to a variety of contracts, including door-to-door sales, … Read more
What Is Magna Cum Laude? Magna cum laude is an academic distinction that students may earn by graduating with a high GPA. Find out more about what it is and how to earn it. What GPA is highest honor? There is no definitive answer to this question since different schools have different standards for what … Read more
The term “B-School” is a shortened version of the term “Business School”. Business Schools are specialized schools that offer programs and degrees in business and related fields. These programs typically include courses in accounting, finance, marketing, and management. Business Schools can be found at both the undergraduate and graduate level, and many offer professional development … Read more
The Annual Equivalent Rate (AER) is the rate that shows what the interest rate would be if interest were paid and compounded once each year. This is a standard way of showing the interest rate so that you can compare products easily. The AER is always lower than the interest rate. What effective rate is … Read more
. Types of Sweep Accounts and How They Work Can you withdraw from a sweep account? A sweep account is a type of account that automatically transfers funds from a primary account to a secondary account when the primary account reaches a certain balance. The funds are typically transferred to an account with a higher … Read more
Savings Accounts: How They Work. What are the 4 types of money? 1. Traditional Savings Accounts – These are the most common type of savings account and usually offer relatively low interest rates. However, they may offer some additional benefits such as a sign-up bonus or ATM access. 2. High-Yield Savings Accounts – These accounts … Read more
An open house is an event during which a house or other property is available for prospective buyers to view. Open houses are typically held on weekends, and they give buyers the opportunity to see a property without having to schedule a showing. Can you put an offer on a house without viewing it? It … Read more
An education loan is a type of loan specifically intended to finance a student’s education. Education loans can be used to pay for tuition, room and board, books and other education-related expenses. Education loans typically have low interest rates and may be subsidized, which means the government pays the interest while the student is in … Read more
A deferment period is a designated amount of time during which a borrower is not required to make payments on their student loan. This can be a helpful option for borrowers who are experiencing financial difficulties or who are returning to school. Who is eligible for student loan deferment? There are a few different types … Read more
Third-party insurance is insurance that is purchased by an individual from a company other than the individual’s own insurance company. This type of insurance is often required by state law in order to protect the individual from being sued by another party in the event of an accident. What are the 4 types of insurance? … Read more
