Business terms starting with P

287 terms

P&I Abbreviation for principal and interest.
Paasche See Paasche price index
Paasche price index A fixed-weighted price index that is computed as the sum of current-period quantities valued at current-period prices divided by the sum of current-period…
Paid-up Insurance Insurance on which all required premiums have been paid.
Paid-up policy A paid-up policy is a whole life insurance policy for which no additional premium payments are required to keep in force.
Palladian Window A three-part window opening with a tall, round-arched center window flanked by smaller rectangular windows and separated by posts or pilasters.
panel A portion of a flat surface recessed, or raised from the surrounding area, distinctly set off by molding or some other decorative device.
Panel - HMDA Reporter Panel Listing The reporter panel listing is the universe of all institutions that reported under HMDA. A separate panel exists for each reporting year.
Panning An applied material, usually metal, that covers the front (exterior) surface of an existing window frame or mullion
Paper Short-term, unsecured debt securities that a corporation issues are often referred to as paper - for short-term commercial paper.
Paper profit (or loss) If you own an asset that increases in value, any increase in value is a paper profit, or unrealized gain.
Par (Face) Value The dollar value of a security stated by the issuer and the total amount to be repaid to the investor as principal.
Par Value The stated or face value of a stock or bond. It has little significance for common stocks, however, for bonds it specifies the payment amount at maturity.
Parapet A low wall that serves as a vertical barrier at the edge of a roof, terrace, or other raised area; in an exterior wall, the part entirely above the roof.
Parity Payment Part of the NCUA's guarantee obligation on the NGNs that represents the excess of the unpaid Note Principal Balance (after related payments have been…
Partial Claim A loss mitigation option offered by the FHA that allows a borrower, with help from a lender, to get an interest-free loan from HUD to bring their mortgage…
Partial Payment A payment that is less than the scheduled monthly payment on a mortgage loan.
Participating Community A community for which the Federal Emergency Management Agency (FEMA) has authorized the sale of flood insurance under the National Flood Insurance Program…
Participating Insurance Insurance on which the policyholder is entitled to share in the surplus earnings of the company through policy dividends that reflect the difference…
Participating policy When policyholders have what is called a participating policy from a mutual insurance company, they are eligible to receive dividends based on the…
Participation Lender involvement in a development for a percentage of the gross sales or profit, as well as interest on the loan.
Participation fee See annual fee.
Parting strip The small member, usually wood and usually removable, that separates the upper and lower sash pockets in the jamb of a double-hung window
Partnership An agreement between two or more entities to go into business or invest. See also "general partnership;" "limited partnership;" "joint venture."
PAS Employee A PAS Employee is one who holds a senior non-career position that requires nomination by the President and confirmation by the Senate.
Pass-through security When a corporation or government agency buys loans from lenders to pool and package as securities for resale to investors, the products may be…
Passbook A book in ledger form in which are recorded all deposits, withdrawals, and earnings of a customer's savings account.
Passive income You collect passive income from certain businesses in which you aren't an active participant.
Passive losses You have passive losses from businesses in which you aren't an active participant.
Passively managed An index mutual fund or exchange traded fund is described as passively managed because the securities in its portfolio change only when the make-up of the…
Past Due Item Any note or other time instrument of indebtedness that has not been paid on the due date.
Paver A block of stone used in sidewalk or areaway paving.
Payable-on-death A bank account titled payable-on-death (POD) lets you name one or more beneficiaries to whom the assets are paid when you die.
Payday Loans A small-dollar, short-term loan that a borrower promises to repay out of their next paycheck or deposit of funds.
Payee The person or organization to whom a check, draft, or note is made payable.
Paying (Payor) Bank A bank upon which a check is drawn and that pays a check or other draft.
Payment Cap A limit on the amount that your monthly mortgage payment on a loan may change, usually a percentage of the loan.
Payment Change Date The date on which a new monthly payment amount takes effect, for example, on an adjustable-rate mortgage (ARM) loan.
Payment Due Date The date on which a loan or installment payment is due. It is set by a financial institution.
Payment Plan A method of payment through which a member receives his retirement annuity and, depending on the plan chosen, may provide a survivor benefit to his…
Payoff The complete repayment of a loan, including principal, interest, and any other amounts due.
Payoff Statement A formal statement prepared when a loan payoff is contemplated. It shows the current status of the loan account, all sums due, and the daily rate of…
Payor The person or organization who pays.
Payout ratio A payout ratio, expressed as a percentage, is the rate at which a company distributes earnings to its shareholders in the form of dividends.
payroll taxes Include Social Security and Medicare taxes.
PCE See Personal consumption expenditures (PCE)
Pediment 1. The triangular space forming the gable end of a roof above the horizontal cornice. 2. An ornamental gable, usually triangular, above a door or window.
Peer Average Ratio How a credit union compares to a group of federally insured credit unions of similar asset size.
Penalty APR The APR charged on new transactions if you trigger the penalty terms in your credit card contract.
Penalty fees Fees charged if you violate the terms of your cardholder agreement or other requirements related to your account.
Penny stock Stocks that trade for less than $1 a share are often described as penny stocks.
Pension A pension is an employer plan that's designed to provide retirement income to employees who have vested - or worked enough years to qualify for the income.
Pension Benefit Guaranty Corporation (PBGC) The PBGC was created to ensure that participants in defined benefit pension plans under its jurisdiction will receive at least a basic pension if the…
Pension maximization Pension maximization is a strategy that begins with selecting a single life annuity for income to be paid from your retirement plan, rather than a joint…
Pension Plan A defined benefit retirement annuity plan under one of the following: the South Carolina Retirement System; the Police Officers Retirement System; the…
Per capita Per capita is the legal term for one of the ways that assets being transferred by your will can be distributed to the beneficiaries of your estate.
Per Check Fee (If Minimum Balance is Not Maintained) The fee charged to an account holder for each check written when the balance in the account does not meet the minimum required balance.
Per Check Fee (If Minimum Balance Maintained) The fee charged to an account holder for each check written when the balance in the account meets the minimum required balance.
Per diem Per diem is generally understood to include the consideration for the additional expenses that a worker has living away from home.
Per stirpes Per stirpes is the legal term for transferring the assets of your estate to your children and their descendants.
Percentile Rankings How a credit union ranks in relation to the federally insured credit unions in its peer group in key area of financial performance.
Peril A specific risk or cause of loss covered by an insurance policy, such as a fire, windstorm, flood, or theft.
Perils For homeowner's insurance, an event that can damage the property. Homeowner's insurance may cover the property for a wide variety of perils caused by…
Period of intended employment Period of intended employment means the time period between the starting and ending dates inclusive of the H-1B nonimmigrant's intended period of…
Periodic interest rate The periodic interest rate, sometimes called the nominal rate, is the interest rate a lender charges on the amount you borrow.
Periodic Rate The interest rate described in relation to a specific amount of time. The monthly periodic rate, for example, is the cost of credit per month; the daily…
Periodic Statement The billing summary produced and mailed at specified intervals, usually monthly.
Peripatetic Peripatetic means constantly traveling from place to place with no regular place of business or residence.
Permanent insurance Permanent insurance is a life insurance policy that provides a death benefit as long as you live, or in some cases until you turn 100, provided you…
Permanent mortgage A mortgage for a long period of time (over 10 years) in contrast to an interim loan or a construction loan.
Permit Any permit other than a Notice to Proceed issued by the Landmarks Preservation Commission in accordance with the Landmarks Law: (a) "PMW shall mean Permit…
Person See Persons
Personal consumption expenditures See Personal consumption expenditures (PCE)
Personal consumption expenditures (PCE) The goods and services purchased by persons.
Personal current taxes Includes taxes paid by persons on income, including realized net capital gains, and on personal property.
Personal current transfer payments Payments consisting of transfer payments by persons to government and to the rest of the world.
Personal current transfer receipts Consists of income payments to persons for which no current services are performed and net insurance settlements.
Personal dividend income The dividend income received by persons.
personal exemption Can be claimed for the taxpayer and spouse. Each personal exemption reduces the income subject to tax by the exemption amount.
Personal Hospitality of any Individual Hospitality extended for a non-business purpose by an individual, not a corporation or organization, at the personal residence of or on property or…
Personal Identification Number (PIN) Generally a four-character number or word, the PIN is the secret code given to credit or debit cardholders enabling them to access their accounts.
Personal income Income received by persons from all sources. It includes income received from participation in production as well as from government and business transfer…
Personal income receipts on assets Personal interest income plus personal dividend income.
Personal Injury Protection (PIP) This is a mandatory no fault coverage for automobile insurance providing benefits including, but not limited to, medical expenses, loss of income…
Personal interest income Interest income received by persons from all sources; includes both monetary and imputed interest.
Personal interest payments Non-mortage interest paid by persons.
Personal Investment Corporation (PIC) A PIC is a term used in the banking industry to refer to an IBC. PICs are generally created for the private bank's client in order to hold the client's…
Personal outlays The sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments.
Personal property All tangible property (other than land) that is either temporary or movable in some way, such as furniture, jewelry, electronics, etc.
Personal Residence Any real property used exclusively as a private dwelling by the reporting individual or his spouse, which is not rented out during any portion of the…
Personal saving Personal income less the sum of personal outlays and personal current taxes.
Personal Savings Account Any form of deposit in a bank, savings and loan association, credit union or similar financial institution (5 C.F.R. §2634.301(c)(2)).
Persons In the national income and product accounts (NIPAs), persons consist of individuals, nonprofit institutions that primarily serve individuals, private…
Pest Inspection Required for FHA loans in some areas to determine if there is an infestation of wood-boring insects or other pests in the home.
Petition Petition refers to the Form I-129 that is filed with USCIS by a prospective H-1B employer seeking approval to employ an H-1B worker and its accompanying…
Petition package Petition package refers to the petition Form I-129, accompanying letter in support of the petition, LCA, and any other documentation about the prospective…
Phantom gains Phantom gains are capital gains on which you owe tax even if your actual return on the investment is negative.
Phishing When internet fraudsters impersonate a business in an attempt to trick you into giving out your personal information, such as usernames, passwords, and…
Pier 1. A column designed to support concentrated load. 2. A member, usually in the form of a thickened section, which forms an integral part of a wall…
Piggyback A broker who piggybacks acts illegally by buying or selling a security for his or her own account after - and presumably because - a client has authorized…