Working in the finance industry requires you to have an understanding of the terminology
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Practice Problems

Working in the finance industry requires you to have an understanding of the terminology

Section 1: Industry knowledge

Task 1 — Key terms

Working in the finance industry requires you to have an understanding of the terminology used and the names of documentation that you will deal with. 

Demonstrate your understanding of some of the common terms and document names by completing the following tables: 

1. In your own words, complete the table below; define and explain loan transaction terminology and definitions of the following:

Lender and borrower

 

Lessor and lessee

 

Mortgagee and mortgagor

 

2. In your own words, complete the table below; define and explain the documentation used by lenders:

Credit check signed authority

 

Guarantee

 

Loan contract

 

Periodical payment authority

 

Signed application form

 

3. In your own words, complete the table below; describe:

The negotiation process

 

Customer Relationship Management (CRM) tool


Certificate of Currency


Hint
Accounts & FinanceFinancial companies provide loans for businesses, mortgages to homeowners, and insurance to consumers. If these activities are restricted, it stunts growth in both small businesses and real estate. Financial stocks are very popular investments to own within a portfolio....

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