Personal Finance

Question 1

Cash flow

Answer 1

The money coming in and out of a business

Question 2

Commission

Answer 2

The percentage of a sales price received by a salesperson for his or hers service

Question 3

Credit bureau

Answer 3

An organisation that keeps on file the credit records of consumers

Question 4

Creditor

Answer 4

A person who is owed money

Question 5

Debtor

Answer 5

A pesos who owes money

Question 6

Default notice

Answer 6

A document from a lender of money stating that a person has failed to carry out the terms of the contact

Question 7

Dividend

Answer 7

Section of profit paid to shareholders

Question 8

Equities

Answer 8

Stocks and shares held by an individual

Question 9

Fee

Answer 9

Money paid to others for their service

Question 10

Fixed expenses

Answer 10

Expense that are the same amount every time

Question 11

Garnisheed

Answer 11

When a certain amount of money can be taken out of a borrowers wage

Question 12

Guarantor

Answer 12

Someone who guarantees to pay back the money if borrower does not e.g RBA

Question 13

Income

Answer 13

Money receive on a regular basis

Question 14

Interest

Answer 14

A payment made for the use of borrowed money

Question 15

Investment

Answer 15

Putting money into something in order to make a profit

Question 16

Mortgage

Answer 16

A loan for goods or a property

Question 17

Net income

Answer 17

The amount a person has left after income tax has been deducted

Question 18

Portfolio

Answer 18

A range of financial investments

Question 19

Premium

Answer 19

The amount of money to be paid to receive insurance cover

Question 20

Profit

Answer 20

What remains after all business expenses are deducted from sales revenue

Question 21

Repossess

Answer 21

To take back goods on credit if repayments have not been paid

Question 22

Royalty

Answer 22

Money paid to authors ect. in a percentage of proceeds from their work

Question 23

Salary

Answer 23

A fixed amount of money paid on a regular basis

Question 24

Secured loan

Answer 24

Something deposited as a guarantee to fulfil a loan

Question 25

Unsecured loan

Answer 25

Nothing is deposited as a guarantee to fulfill the payment of the loan

Question 26

Variable expenses

Answer 26

Expenses that change overtime

Question 27

Wage

Answer 27

Money received by workers usually on a weekly basis

Question 28

Bankrupt

Answer 28

When a person is judged by a court to be unable to pay depts