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.

Loan consolidation

Loan consolidation means to combine multiple loans into one new loan with a new repayment term. The interest rate and monthly payments would be different.

Money and finance terms - trivia 4

1) What is a subprime loan?

a) a loan where only the highest credit rating customers qualify
b) a loan granted to customers who would not ordinarily qualify for credit

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Money and finance terms - trivia 3

1) What is an unsecured loan?

a) a loan where you don't have to offer any collateral to secure the loan
b) collateral is required to secure the loan

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Cash advance

A cash advance is a cash loan from a credit card account. Interest is usually charged at a higher rate than credit card purchases.

Mortgage rate

The mortgage rate is the rate of interest that is paid on a mortgage loan.

Interest rate

The interest rate is the rate that is charged for borrowing money.

Coins

Coins are usually made of flat metal. They are small and round and issued by the government as money.

ATM

An ATM is an automated teller machine. It is a cash machine outside some banks. They dispense money when a personal coded card is used.

Bank deposit

A bank deposit is money that is deposited in a bank or similar institution.

Bank account

A bank account is an account with a banking institution that records the financial transactions between the customer and the bank.

Bankruptcy

Bankruptcy is a legal proceeding, which offers protection from a creditor if someone is unable to pay their debts.