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Related Flashcards
Related Topics
Cards In This Set
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Underwriting
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Evaluating a loan application to determine the amount of risk involved.
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Collateral
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Property or goods used as security on a loan
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Secured debt
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A debt whose payment is guaranteed by providing something of value
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Asset
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Property to which a value can be assigned.
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Default
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Failure to meet an obligation
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Equity
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Value of a peice of property over and above any mortgages or liabilities related to it.
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Reward program
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Program in which incentives are given for the use of the company's services
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Debit card
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Card that transfers money from financial account
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Check card
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Card that works like a check
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Signature transaction
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Transaction in which a person's signature is used to identify them and authorize payment.
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ATM card
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Card that allows person to carry out banking procedures
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Cash transaction
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Transaction where one pays in cash and services are immediately delivered.
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Incentives
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Things that encourage or motivate someone to do something
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Short term financial goal
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Goal that will be accomplished in less than a year
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Long term financial goal
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Goal that takes 1 or more years
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