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

Check comments for the answer.