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Personal Finance 2
vocabulary review
| Term | Definition |
|---|---|
| bonds | debt obligations of corporations or the government |
| borrower | the person who borrows money or uses another form of credit |
| broker | a person who buys and sells stock on an exchange, on behalf of a buyer or invester |
| budget | an organized plan whereby you match your expected income to your expected outflow |
| Bull market | a rising stock market(in both volume and prices), which is characterized by optimism |
| business | an organization that produces goods and services |
| call option | the right to buy stock or futures contracts at a fixed price until the expiration date |
| callable bond | bonds that can be recalled, or paid off, before their maturity date |
| canceled check | checks the bank has processedf |
| capacity | the ability to repay loan from present income |
| capital | wealth available to produce more wealth; assets of a person or business after liabilities are deducted |
| capital gains | profits from sale of assets, such as stocks, bonds or real estate that are not taxed until the asset is sold |
| capital goods | buildings, tools, machinery and other manufactured items used to produce goods and services |
| cash advance | a loan taken out by charging an amount of cash to a credit card |
| cash flow (positive) | the excess of income over and above expenses |
| cashier's check | a check written by a bank on its own funds in exchange for payment by an individual |
| Certificate of Deposit (CD) | a time certificate representing a sum of money deposited for a set length of time, such as six months |
| certified check | a personal check that the bank guarantees to be good |
| charge card | a credit card which requires full payment of the bill each month; no interest is charged |
| check card | also called a debit card; it works like a check. It is used to access funds from your checking account |
| checkbook register | a record of deposits to and withdrawals from a checking account |
| checking account | a banking service where money is deposited into an account and check are written to withdraw money as needed |
| Closed-end credit | a contract for the loan of a specified amount in which the contract issued tells the amount of purchase, the total finance charge, and the amount of each payment |
| Co-signer | someone who signs a loan with the borrower and promises to assume the responsibility of repaying the debt in the event that the borrower does not repay it |
| Collateral (security) | savings, bonds, insurance policy, jewelry, property that is pledged to pay off a loan or other deft if payments are not made |
Created by:
SusieQ60
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