Joint Tenants in Common:
Joint ownership of an account where in the event of death,
a deceased tenants ownership is passed on to his
respective estate.
Joint Tenants With Right of Survivorship:
A joint ownership of an account where, in the event of
death, a deceased tenants ownership is passed to the
surviving tenant.
Jumbo CD:
A certificate of deposit with a minimum deposit required
of $100,000.
Junior Security:
A security with a lower claim on assets in the event of a
company's liquidation. Normally, common stock is most
junior to all other corporate issues. Then, from junior to
senior, the order is preferred stock, debentures, and
mortgage bonds. This last item is a direct claim on real
property and is the most senior.
Junk Bond:
A junk bond (or high-yield bond) is one with a credit
rating of BB or lower and that carries higher risk of
interest or principal default than better rated investment
grade bonds. Junk bonds are issued in leveraged buyouts
and other takeovers by companies without long track
records of sales and earnings, or by those with
questionable credit strength.
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