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Personal Finance 5
vocabulary review
| Term | Definition |
|---|---|
| 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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