transaction taxesTaxes on economic transactions, such as the sale of goods and services. These can be based on a set of percentages of the sales value (ad valorem-sales…
transferIn a transfer, a 401(k) or IRA custodian or trustee moves the assets in your existing account directly to the custodian or trustee of your new account.
Transfer AgentA trust company appointed by a company to keep a record of the names, addresses and numbers of shares held by its shareholders.
Transferable-on-deathA securities or brokerage account titled transferable-on-death (TOD) lets you name one or more beneficiaries, to whom the account assets are transferred…
transmitTo send a tax return to the IRS electronically. Tax returns prepared on paper can be sent through the mail.
Transmittal Sheet (TS)(TS)The transmittal sheet is submitted with a reporter's data. The transmittal sheet includes the following information: reporter's HMDA ID number, regulatory…
TransmitterSends the electronic return data directly to the IRS.
TransparencyTransparency is a measure of how much information you have about the markets where you invest, the corporations whose stocks or bonds you buy, or the…
TreasuriesDebt obligations, such as U.S. Treasury bills, notes and bonds, issued by the Federal Government and secured by the full faith and credit (power to tax…
Treasury Bill (T-Bill)(T-Bill)Short-term, highly liquid government securities issued at a discount from the face value and returning the face amount at maturity.
Treasury bill rateThe rate paid by the government on its short-term borrowing. See index.
Treasury bondTreasury bonds are long-term government debt securities with a maturity date of 30 years that are issued in denominations of $1,000.
Treasury DirectTreasury Direct is a direct investment system, offered through the US Department of the Treasury, lets you make competitive or noncompetitive bids for new…
Treasury inflation-protected securities (TIPS)TIPS, or Treasury inflation-protected securities, are inflation-indexed Treasury bonds and notes. They protect you against deflation as well.
Treasury noteLike US Treasury bills, Treasury notes are debt securities issued by the US government and backed by its full faith and credit.
Treasury stockTreasury stock is stock that an issuing company repurchases from its shareholders.
Trial Period or Trial Period PlanHAMP requires homeowners to enter into a trial period plan before receiving a permanent HAMP modification.
TrustA fiduciary relationship in which a person, called a trustee, holds title to property for the benefit of another person, called a beneficiary.
Trust deedA deed executed in conformity with title 45, chapter 15, Idaho Code, and conveying real property to a trustee in trust to secure the performance of an…
TrusteeA trustee is a person or institution appointed to manage assets for someone else's benefit.
Truth In Lending ActThe Truth-in-Lending Act requires every lender to provide a complete and clear disclosure of the key terms of any lending or leasing arrangement, plus a…
Truth in Lending Act (TILA)(TILA)The Truth in Lending Act is a Federal law that requires lenders to provide standardized information so that borrowers can compare loan terms.
Turnover ratioA mutual fund's turnover ratio measures the percentage of holdings that the fund sells, or turns over, in a year.
Type of PurchaserIf you sell a loan in the same calendar year in which it was originated or purchased, you must identify the type of purchaser to whom it was sold.
U.S. Department of Justice (DOJ)(DOJ)DOJ is the United States federal executive department responsible for the enforcement of the law and administration of justice.
Uncollected FundsA portion of a deposit balance that has not yet been collected by the depository bank.
Uncovered optionAn uncovered option, also known as a naked option, is an option that is not backed by another position.
Under ReviewThe review status of a financial disclosure report after the filer has eSigned and submitted their report for review.
underground economyMoney-making activities that people don't report to the government, including both illegal and legal activities.
Underlying AssetsAssets that are held in another investment vehicle in which a filer has a financial interest.
Underlying instrumentAn underlying instrument is a security, such as a stock, a commodity, or other type of financial product, such as a stock index, whose value determines…
Underlying investmentThe investments a variable annuity's separate account fund, a mutual fund, or other fund makes are considered the fund's underlying investments.
UndervaluationAny stock that trades at a lower price than the issuing company's reputation, earnings outlook, or financial situation would seem to merit is considered…
UnderwaterYou're underwater when your employee stock options are out-of-the-money and so currently worthless.
UnderweightedWhen you own less of a security, an asset class, or a subclass than your target asset allocation calls for, you are said to be underweighted in that…
UnderwriterAn individual in an insurance company who determines what insurance risks will be accepted and on what terms.
UnderwritingThe purchase for resale of a new issue of securities by an investment dealer or group of dealers.
Uniform Commercial Code (UCC)(UCC)A set of statutes enacted by the various States to provide consistency among the States' commercial laws.
Uniform Gifts to Minors Act (UGMA)Under the UGMA, you as an adult can set up a custodial account for a minor and put assets such as cash, securities, and mutual funds into it.
Uniform Transfers to Minors Act (UTMA)The UTMA allows you as an adult to set up a custodial account for a minor, who owns any assets placed in the account, although he or she can't legally…
Unit investment trust (UIT)A UIT may be a fixed portfolio of bonds with specific maturity dates, a portfolio of income-producing stocks, or a portfolio of all of the securities…
Unit of tradingWhen you buy stocks, bonds, options and commodities futures, it's typical to buy in a particular volume or a particular dollar value, called a round lot…
Unit trustThe category of investment known as a mutual fund in the US is called a unit trust in other parts of the world.
unit trustsA collection of securities, usually bonds, packaged by brokers and sold to investors.
Universal Life InsuranceA flexible premium life insurance policy under which the policyholder may change the death benefit from time to time (with satisfactory evidence of…
UniverseIn the world of investments, the word universe refers to a specific group or category of investments that share certain characteristics.
Unlisted securityA security, such as a stock, is unlisted when it does not meet the listing requirements or pay the listing fee of any of the organized exchanges or…
Unpaid Principal Balance (UPB)(UPB)amount of a loan that is due to the lender. This does not include additional charges, such as interest.
Unrealized gainIf you own an investment that has increased in value, your gain is unrealized until you sell and take your profit.
Unrealized lossIf the market price of a security you own drops below the amount you paid for it, you have an unrealized loss.
Unsecured bondWhen a bond isn't backed by collateral or security of some kind, such as a mortgage, that can be used to repay the bondholders if the bond issuer…
UptickAn uptick is the smallest possible incremental increase in a security's price, which, for stocks, is one cent.
US savings bondThe US government issues two types of savings bonds: Series EE and Series I. You buy electronic Series EE bonds through a Treasury Direct account for face…
US Treasury bondUS Treasury bonds are long-term government debt securities, typically issued with 30-year terms.
user feesAn excise tax, often in the form of a license or supplemental charge, levied to fund a public service.
user taxA tax that is paid directly by the consumer of a good, product, or service.
UsuryCharging an illegally high interest rate on a loan.
Usury RatesThe maximum rate of interest lenders may charge borrowers. The usury rate is generally set by State law.
Validity EditsThe specified data are reported incorrectly and must be corrected. The most common example is incorrect census tracts.
valuationValuation is the process of estimating the value, or worth, of an asset or investment.
ValueIn determining the monetary equivalent for assets and gifts, value is a good faith estimate of the fair market value if the exact value is neither known…
Value fundWhen a mutual fund manager buys primarily undervalued stocks for the fund's portfolio with the expectation that these stocks will increase in price, that…
Value Line Composite IndexValue Line, an independent investment research service, tracks the performance of approximately 1,700 common stocks in its composite index.
Value Line, Inc.Value Line is an investment research company that provides detailed analysis on a range of stocks, mutual funds, and convertible investments.
Value stockValue stocks, also known as undervalued stocks, trade at a lower price than the company's reputation, earnings outlook, or financial situation would seem…
Variable annuityA variable annuity is an insurance company product designed to allow you to accumulate retirement savings.
Variable Life InsuranceLife insurance under which the benefits relate to the value of assets behind the contract at the time the benefit is paid.
Variable RateAny interest rate or dividend that changes on a periodic basis.
Variable-rate APRAn APR that may change depending on other factors, such as the prime rate or Treasury bill rate.
Venture capital (VC)Venture capital is financing provided by wealthy independent investors, banks, and partnerships to help new businesses get started, reach the next level…
vertical equityThe concept that people in different income groups should pay different rates of taxes or different percentages of their incomes as taxes.
Vested InterestThe concept of a vested interest is extremely important--if an interest is not vested, a filer need not report it and will not have a financial interest…
VestingIf you are part of an employer pension plan or participate in an employer sponsored retirement plan, such as a 401(k), you become fully vested - or…
Viatical settlementTechnically speaking, a viatical settlement occurs when the holder of a life insurance policy sells the policy to a third party before the original owner…
Virtual bankA virtual bank offers some or all of the same types of accounts and services that traditional bricks-and-mortar banks do, but virtual banks exist only…
VolatilityThe term volatility indicates how much and how quickly the value of an investment, market, or market sector changes.
VolumeVolume is the number of shares traded in a company's stock or in an entire market over a specified period, typically a day.
voluntary complianceA system of compliance that relies on individual citizens to report their income freely and voluntarily, calculate their tax liability correctly, and file…
Volunteer Income Tax Assistance (VITA)(VITA)This provides free income tax return preparation for certain taxpayers. The VITA program assists taxpayers who have limited or moderate incomes, have…
Voting rightInvestors who own shares of a common stock or shares in a mutual fund typically have voting rights, which allow them to participate in the election of…
Vulture fundLike the scavenging bird of prey that lends its name to the fund, a vulture fund seeks out depressed or endangered investments.
wagesCompensation received by employees for services performed. Usually, wages are computed by multiplying an hourly pay rate by the number of hours worked.
WaiverUnder the conflict of interest statute, 18 U.S.C. § 208, a waiver permits an employee to participate in specified Government matters which would…
Waiver Of PremiumA provision that sets certain conditions under which an insurance policy would be kept in full force by the company without the payment of premiums.
warrantA certificate giving the holder the right to purchase a security (such as a stock) at a set price within a specified period of time.
Wash saleWhen you purchase and then sell or sell and then repurchase the same security or a substantially similar security within 30 days, the double transaction…
Weather derivativeA weather derivative is a futures contract - or options on that futures contract - where the underlying commodity is a weather index.
Weighted Average Life (WAL)(WAL)average number of years for which each dollar of unpaid principal on a loan or mortgage remains outstanding.
Weighted stock indexIn weighted stock indexes, price changes in some stocks have a much greater impact than price changes in others in computing the direction of the overall…
Whisper numberA whisper number is an unofficial earnings estimate for a particular company that a stock analyst shares with clients to supplement the official published…
White knightA corporation that is the target of a hostile takeover sometimes seeks out a white knight that comes to the rescue by making an offer to acquire the…
Whole life insuranceA whole life insurance policy is a type of permanent insurance that provides a guaranteed death benefit and has fixed premiums.
Widely DiversifiedWidely diversified is a central element of the definition of an Excepted Investment Fund and of a Qualified Trust.
WillA will is a legal document you use to transfer assets you have accumulated during your lifetime to the people and institutions you want to have them after…
Wire houseNational brokerage firms with multiple branches were, in the past, linked by private telephone or other telecommunications networks that enabled them to…
Wire roomWhen brokerage firm orders to buy and sell were handled manually, the back office of the firm was called the wire room.
Wire TransferA transfer of funds from one point to another by wire or network such the Federal Reserve Wire Network (also known as FedWire).
WithdrawalA withdrawal is money you take out of your banking, brokerage firm, or other accounts.