Work Keys Exam With Complete Solution
Appraisal
practice of determining what something is worth
Asset
valuable property owned by a person or company
Bankruptcy
a legal status of a person or other entity that cannot repay the debts it owes
Beneficiary
a person who gains from something, especially a trust, will or life insurance policy
Breach of contract
term describing a situation where a binding agreement or bargained-for exchange is not honored by
one or more of the parties
Buyout
the purchase of a controlling share in a company, usually forcing another owner out of the company
Caveat emptor
"buyer beware", the idea that the buyer has a responsibility not to get fooled by high-risk sales
practices.
Credit report
report used by a lender to decide whether a person is likely to pay back a loan.
Discount
a reduction in price
Downpayment
money paid when a loan agreement is made
impound
seize and take legal custody of something because of a violation of a law or regulation
interest
fee, usually measured in percentage points, paid by a borrower to the owner as a compensation for
the loan
lender
person or group who allows another to borrow money or assets.
Appraisal
practice of determining what something is worth
Asset
valuable property owned by a person or company
Bankruptcy
a legal status of a person or other entity that cannot repay the debts it owes
Beneficiary
a person who gains from something, especially a trust, will or life insurance policy
Breach of contract
term describing a situation where a binding agreement or bargained-for exchange is not honored by
one or more of the parties
Buyout
the purchase of a controlling share in a company, usually forcing another owner out of the company
Caveat emptor
"buyer beware", the idea that the buyer has a responsibility not to get fooled by high-risk sales
practices.
Credit report
report used by a lender to decide whether a person is likely to pay back a loan.
Discount
a reduction in price
Downpayment
money paid when a loan agreement is made
impound
seize and take legal custody of something because of a violation of a law or regulation
interest
fee, usually measured in percentage points, paid by a borrower to the owner as a compensation for
the loan
lender
person or group who allows another to borrow money or assets.
