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Personal Finance 5

vocabulary review

floating a check the practice of writing a check on insufficient funds and hoping to make a deposit to cover the check before it is cashed
futures contract an agreement made today for commodities bought and sold in the future
futures marker a transaction that allows people to know in advance what they will be paid in the future
general obligation bond a bond that is backed by the full faith and credit of a governmental unit
global fund a mutual fund that purchases international stocks and bonds as well as US securities
government securities(3 types) a IOU issued by the US Treasury in order to borrow money. Owners receive fixed interest payments until the IOU is repaid
Treasury bills (a type of government security) are short-term IOUs that are repaid within a year or less
Treasury Notes (a type of government security) are medium-term IOUs that are repaid within 1-10 years
Treasury Bonds (a type of government security) long-term IOUs that are repaid after 10 years or more
grace period period of time from the billing date of your last credit card bill to the due date of your current bill, when you can pay in full without being charged
gross income all taxable income received, including wages, tips, salaries, interest, dividends, unemployment compensation, alimony, etc
gross pay the total salary before any deductions are made
Individual Retirement Account (IRA) a retirement plan that allows workers to set aside money each year in tax-deferred savings
inflation an increase in the general level of prices you pay for goods and services
installment loan a loan to be repaid in fixed payments that include priciple and interest
interest money paid for the use of money; earnings on a savings account
investment outlay of money in the hopeof realizing a profit
investment banker a business that gives corporations advice on how to raise money and also sells new issues of stocks or bonds
investment company a firm that, for a management fee, invests pooled funds of small investors in different types of securities
investment portfolio a group or collection of investments, including cash, CDs, stocks, etc
joint account an account held by two people
joint endorsement the signatures, on the back of a check, of both persons named as payees on the front of the check
junk bonds corporate bonds with a low or no investment rating
liabilities amounts of money that are owned to others
line of credit a pre-established amount that can be borrowed on demand
Created by: SusieQ60



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