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The Mortgage Group®


GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Canadian Society of...Card Identification...
 
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Card Validation Code — Ceding Party
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Central 1 Credit UnionChartered Insurance...
card validation code (CVC2) — Acronym
  ➥  Mechanism for credit card fraud prevention.
card verification value (CVV, CVV2) — Acronym
cardholder not present (CNP) — Acronym
Refers to a transaction in which a merchant does not see the actual credit card. Examples include credit card payments by mail, facsimile, telephone, mobile device or computer over the Internet where the cardholder and credit card are not physically present at the point of sale.
  ➥  Credit card code also referred to as "Card Not Present."
carport (cprt, crprt)Definition
A roofed parking area that lacks one or more walls.
carrying costsDefinition
The cost of maintaining a property.
case managementDefinition
A system where medical services and patient treatments are coordinated by a case manager.
cash advance feeDefinition
A fee charged by the bank for using credit cards to withdraw money generally from an ATM or banking machine. This fee can be a flat fee per transaction or a percentage of the amount being advanced. For example, the fee may be set as: "2% / $10." This means the cash advance fee will be the greater of 2% of the cash advance amount or $10. Banks often limit the fee to a certain dollar amount.
cash back (CB) — Acronym
cash back mortgageDefinition, Important
A mortgage that provides the borrower a lump sum cash payment.
cash cardsDefinition
Cash cards, similar to pre-paid phone cards, contain a set amount of value, which can be read by a special cash card reader. Participating retailers will use the reader to debit the card in increments until the value is gone. The cards are like cash -- they have no built-in security, so if lost or stolen, they can be used by anyone.
cash collateralDefinition
The proceeds of cash collected from the sale of liquid assets while in bankruptcy.
cash flowDefinition
The money an investment produces after subtracting cash expenses from income.
cash flow forecastDefinition
An estimate of when and how much money will be received and paid out of a business. It usually records cash flow on a month-by-month basis for a period of two years.
cash flow return on investment (CFROI) — Acronym, Important
cash methodDefinition
The form of accounting in which you report income in the actual year you receive it and deduct expenses in the year you pay. Most individuals use this method. Under this system, if you built a deck and billed the client in December 1999 but didn't receive the cheque until January 2000, it would be counted as 2000 income, not 1999.
cash on delivery (COD) — Acronym
cash out mortgage (COM)Definition, Very Important
The taking out of a new mortgage on the same property in which the amount borrowed is greater than the amount of the previous mortgage. The difference is taken out in cash.
  ➥  More commonly referred to as "home equity loan" or "refinance."
cash out refinanceDefinition
The taking out of a new mortgage on the same property in which the amount borrowed is greater than the amount of the previous mortgage. The difference is taken out in cash.
cash refund annuityDefinition
An annuity that refunds any remaining balance to the beneficiaries or the annuitant's estate when the annuitant dies.
cash return on gross investment (CROGI) — Acronym
cash surrender value (CSV)Definition, Important
The liquid value of an insurance policy if the policyholder voluntarily cancels the policy before maturity or an insured event.
cash surrender value of life insurance (CSVLI) — Acronym
casualtyDefinition
A liability or loss that results from an incident or accident.
casualty and theft lossDefinition
A loss caused by a hurricane, earthquake, fire, flood, theft or similar event that is sudden, unexpected or unusual. You can deduct a portion of personal casualty or theft losses as an itemized deduction.
casualty insuranceDefinition
Insurance that covers losses and liability from injuries to others and/or damage to the property of others.
catastrophe hazardDefinition
An event, such as a hurricane or earthquake, that poses a risk of a catastrophic loss.
catastrophe insuranceDefinition
Insurance that covers losses due to catastrophe hazards such as hurricanes, earthquakes and terrorist attacks.
causationDefinition
A method of connecting an entity's conduct with an effect, which in some cases can prove legal liability.
caveatDefinition
To give warning, notice or caution; beware.
ceding partyDefinition
In reinsurance, a ceding party is an insurance company that spreads liability to a reinsurer in order to lower risk.
Previous Page
Canadian Society of...Card Identification...
 
Currently Displayed — Page 5
Card Validation Code — Ceding Party
  Next Page
Central 1 Credit UnionChartered Insurance...

Search the Glossary

Index for The Letter 'c'

Page 1: Caisse populaire
Canadian Apartment...
Page 2: Canadian Association of...
Canadian Information Centre...
Page 3: Canadian Institute for...
Canadian Securities...
Page 4: Canadian Society of...
Card Identification Number
Page 5: Card Validation Code
Ceding Party
Page 6: Central 1 Credit Union
Chartered Insurance...
Page 7: Chartered Insurance...
Clean Sheeting
Page 8: Clear Title
Combination Account
Page 9: Combined Loan-to-Value
Commissioner for Federal...
Page 10: Commissioners' Reserve...
Comprehensive Insurance
Page 11: Comptroller
Consolidated Credit...
Page 12: Consolidated Net Operating...
Contributory Negligence
Page 13: Controlled Growth
Cost of Insurance
Page 14: Cost of Living Adjustment
Credit Life Insurance
Page 15: Credit Limit
Current Loan-to-Value Ratio
Page 16: Current Market Value
Customer Relationship...

Notable Terms

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