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Celebrate Financial Literacy Month

Glossary of Terms

A hedge fund is a little like a mutual fund in that it is comprised of a group of investors who invest money in the assets managed by...
In insurance, a loss is when something you own is damaged, destroyed, or lost. If your car is stolen, that's a loss. If your house is damaged by fire, that's also a loss. Not all losses will be covered by your insurance, but if you...
This is an employee who gets paid a monthly or annual salary and is expected to perform his job regardless of how many hours are worked. Therefore, the employee is "exempt" from earning overtime pay - in other words the employee...
This is a form that you complete and give to your employer when you start work; it describes your tax status (i.e., single, married) and tells your employer what exemptions you believe you are entitled to claim. This helps your employer...
A fiduciary relationship in which one person or entity (the trustee) is the holder of the legal title to property (the trust property/...
If you travel overseas and don't want to carry large amounts of the local cash with you, traveler's checks are a safe way to make sure you have easy access to money. You buy them in America, usually from a bank, and in exchange for, say...