community reinvestment act (cra)Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in…
Commuting areaCommuting area also called area of intended employment. There is no rigid measure of distance which constitutes a normal commuting distance or normal…
Company profileA summary of information about an insurance company, including its license status, financial data, complaint history, and a history of regulatory action.
ComparablesAn abbreviation for "comparable properties," which are used as a comparison in determining the current value of a property that is being appraised.
Comparative faultA method of attributing fault to each party who contributed to causing an accident.
Comparative Market Analysis (COMPS)A property evaluation that determines property value by comparing similar properties sold within the last year.
Comparative Negligence LawAn Illinois law that sets forth how negligence for an accident is determined. Under these rules, you can collect from an at-fault driver only if you are…
Compensating FactorsFactors that show the ability to repay a loan based on less traditional criteria, such as employment, rent, and utility payment history.
Competitive traderCompetitive traders, also known as registered competitive traders or floor traders, buy and sell stocks for their own accounts on the floor of an exchange.
ComplaintA written communication primarily expressing a grievance against an insurance company or agent.
Complaint historyInformation collected or maintained by the Texas Department of Insurance relating to the number of complaints received against a particular insurer, agent…
CompleteThe review status of a financial disclosure report whose required reviews are finished and has all the required eSignatures.
Composite tradingComposite trading figures report end-of-day price changes, closing prices, and the daily trading volume for stocks, warrants, and options listed on a…
Compound InterestCompound interest is the interest paid on a deposit or share account, which is added to the account balance at the end of the dividend period.
CompoundingThe process by which income is earned on income that has previously been earned.
Comprehensive CoverageCoverage that pays for damage to or the loss of your vehicle from causes other than collision (example: hail, vandalism, flood, fire and theft, etc.
Comprehensive physical damage coverageOptional insurance that pays for damage to your auto caused by things other than collision or rolling the car over such as fire, theft, vandalism, flood…
Comptroller of the CurrencyThe Office of the Comptroller of the Currency, housed in the US Department of the Treasury, charters, regulates, and oversees national banks.
compulsory payroll taxAn automatic tax collected from employers and employees to finance specific programs.
ConcessionSomething given up or agreed to in negotiating the sale of the house. For example, the sellers may agree to help pay for closing costs.
ConditionsPart of an insurance policy that states your obligations and those of your insurance company.
CondominiumThat form of ownership of real property in which each unit owner has an undivided interest in common elements.
Conduit IRAA conduit IRA is another name for a rollover IRA, which you establish with money you roll over from a 401(k), 403(b), or other retirement savings plan.
ConfigurationThe number, shape, organization and relationship of panes (lights) of glass, sash, frame, muntins or tracery.
confirmationThis written notice provided by a brokerage acknowledges completion of a securities transaction.
Conforming LoanA loan which meets all requirements to be eligible for purchase or securitization by FNMA or FHLMC (Fannie Mae or Freddie Mac) which has a loan amount…
Conforming LoansMortgage loans that satisfy agency (i.e. Fannie Mae, Freddie Mac, and Ginnie Mae) underwriting criteria, in terms of maximum loan balance, loan-to-value…
ConglomerateA conglomerate is a corporation whose multiple business units operate in different, often unrelated, areas.
Conscience fundConscience funds, also known as socially responsible funds, allow you to invest in companies whose business practices are in keeping with your personal…
Consensus recommendationA consensus recommendation for an individual stock compiles ratings from a number of analysts who track that stock.
ConservatorshipConservatorship is a legal procedure for the management of financial institutions for an interim period during which the institution’s conservator…
ConsiderationAn item of value given in exchange for a promise or act.
ConsoleA scroll-shaped projecting bracket that supports a horizontal member.
Construction Completion List (CCL)EPA has developed a construction completion list (CCL) to simplify its system of categorizing sites and to better communicate the successful completion of…
Construction LoanA short-term, interim loan that provides disbursements to facilitate the construction of a home. Funds are disbursed at intervals as work progresses.
ConsumerAny natural person obligated or allegedly obligated to pay a debt incurred for personal, family or household use.
consumer collection agencyConsumer collection agency means any person engaged in the business of collecting or receiving for payment for others of any account, bill or other…
Consumer confidence indexThe consumer confidence index is released each month by the Conference Board, an independent business research organization.
Consumer Credit Counseling ServiceA service which specializes in working with consumers who are overextended with debts and need to make arrangements with creditors.
Consumer Credit Protection Act, (CCPA)Consumer Credit Protection Act (CCPA) 15 U.S.C. 1673, and the regulations of the Secretary pursuant to that Act, 29 C.F.R.
consumer price indexA statistic that is a measure of the change in the cost of living for consumers.
Consumer price index (CPI)The consumer price index (CPI) is compiled monthly by the US Bureau of Labor Statistics and is a gauge of inflation that measures changes in the prices of…
Consumer Reporting AgencyAn agency that regularly collects or evaluates individual consumer credit information or other information about consumers and sells consumer reports for…
ConsummationThe point in time when the contractual relationship between borrower and lender begins.
ContangoThe price of a futures contract tends to reflect the cost of storage, insurance, financing, and other expenses incurred by the producer as the commodity…
ContingencyA condition that must be met before a contract is legally binding. For example, home purchasers often include a home inspection contingency; the sales…
Contingency orderA contingency order to buy or sell a security or other investment product is one that has strings attached.
Contingent BeneficiaryA contingent beneficiary receives the proceeds of an insurance policy, term-certain annuity, individual retirement account (IRA), employer-sponsored…
Contingent deferred sales loadA contingent deferred sales load, also called a back-end load, is a sales charge some mutual funds impose when you sell shares in the fund within a…
Continuous net settlementIn continuous net settlement, most securities transactions are finalized, or cleared and settled, within a brokerage firm.
ContractIn most cases, the term "contract" refers to an insurance policy. A policy is considered to be a contract between the insurance company and the…
Contract for deedSame or similar to "contract to purchase." See also "contract to purchase" under "mortgage."
Contract Laboratory Program (CLP)The Environmental Protection Agency (EPA)'s Contract Laboratory Program (CLP) is a national network of EPA personnel, commercial laboratories, and support…
Contract of saleSame or similar to "contract to purchase." See also "contract to purchase" under "mortgage."
Contract to purchaseSame or similar to "mortgage." See "contract to purchase" under "mortgage."
ContrarianAn investor who marches to a different drummer is sometimes described as a contrarian.
Contribution for government social insuranceEmployer contributions for government social insurance as well as payments by employees, the self-employed, and other individuals who participate in…
Conventional Conforming Mortgage LoansConventional mortgage loans are those mortgages that are not insured or guaranteed by the Federal Housing Administration, the U.S.
Conventional Fixed Rate MortgageA fixed-rate mortgage offers you a set interest rate and payments that do not change throughout the life, or "term," of the loan.
Conventional LoanA mortgage loan that is not insured, guaranteed or funded by the Veterans Administration (VA), the Federal Housing Administration (FHA) or Rural Economic…
Conventional MortgageA mortgage loan which is not insured or guaranteed by a government agency such as FHA or VA.
Conversion ClauseA provision in some ARMs allowing it to change to a fixed-rate loan at some point during the term.
Conversion OptionA provision of some adjustable-rate mortgage (ARM) loans that allows the borrower to change the ARM to a fixed-rate mortgage at specified times after loan…
Conversion priceA conversion price is the predetermined price, set at the time of issue, at which you can exchange a convertible bond or other convertible security for…
Convertible ARMis an Adjustable Rate Mortgage loan that can be converted into a fixed-rate mortgage during a certain time period.
Convertible bondConvertible bonds are corporate bonds that give you the alternative of converting their value into common stock of that company or redeeming them for cash…
Convertible hedgeWhen you use a convertible hedge, you buy a convertible bond, which you can exchange under certain circumstances for shares of the company's common stock.
convertible mortgageAn adjustable rate mortgage (ARM) that allows a borrower to switch to a fixed-rate mortgage at a specified point in the loan term.
Convertible termA convertible term life insurance policy can be converted into a permanent life policy at some point in the future without requiring you to pass a health…
Convertible Term InsuranceTerm insurance that offers the policyholder the option of exchanging it for a permanent plan of insurance without evidence of insurability.
Cook the booksWhen a company cooks the books, it is deliberately - and illegally - providing false information about its financial situation to bolster its stock price…
Cooling-off periodIn the financial industry, a cooling-off period applies when a new issue is being brought to market.
CooperativeA building or development of two or more units in which the right to occupy a unit is obtained by the purchase of stock in the corporation which owns the…
Cooperative (Co-op)A co-op is a corporation that owns a particular residential property. The shareholders are the tenants who, instead of owning an individual unit, own…
Cooperative (Co-op) ProjectA project in which a corporation holds title to a residential property and sells shares to individual buyers, who then receive a proprietary lease as…
CopaymentIf you have a managed-care health insurance plan, your copayment is the fixed amount you pay - often $10 to $25 - for each in-network doctor's office…
CopingA protective cap, top, or cover of a wall parapet, commonly sloping to protect masonry from water
CorbelAn architectural member which projects upward and outward from a wall that supports a horizontal member.
Core earningsStandard & Poor's (S&P) developed the core earnings measure to give investors a more uniform way to compare earnings numbers.
Cornering the marketIf someone tries to buy up as much of a particular investment as possible in order to control its price, that investor is trying to corner the market.
CorniceA projecting molding that tops the elements to which it is attached; used especially for a roof or the crowning member of an entablature, located above…
Corporate BondA debt obligation issued by a corporation.
Corporate profits with IVA and CCAdjThis measure-profits from current production-is the income that arises from current production, measured before income taxes, of organizations treated as…
CorporationA legal entity created under the laws of a state to carry on some business or other authorized activity.
CorrectionA correction is a drop - usually a sudden and substantial one of 10% or more - in the price of an individual stock, bond, commodity, index, or the market…
Correlated SystemsSCRS and PORS are correlated systems. If a member has contributions in more than one of these retirement systems, the member’s service credit is…
CorrelationIn investment terms, correlation is the extent to which the values of different types of investments move in tandem with one another in response to…
CorrespondentA correspondent is a financial institution, such as a bank or brokerage firm, that handles transactions on behalf of another financial institution that it…