Personal Finance — page 16 of 19

Personal Finance terms

1501. Securitization Securitization is the process of pooling various types of debt - mortgages, car loans, or credit card debt, for example - and packaging that debt as…
1502. Security The term "security" covers a broad variety of financial instruments, including stock, promissory notes, bonds, debentures, limited partnership interests…
1503. Security Interest The creditor’s right to take property or a portion of property offered as security.
1504. Self Registration FDM allows users to register themselves to use the FDM reporting system using their CAC.
1505. Self-amortizing loan A self-amortizing loan is one that's paid off over a specific period of time as the borrower makes regular installment payments.
1506. Self-Amortizing Loans Loans in which periodic payments of principal and interest are scheduled over the life of the loan.
1507. Self-directed retirement plan If you participate in a salary reduction retirement plan, such as a 401(k) or a 403(b), you usually must select the investments into which your…
1508. self-employment loss Self-employment income minus self-employment expenses, when self-employment income is less than self-employment expenses.
1509. self-employment profit Self-employment income minus self-employment expenses, when self-employment income is greater than self-employment expenses.
1510. self-employment tax Similar to Social Security and Medicare taxes. The self-employment tax rate is 15.3 percent of self-employment profit.
1511. Self-regulatory organization (SRO) All securities and commodities exchanges in the United States are self-regulatory organizations (SROs), as is NASD.
1512. Sell short Selling short is a trading strategy that's designed to take advantage of an anticipated drop in a stock's market price.
1513. Sell side Brokerage firms and other financial services companies that buy and sell investments as agents for retail investors as well as for their own accounts are…
1514. Sell-off A sell-off is a period of intense selling of securities and commodities triggered by declining prices.
1515. Senior bond Senior bonds offer slightly lower interest rates than subordinated or junior bonds because they are considered less risky.
1516. Senior Legal Counsel (SLC) A term referring to senior ethics officials in a command, organization, or agency.
1517. Senior Preferred Stock Purchase Agreement (PSPA) (PSPA) Entered into at the time the conservatorships were created, the PSPAs authorize the Enterprises to request and obtain funds from Treasury, which in turn…
1518. Separate account An insurance company's separate account is established to hold the premiums you use to purchase funds included in variable annuity contracts the company…
1519. Separate account fund Each variable annuity contract offers a number of separate account funds. Each of those funds owns a collection of individual investments chosen by a…
1520. Series 6 The Series 6 is a licensing examination that you must pass to be entitled to sell mutual funds and variable annuities to investors.
1521. Series 63 The Series 63 is a licensing examination that most states require for anyone who wants to sell securities within the state.
1522. Series 7 To be licensed to sell securities to individual investors, brokers must pass the Series 7 exam, also called the General Securities Registered…
1523. Service Charge A charge assessed by a depository institution for processing transactions and maintaining accounts.
1524. Service Credit A member’s earned service, prior service, and/or purchased service.
1525. Service Fee Per Month The monthly fee that is charged to the account holder under the terms of the account. Also called a maintenance fee.
1526. Servicemen’s Readjustment Act Enacted in 1944 and also known as the GI Bill, this Act offered veterans of the Second World War educational and financial benefits, including long-term…
1527. Servicer A business, often a bank or mortgage company, that accepts and records mortgage payments from borrowers, negotiates workout plans and supervises the…
1528. Servicing transfer when one servicer is replaced by another.
1529. Set-up fee A fee that may be charged when you open a new credit card account.
1530. Settlement (or Closing) Costs Fees paid at a loan closing. May include application fees; title examination, abstract of title, title insurance, and property survey fees; fees for…
1531. Settlement agent In some states, a settlement agent, or closing agent, handles the real estate transaction when you buy or sell a home.
1532. Settlement date The date on which a securities buyer must pay for a purchase or a seller must deliver the securities sold.
1533. SF 278 Filer Person required to file the SF-278 disclosure report under the authority of the Ethics in Government Act of 1978, as amended (and for DoD employees, the…
1534. SF 278 of Record The official version of the filer's SF 278 report that is complete and subject to release upon proper request.
1535. share Share means the basic unit of capital of a Connecticut credit union. Members may receive dividends based on the number of shares held.
1536. Share Account Credit unions call savings accounts share accounts because at a credit union you are a part owner of the credit union.
1537. Share Certificate A form of savings instrument where the member agrees to maintain the deposit in the credit union for a specific period of time in exchange for interest…
1538. Share class Some stocks and certain mutual funds subdivide their shares into classes or groups to designate their special characteristics.
1539. Share Draft Account Credit unions call checking accounts share draft accounts. Share draft accounts are a transaction accounts.
1540. Shareholder If you own stock in a corporation, you are a shareholder of that corporation. You're considered a majority shareholder if you alone or in combination with…
1541. Sharpe ratio Using the Sharpe ratio is one way to compare the relationship of risk and reward in following different investment strategies, such as emphasizing growth…
1542. Short interest Short interest is the total number of shares of a particular stock that investors have sold short in anticipation of a decline in the share price and have…
1543. Short position If you sell stock short and have not yet repurchased shares to replace the ones you borrowed, you are said to have a short position in that stock.
1544. Short Sale when the servicer allows the homeowner to list and sell the mortgaged property with the understanding that the net proceeds from the sale may be less than…
1545. Signature Card A card signed by each depositor and customer of a bank which may be used as a means of identification.
1546. Signature Date The date that a filer or reviewer digitally or electronically signed (eSigned) the financial disclosure report.
1547. SIMPLE A SIMPLE, also known as a SIMPLE IRA, is short for Savings Incentive Match Plans for Employees, an employer sponsored retirement savings plan that may be…
1548. Simple interest If you earn simple interest on money you deposit in a bank or use to purchase a certificate of deposit (CD), the interest is figured on the amount of your…
1549. Simplified employee pension plan (SEP) An SEP is a qualified retirement plan set up as an individual retirement annuity (IRA) in an employee's name.
1550. sin tax A tax on goods such as tobacco and alcohol.
1551. single filing status If on the last day of the year, you are unmarried or legally separated from your spouse under a divorce or separate maintenance decree and you do not…
1552. Single-Sum Distribution Non-periodic distribution from a qualified retirement plan received before an annuity start date. TERI payouts are considered single-sum distributions.
1553. Sinking fund To ensure there's money on hand to redeem a bond or preferred stock issue, a corporation may establish a separate custodial account, called a sinking…
1554. Slow market A slow market is one with sluggish trading and static prices. In this environment, it may be difficult to find buyers willing to pay the price at which…
1555. Small order execution system (SOES) The small order execution system automatically routes, executes, reports, and compares market and limit orders between 100 and 1,000 shares in Nasdaq…
1556. Small-capitalization stock Shares of relatively small publicly traded corporations with a total market capitalization of less than $2.
1557. Smishing A combination of “SMS” and phishing. Smishing uses cell phone text messages or SMS (Short Message Service) to deliver a message in order to get you to…
1558. Social Security Social Security is a federal government program designed to provide income for qualifying retired people, their dependents, and disabled people who meet…
1559. Social Security Tax Provides benefits for retired workers and their dependents as well as for the disabled and their dependents.
1560. Socially responsible fund When socially responsible mutual funds, also known as green funds or conscience funds, select securities to meet their investment goals, the securities…
1561. Soft dollars Soft dollars are amounts that money managers, including mutual fund managers, pay out of their clients' accounts to a brokerage firm to cover the cost of…
1562. Soft market A soft market, also known as a buyer's market, is one in which there is inactive trading in an individual stock or the market as a whole at current prices.
1563. Software Developer Develops software for the purposes of (1) formatting electronic tax return information according to IRS specifications, and/or (2) transmitting electronic…
1564. Sole proprietor A sole proprietor is the owner and operator of a business that isn't registered as either a corporation or a limited liability company.
1565. South Carolina Retirement System (SCRS) This is the name of the retirement system covering state employees, public school employees, public higher education personnel, and employees of other…
1566. South Carolina Retirement Systems This is the name commonly used to refer to the Retirement Division of the State Budget and Control Board .
1567. Special Flood Hazard Area (SFHA) (SFHA) An area defined on a Flood Insurance Rate Map with an associated risk of flooding.
1568. Special Government Employee (SGE) SGEs are defined at 18 U.S.C. 202(a): Generally, employees performing temporary duty for 130 days or less in any 365 day period, including Reserve and…
1569. Special situation An undervalued stock that one or more analysts expects to increase in price in the very near future because of an anticipated - and welcome - change…
1570. Specialist A specialist or specialist unit is a member of a securities exchange responsible for maintaining a fair and orderly market in a specific security or…
1571. Specialist's display book A display book was traditionally a written chronological record of all limit, stop, and short sale orders that had been placed with a specialist for an…
1572. Speculator When you make a financial commitment because you believe something will happen in the market where you're trading that will provide a profit, you are…
1573. Spending plan A spending plan can help you manage your money more effectively, live within your income limits, reduce your reliance on consumer credit, and save for the…
1574. Spin-off In a spin-off, a company sets up one of its existing subsidiaries or divisions as a separate company.
1575. Split-funded annuity A split-funded annuity lets you begin receiving income from a portion of your principal immediately, while the rest of the money goes into a deferred…
1576. Spoofing Some market analysts maintain that the increased volatility in stock markets may be the result of an illegal practice known as spoofing, or phantom bids.
1577. Spot market Commodities and foreign currencies are traded for immediate delivery and payment on the spot market, also known as a cash market.
1578. Spot price The spot, or cash, price is the price of commodities and foreign currencies that are being sold for immediate delivery with payment in cash.
1579. Spread In the most general sense, a spread is the difference between two similar measures.
1580. Stale-Dated Check Presented to the paying bank 180 days (6 months) or more after the original issue date.
1581. Standard & Poor's (S&P) Standard & Poor's (S&P) is an investment services company that rates bonds, stock, commercial paper, and insurance companies.
1582. Standard & Poor's 500 Index (S&P 500) The benchmark Standard & Poor's 500 Index, widely referred to as the S&P 500, tracks the performance of 500 widely held large-cap US stocks in the…
1583. Standard & Poor's Depositary Receipt (SPDR) When you buy SPDRs - pronounced spiders - you're buying shares in a unit investment trust (UIT) that owns a portfolio of stocks included in Standard &…
1584. Standard & Poor's/BARRA Growth and Value Indexes Some investors favor growth stocks while others favor value stocks. Since 1992, results of those investment styles, which tend to produce different…
1585. standard deduction Reduces the income subject to tax and varies depending on filing status, age, blindness, and dependency.
1586. Standard deviation Standard deviation is a statistical measurement of how far a variable quantity, such as the price of a stock, moves above or below its average value.
1587. Standard payment instructions You must pay your credit card bill in a manner that meets all the following conditions: You must pay in U.S.
1588. Startup While any new company could be considered a start-up, the description is usually applied to aggressive young companies that are actively courting private…
1589. State Banking Department (also State Supervisory Authority) The organization in each State that supervises the operations and affairs of State financial institutions.
1590. State Chartered Credit Union A credit union organized under the laws of a State and chartered by that State to conduct the business of banking.
1591. State Code A two-digit FIPS (Federal Information Processing Standards) code that identifies the state where the property is located.
1592. State guaranty funds State guaranty funds, which are offered in every state, protect contract owners against the insolvency of an insurance company that has issued insurance…
1593. State Optional Retirement Program A defined contribution retirement plan offered as an alternative to SCRS . The State Optional Retirement Program ( State ORP ) is available to all state…
1594. Statement A summary of all transactions that occurred over the preceding month and could be associated with a deposit account or a credit card account.
1595. Statutory voting When shareholders vote for candidates nominated to serve on a company's board of directors, they usually cast their ballots using statutory voting.
1596. Step-up in basis When you inherit assets, such as securities or property, they are stepped-up in basis.
1597. Stochastic modeling Stochastic modeling is a statistical process that uses probability and random variables to predict a range of probable investment performances.
1598. stock A share of stock that represents ownership in the company that issues it. The price of the stock goes up and down, depending on how the company performs…
1599. Stock certificate A stock certificate is a paper document that represents ownership in a corporation.
1600. Stock market A stock market may be a physical place, sometimes known as a stock exchange, where brokers gather to buy and sell stocks and other securities.