Chargeback

A chargeback is the return of funds to a consumer, usually in a disputed credit-card transaction.

Cashier's check

A cashier's check is a check that is issued by a financial institution. The payment is guaranteed because it is drawn on the bank's account rather than the customer's.

Credit check

A credit check is when a loan provider views your credit history to see if you are suitable for the loan.

Collection agency

A collection agency pursues payments on debts that individuals or businesses have defaulted on.

Collateral

Collateral is a when a borrower pledges property to a lender, in order to secure repayment of a loan.

Money and finance terms - trivia 8

1) What is an exchange rate?

a) the worth of one currency compared to another country's currency
b) the future value of a currency

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Fixed rate loan

A fixed rate loan is where the interest rate stays the same for the life of the loan.

Prime loan

A prime loan is offered to people with a good credit history.

Money and finance terms - trivia 7

1) What is a prime rate?

a) the standard rate charged to all customers
b) the most favorable interest rate that banks charge to lend money to their best customers

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Venture capital

Venture capital is capital that is provided to new companies. They have high profit potential along with high risk.

Private equity

Private equity is capital that is available to private companies. Companies that are not on a stock exchange.

Currency market

The currency market is where all of the currency trading takes place.

Exchange rate

The exchange rate is the worth of one currency compared to another country's currency.

Consolidation loan

A consolidation loan is used to combine several loans into one loan, often with a lower monthly payment.

Personal loan

A personal loan is a loan given without collateral. It is used for personal or household purposes.

Money and finance terms - trivia 6

1) What is hard currency?

a) currency that is stable and sound enough to be accepted internationally
b) currency that is not stable or sound enough to be accepted internationally

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Money and finance terms - trivia 5

1) What is capital?

a) the amount of goods or services that someone owes to another
b) the assets available for use to produce more assets

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Credit limit

The credit limit is the maximum amount a borrower can borrow under a credit card.

Cosign

Cosign means to sign for another persons loan along with the borrower. The cosigner must repay the debt if the borrower does not pay.

Capital

Capital is the assets available for use to produce more assets.

Prime rate

The prime rate is the most favorable interest rate that banks charge to lend money to their best customers.

Mortgage lenders

Mortgage lenders are financial institutions that lend money to people so they can buy property.