1. a contract with specific benefits and duties to be performed. 2. a contact where a third party agrees to pay for the first parties obligations if they default. It must be in writing. AKA bond.

A forum for finance ministers and bank governors from the 20 top countires. It is used to discuss issues on the global economy. It was expanded from the G7 to include emerging market countries.

The nations with the most debt in Latin America. They are Argentina, Bolivia, Brazil, Chile, Columbia, Dominican Republic, Ecuador, Mexico, Peru, Uruguay, and Venezuela. It was formed in 1984

A mortgage bond that passes through the Freddie Mac purchasing process. It is resold to investors. Incremental principal is sold and interest is paid semianually. Principal is paid annually.

When a manufacturer or supplier refunds the difference in price while the agent still has the goods bought at a higher price. fIt helps agents order in bulk and not lose due to price drops.

When a larger market share is won at the expense of short term earnings. There are four strategies taht are diversificatin, product development, market penetration, and market developmen.

An arrangement when a hotel keeps a room for a guest that arrives late. If the customer doesn’t show up the card will be charged for the night anyway. Refer to guaranteed reservation.

Work group software that gives structure to collaborate and communicate on activities for that group. Members of a team can get the same data on a network. AKA collaborative tools.

When a partnership pays for the individual members. Each person gets paid for their investments even if no profit is made. It eliminates risk from personal contributions.

A fund that has money in it from an insurers business in the state. It is required by the state. It is used to cover debts and claims. It is called an insolvency fund.

A hotel reservation that is held until checkout the day after the arrival. Payment is made even if the guest doesn’t show up unless cancelation policy allows an out.

A mutual fund that invests in stock. These stocks are in their growth stage and thusly have a higher risk. Income stocks are more stable and risk less principal.

A deed a guardian is given to sell a property. It is given when the court sees the original owner is not capable of making decisions regarding personal affairs.

Any barriers that are set in place to prevent access to property. It is done to prevent damage and protect from danger. It can be a fense, casing, or screen.

Understood acceptable behavior within groups that change from sitution to sitution. If there were no rules of conduct, social gatherings would be chaotic.

Inventory that is seperated in three categories. They are general items used often, unique items used in one way, and specific items only in one product.

A law limiting the passenger rights in an automobile to get a refund from the drivers based on negligence. Negligence has to be proven to get the funds.

A model that compares military spending and food supplies in a nations spending. It shows the increase of one relying on the decreasing of the other.

Whole life insurance that has cash value that increases over the term until the age of 100. The cash value is equal to the face amount of the policy.

US life insurance for a group of people. The rate is lower than individual rates on universal life insurance. It is for employees in a business.

When group members agree with the majority. This causes alternative actions to be not taken or even heard. It can lead to a disasterous decision.

A manager that follows market trends to keep securities at the stronges market value. They manage a fund or portfolio to outperform the market.

Shares a firm issues that are consistently above average earning. They are traded at more money over a long period of time. AKA growth stock.

A loan with monthly payments that increase yearly. The more that is paid the more principal is paid and the time of the loan is shortened.

Coverage for hotel or motel property. It can cover a safe deposit box and legal liability for damages while in the insured’s possession.