[Music] Hello and welcome to Learning English Pro. I'm J. In today's lesson, we're diving into 100 English phrases for lawyers. These are all essential phrases that legal professionals can use in their day-to-day jobs. If you're an upper intermediate or advanced English learner working in law, you can't afford to miss this. We're covering everything from meeting clients and drafting contracts to courtroom drama and negotiation tactics. Stay tuned because by the end of this video, you'll sound more professional and confident in any legal setting.

Before we jump in, make sure to subscribe to my channel and hit the like button if you find this lesson helpful. Feel free to comment with your questions or examples. I read everything and I'll reply. Also, consider joining my student membership to get perks like a downloadable PDF guide that comes with this lesson. You'll also get early access to new videos and much, much more. The PDF guide for this lesson is available right now on the membership tab. Or if you want to check it as a onetime download, you can buy it for $4.99 in my YouTube store. Coming straight up after the 100 phrases, stick around for a 2hour crime and legal English master class. Go to the description to check out the timestamps and chapters for each section for easy navigation.

Now, let's get started on our first topic. In this first set of phrases, we'll look at how lawyers communicate during initial consultations and client meetings. These phrases help build trust and clarify the attorney client relationship from day one. All the phrases contained in this lesson are in the guide and each phrase in the guide comes along with a language note to give you a lot more comprehension around each phrase. Okay, let's get started.

Everything we discuss is protected by attorney client privilege.

Please tell me what happened in your own words.

Let's go over the details of your case.

We'll need to sign a retainer agreement.

Let me explain our fee structure.

What outcome are you hoping for?

I'll keep you updated on any developments.

I'm here to help you navigate this legal issue.

I will be representing you moving forward.

Feel free to contact me if you have any questions.

Great job getting through the first 10 phrases. We've just covered how to build trust with clients from ensuring confidentiality to discussing fees and goals. A quick quiz. Do you know what a retainer agreement is? That's right. It's a contract and initial fee for hiring a lawyer, which formalizes the attorney client relationship. If you found these phrases useful, remember to download the PDF guide for this lesson. It's available for student members and in the YouTube store.

Now, let's move on from the client meeting to the daily grind at the law office. How do lawyers communicate with their team and juggle day-to-day tasks? In the next section, we focus on phrases lawyers use with colleagues and staff in a law firm. From filing documents to meeting deadlines, these are day-to-day communications that keep the office running smoothly.

Let's file the motion before noon.

I'll draft the contract and send it to you for review.

Can you review this document for accuracy?

We need to gather more evidence before the hearing.

Let's meet with the team to strategize.

I'll handle the client meeting. Can you cover the call with the opposing council?

The deadline for this filing is tomorrow.

Let's schedule a meeting with the client for an update.

I'll take the lead on drafting the brief.

We need to prepare for the deposition next week.

Fantastic. In that last section, we saw how lawyers collaborate in the office, discussing drafts, meeting deadlines, and dividing tasks. Okay, a quick quiz. What does opposing council mean? Do you know the answer is it's the lawyer representing the other side of the case. What's been your favorite phrase so far? And which one do you think you'll use first? Let me know in the comments. I'd love to hear from you.

Up next, we're moving into planning and analysis. How do lawyers talk about building a case and analyzing the law? This section covers phrases used when lawyers discuss legal strategy, analyze the strengths and weaknesses of a case, and conduct legal research. These are the kind of things a lawyer say to each other when planning how to win a case.

Do we have grounds to sue?

What's the precedent for this issue?

We need to identify any weaknesses in our case.

Our argument hinges on this evidence.

The burden of proof is on the plaintiff.

This evidence is not admissible in court.

Is the witness credible?

We have a strong case.

Let's anticipate the opposing council's arguments.

We may need to revise our strategy.

You're doing great. We've just tackled legal analysis, asking if we have grounds to sue, checking precedence, and even deciding if a witness is credible. Here's a quick quiz. If something hinges on a piece of evidence, what does that mean? It means that the argument depends on that evidence. Well done if you got that right. By the way, if you're enjoying this lesson, consider joining my student membership. Members get some awesome perks. You'll unlock 200 plus professional English lessons, get early access to all my new videos, and even have the chance to send priority requests for lesson topics you want to see. Plus, you'll get every lesson PDF that I've ever published, including the one for this lesson, which is super handy for review.

Now, every good legal strategy needs solid documentation. Are you ready to shift gears to paperwork? In the next topic, we're exploring how lawyers talk about drafting documents and contracts and some formal language used in writing and correspondence.

I'll prepare the first draft of the contract.

This clause is legally binding.

We need to revise the agreement to include this point.

Please find attached the draft agreement for your review.

Please make sure to read the fine print.

We should include an indemnification clause.

The agreement is subject to approval by the board.

Pursuant to the contract, each party must maintain confidentiality.

Let's finalize the contract by Friday.

The contract will be legally enforcable once signed.

Well done. That topic introduced us to the world of legal writing and documentation. Here's a quick quiz. What do we mean by fine print? Fine print is the tiny detailed text in a contract that you must read carefully because it can hide important obligations or limitations. If you're really interested in learning these phrases, well, share this video with a colleague and have a chat about it. Practicing with a fellow English learner is a great and proven way to learn English.

Now you've drafted the documents and finalized the contracts, it's time to step into the courtroom. This section covers common phrases used in the courtroom during trials or hearings.

Objection, your honor.

Permission to approach the bench.

May it please the court.

We call our first witness to the stand.

Please state your name for the record.

Let me rephrase the question.

No further questions, your honor.

I move to dismiss the case.

We rest our case.

Your honor, I'd like to request a brief recess.

That was intense. Welcome to the courtroom. We've just learned some powerful courtroom phrases from raising an objection to calling witnesses and resting our case. Now, not every legal matter ends up in court. Often, lawyers work out deals or settlements outside of the court. Are you ready for some negotiation?

In our next topic, we'll explore phrases used in negotiations and settlements where finding common ground is key.

We are prepared to make a counter offer.

Let's try to reach a settlement out of court.

We're willing to compromise on some terms.

Let's find some common ground.

This could be a win-win situation.

Our client cannot accept these conditions.

We need to negotiate the terms of the agreement.

How about we meet halfway on this issue?

If we can't agree, we'll have to litigate.

Let's draft a settlement agreement.

You're negotiating like a pro. In that last topic, we learned how to propose a counter offer, suggest a win-win solution, and even how to politely say a deal is not acceptable. Now, a quick quiz. What does the term litigate mean? Did you figure it out? To litigate means to resort to legal action to settle a matter, to be involved in a lawsuit. Well done if you got that right.

Now, let's move on. Many of you might be dealing with companies, contracts, and compliance. In our next topic, we'll switch to corporate law, the world of business deals, regulations, and company operations. These phrases will come in real handy for lawyers working with businesses.

We need to perform due diligence before the merger.

Our company must comply with all regulations.

This deal is subject to regulatory approval.

He holds a 30% stake in the company.

The board of directors will convene next week.

We need to file the annual report by the end of the quarter.

The party signed a non-disclosure agreement.

The parties signed a non-disclosure agreement.

We have to incorporate the company before we start operations.

Our firm builds by the hour.

The merger is scheduled to close next month.

Awesome work navigating the corporate law lingo. Here's a quick test. What does comply with regulations mean? Correct. It means to follow all the rules and laws set by authorities.

Now, let's shift gears from boardrooms to courtrooms, specifically criminal courtrooms. Topic eight is all about criminal law, crime and punishment phrases. Whether you're a defense attorney or just love crime dramas, these are key terms in the US criminal justice system.

The suspect was read his Miranda rightites.

He decided to plead guilty to a lesser charge.

The case was dismissed for lack of evidence.

The defendant was charged with fraud.

The prosecutor offered a plea bargain.

The jury returned a guilty verdict.

He was released on bail.

The victim decided not to press charges.

He filed an appeal against the conviction.

The case must be proven beyond a reasonable doubt.

That's really great. You've just got a handle on criminal law basics. We've covered everything from Miranda rights to plea bargains and what happens when a jury returns a verdict. Let's have another quick quiz. What does released on bail mean? The answer is it means the defendant pays money as guarantee and stays free before trial instead of being in jail.

Let's move on. Now, not every legal phrase fits neatly into a single category. Some are general legal jargon or idiomatic expressions that lawyers throw around in any context. So, in topic 9, we'll explore these terms and phrases from Latin terms to fundamental principles that every lawyer should know.

The statute of limitations has expired.

That would be a breach of contract.

The court lacks jurisdiction in this matter.

It's just hearsay at this point.

Our firm does pro bono work for nonprofits.

We cannot take this case due to a conflict of interest.

We have a primmaaccia case for negligence.

The jury is still out on this issue.

It's an open andsh shut case.

The company should be held liable for damages.

Well done. You've just mastered some really heavy legal jargon. Nicely done. We've talked about concepts that span all areas of law. Statutes of limitations, breaches of contract, jurisdiction, and even sprinkled in some Latin. Here's a question. If I say the statute of limitations has expired, can we still file a lawsuit? And the answer is no, it means the deadline to sue has passed. So, the claim is timebarred. And guys, that's 90 phrases you've learned so far.

And we are just at the end, our very last topic where we'll focus on advising the client, counsel, and guidance. These are phrases that lawyers use when giving advice, managing client expectations, and wrapping up a case. Let's finish strong with the last 10 phrases.

I advise you to accept the settlement.

Let's try mediation before going to court.

There are no guarantees in court.

I want to manage your expectations.

There is always a risk we could lose at trial.

We achieved a favorable outcome in your case.

Please refrain from discussing the case with anyone.

As your attorney, I will handle all communications with the other side.

You should consider all your options before making a decision.

We need to prepare you for your testimony.

Congratulations. You've just learned 100 essential English phrases for lawyers, covering everything from meeting your first client to advising them at the end of a case. That was a marathon of legal English, and you should be proud for sticking with it. With these phrases, you'll be able to communicate confidently in client meetings, law offices, courtrooms, negotiations, and more. Remember, the key is not just knowing the vocabulary, but also understanding the context and nuance. And if you grab the PDF guide for student members or in the YouTube store, you'll be able to have the complete learning experience. The guide includes all 100 phrases, and each phrase comes with a language note to help you really understand it thoroughly. The guide also includes a glossery of key terms to help you understand the vocabulary and the terms even better and also includes two additional exercises to really test your metal with these English phrases for lawyers.

But don't go anywhere. Coming right up is my 2-hour crime and legal English master class. In this master class, we'll cover US crime terminology in depth from crimes and criminal procedures to courtroom dialogue and it's fully chaptered and timestamped so you can jump to any section you need. It's an excellent next step, especially after learning the criminal law phrases in this lesson. Thank you for watching and I'll see you in the next lesson.

Hello and welcome back to Learning English Pro. I'm Jar, your online tutor and guide. In today's lesson, we're diving into the world of legal and crime English vocabulary. Whether you're a law student, a legal professional, or someone interested in understanding legal and crime terms, this lesson is for you. To make the most out of this lesson, follow along with the timestamps provided in the video description. This will allow you to jump to specific sections and terms quickly. So, let's get started on our legal English vocabulary.

Our first term is affidavit. Repeat after me. Affidavit. This is a written statement confirmed by oath or affirmation used as evidence in court. Let's try out this word in an example sentence. The witness submitted an affidavit to support her testimony.

Our next term is alibi. Alibi. An alibi is a claim that one was elsewhere when a crime was committed. The defendant's alibi was that he was at a business meeting during the time of the robbery.

Appeal. Repeat after me. Appeal. This is when one applies to a higher court for a reversal of the decision of a lower court. Let's use this in an example sentence. The lawyer decided to appeal the case after the unfavorable verdict.

Let's move on to arraignment. Arrainment. An arraignment is the act of calling someone before a court to answer a criminal charge. During the arraignment, the defendant pleaded not guilty.

Our next term is bail. Bail. Bail is the temporary release of an accused person awaiting trial, sometimes on condition that a sum of money is lodged to guarantee their appearance in court. The judge set bail at $10,000.

Our next term is barristister. Barrister. A barristister is a lawyer entitled to practice as an advocate, particularly in higher courts. Let's use barrister in an example sentence. The barristister presented a compelling argument in court.

Let's move on to brief. brief. In the legal context, a brief is a written statement submitted in a trial or appelade proceeding that explains one side's legal and factual arguments. Our example sentence is the attorney prepared a detailed brief for the upcoming case.

Let's move on to case law. Case law. Case law is law established by the outcome of former cases. The lawyer cited case law to support his argument.

Complaint. Repeat after me. Complaint. In a legal context, a complaint is a formal legal document that sets out the facts and legal reasons for a lawsuit. Let's use it in an example sentence. The plaintiff filed a complaint against the company for breach of contract.

And a contract is our next term. Repeat after me. contract. This is a written or spoken agreement that is enforcable by law. Let's use it in a sentence. Both parties signed the contract to formalize their business agreement.

Our next term is conviction. Repeat after me. Conviction. In the legal sense, a conviction is a formal declaration that someone is guilty of a criminal offense. The conviction was based on overwhelming evidence.

Our next term is crossexamination. Crossexamination. This is the questioning of a witness by the opposing party during a trial. The defense attorney's crossexamination was intense and thorough.

Our next legal English term is defendant. Repeat after me. Defendant. A defendant is an individual, company, or institution sued or accused in a court of law. The defendant maintained his innocence throughout the trial.

Let's move on to deposition. Deposition. A deposition is the process of giving sworn evidence. Let's use it in an example sentence. The deposition was recorded and will be used in court.

Let's move on to the term due process. Due process. Due process is the idea of fair treatment through the normal judicial system, especially as a citizen's entitlement. The defendant's right to due process was upheld.

Our next term is in Latin, habius corpus. Repeat after me, habius corpus. This is a writ requiring a person to be brought before a judge or court. Let's use it in an example sentence. The lawyer filed a habius corpus petition on behalf of the detained individual.

Let's move on. And our next term is injunction. Repeat after me. Injunction. An injunction is an authoritative warning or order. Let's try it out in a sentence. The court issued an injunction to prevent further environmental damage.

Our next term is jury. Jury. A jury is a group of people sworn to render a verdict in a trial based on evidence presented. Let's take a look at our sentence. The jury deliberated for hours before reaching a verdict.

Litigation. Repeat after me. Litigation. Litigation is the process of taking legal action. The company faced litigation over patent infringement.

Mediation. Mediation. Mediation is an intervention in a dispute to resolve it. The case went to mediation before reaching the courtroom.

Our next term is parallegal. Repeat after me. Parallegal. A parallegal is a person trained in subsidiary legal matters but not fully qualified as a lawyer. Let's use it in a sentence. The parallegal assisted the attorney in preparing for the trial.

Let's move on to plaintiff. Plaintiff. A plaintiff is a person who brings a case against another in a court of law. The plaintiff alleged that the company had violated the contract.

Our next term is plea bargain. Repeat after me. Plea bargain. A plea bargain is an agreement in a criminal case where the defendant pleads guilty to a lesser charge. Our example sentence is the defendant accepted a plea bargain to avoid a lengthy trial.

Next up, we have probate. Probate. Probate is the official proving of a will. The probate process was completed smoothly and the estate was distributed.

Our next term is prosecutor. Prosecutor. A prosecutor is a legal representative who brings charges against a suspect in a criminal case. Let's try out the word in a sentence. The prosecutor presented the evidence against the accused.

Our next term is statute. Repeat after me. Statute. This is a written law passed by a legislative body. The new statute aims to reduce environmental pollution.

Next up, we have subpoena. Repeat after me. Subpoena. A subpoena is a writ ordering a person to attend a court. The witness received a subpoena to testify in court.

Let's move on to testimony. Repeat after me. Testimony. A testimony is a written or spoken statement given in a court of law. Let's check out our sentence. The witness's testimony was crucial to the case.

Next up, we have tort. Repeat after me. Tort. This is a wrongful act or an infringement of a right leading to legal liability. The company was sued for the tort of negligence.

Next up, we have verdict. Repeat after me. Verdict. A verdict is the decision of a jury or judge. Let's check out our sentence. The jury returned a verdict of not guilty.

Well done. You've just learned 30 essential terms for legal English. Next up, we're going to take a look at some crime vocabulary. And coming up later in the lesson is our finance and English master class. So stick around for that. But for now, let's jump into the fascinating world of crime in English. In this video, I am focusing on different types of crime and some essential accompanying vocabulary. If you are affected by any of the issues discussed in the video, please reach out to a trusted person like a friend or doctor for advice and support. And just to note before we begin, definitions in this video are from the American judicial system, although they are commonly used in lots of different countries as well.

Our first term is the crime of assault and battery. Let's break down these two different words to understand what this crime is. An assault is an attempt or threat to injure another person. And the word battery means the act of making contact with another person in a harmful or offensive manner. Let's take a look at our first example sentence. The police arrested him for assault and battery against his partner.

Next up, let's take a look at this verb arrest. And this means to seize someone by legal authority and take them into custody.

Our next term is the crime of aggravated assault. This is a more serious type of assault and it is defined as an attempt to cause serious bodily harm to an individual with disregard for human life. Factors that raise an assault to the aggravated level typically include the use of a weapon, the status of the victim, the intent of the perpetrator, and the degree of injury caused. Let's take a look at an example sentence. He was arrested for an aggravated assault in the city center last week.

Our next term is another crime, aiding and abetting. These two words are synonyms of the word help. And the definition is a charge usually brought against someone who helps in the commission of a crime. Though legal distinctions vary by state and country. A person charged with these crimes is usually not present when the crime itself is committed, but they have knowledge of the crime before or after the fact and may assist in its commission through advice, actions or financial support. And we have a word to describe someone charged with this crime, an accessory. This describes someone who gives assistance to the perpetrator of a crime without taking part of it. Our example sentence is they were arrested for being an accessory to the crime.

Next up, we have the crime of arson. Let's take a look at the definition. Arson is defined as the willful and malicious burning or charring of property. And while the majority of arson crimes involve damage to buildings, arson can also be committed by a person who sets fire to forests, lands, or boats. And we have the term arsonist to describe a person who commits arson. Now, I'd like to take the time to have a look at the verb to commit. And in relation to a crime, it means to perpetrate or carry out something like a crime or even a sin. So you don't make or do a crime, you commit a crime. Let's take a look at some example sentences. She committed a crime. He has been arrested because he committed assault. They committed arson in the forest last summer. He committed an assault against his brother.

Next up, we have the term bribery. Let's take a look at the definition. Bribery is the offer or acceptance of anything of value in exchange for influence on a government or public official or employee. Our example sentences, he was arrested because he committed bribery.

If this is your first time visiting my channel, Learning English Pro, you're very welcome. My name is J and I'm narrating your lesson today. If you're enjoying this lesson, make sure to hit the subscribe button and stay updated on all my latest videos. Let's get back to our crime vocabulary. And our next term is the crime burglary. Burglary is typically defined as the unlawful entry into almost any structure, not just a home or business, with the intent to commit any type of crime inside. Unlike robbery, which involves the use of force or fear, to obtain another person's property, there is usually no victim present during a burglary. And we have the word burglar to describe a person who commits a burglary.

Let's move on to our next term which is the crime of cyber bullying. This crime refers to the use of internet and/or mobile technology to harass, intimidate or cause harm to another person. And we have the term cyber bully to describe a person who commits the crime of cyber bullying.

Let's move on to our next term which is the crime of disorderly conduct. Generally speaking, police often use a disorderly conduct charge to keep the peace when a person is behaving in a disruptive manner but presents no serious public danger. I want to take a look at this important word charge. This word can be a verb or a noun. And in relation to crime and in the verb form, it means to officially accuse someone of something, especially an offense under law. And the noun describes an accusation, typically one formally made against a prisoner brought to trial. Let's take a look at some example sentences. The police charged him with cyber bullying. The cops are charging politicians with bribery. They will charge her with committing a burglary. They charged the man with assault and battery.

[Music] Let's take a look at some example sentence using charge as a noun. The charges against him are very serious. He received a charge of assault this morning. Another term which is related to this is the phrasal verb to press charges. And when you press charges, you do it against someone. So the police do not make or give charges, they press charges against someone. Let's take a look at some example sentences. The police have pressed charges against the singer. The victim would not press charges against the attacker. The police want to press charges against the woman.

Okay, let's move on to our next term, which is the crime of domestic violence. This refers to violent or abusive acts committed by one family or household member against another. Domestic violence can refer to physical harm or behavior that is controlling, coercive or threatening. It can occur in any kind of intimate relationship, married or unmarried, straight or gay, living together, or simply dating.

Fraud. Repeat after me. Fraud. Fraud is the wrongful or criminal deception intended to result in financial or personal gain. And one very common type of fraud is credit or debit card fraud. Let's take a look at the definition. Credit and debit card fraud is a form of identity theft that involves an unauthorized taking of another's credit card information for the purpose of charging purchases to the account or removing funds from it. This theft can occur physically when the actual credit and debit card is taken or the theft can occur when just the numbers are stolen from an unprotected website or a card reader at a gas station. An example sentence would be, "The gang were involved in credit card fraud." "The gang were involved in credit card fraud."

Our next word is the noun court. Repeat after me, court. A court is any person or institution, often as a government institution, with the authority to adjudicate legal disputes between parties and carry out the administration of justice in civil, criminal, and administrative matters in accordance with the rule of law. The noun court can also describe the building or room where a court meets. We also have the noun judge. And a judge is a public officer appointed to decide cases in a law of court. You could also say that the judge is the head of the court.

Our next term is the crime of criminal contempt of court. Repeat after me. Criminal contempt of court. This crime refers to behavior which disobys, offends or disrespects the authority or dignity of a court. It can occur directly in the presence of the court or indirectly when it happens outside the presence of the judge. Criminal contempt charges become separate charges from the underlying case. We have the phrasal verb to hold in contempt which is used in relation to this crime. Let's take a look at some examples of it in use. A judge might say, "I will hold you in contempt of court for your actions." Or we could say, "John was held in contempt of court by the judge."

Up next, we have another crime, disturbing the peace. Disturbing the peace, also known as breach of the peace, is a criminal offense that occurs when a person engages in some form of unruly public behavior, such as fighting or causing excessively loud noise. An example sentence would be, "He was arrested for disturbing the peace." He was arrested for disturbing the peace.

Our next term is the crime of drug possession. It is a crime to willfully possess illegal controlled substances such as marijuana, metaampetamine, cocaine, LSD, club drugs, and heroin. These laws also criminalize the possession of chemicals used in drug cultivation and manufacturing as well as certain accessories related to drug use. We also have the crime of drug trafficking. Drug trafficking is selling, transporting or importing illegal drugs. Another name for this crime is drug distribution. When a state or federal government classifies a substance as controlled, it generally means that the use and distribution of the substance is governed by law. So controlled substances is another word for illegal drugs or prescription drugs.

Next up, we have the crime of driving under the influence. This is also commonly known as a DUI or drunk driving. Most states define crimes of driving under the influence as driving a motor vehicle on a road or highway while under the influence of alcohol or drugs. An example sentence would be, "The actress has two DUI offenses." The actress has two DUI offenses.

Up next, we have the crime of embezzlement. Repeat after me. Embezzlement. Let's take a look at the definition. The crime of embezzlement is where a person has lawful possession of the property of another, converts or takes that property for their own use, and has no intention of giving it back. This type of crime is most common in the employment and corporate fields. We also have the term embezzler. Repeat after me. Embezzler. This is a person who steals money despite being entrusted to take care of it. So if you commit the crime of embezzlement, you are an embezzler.

Our next term is the crime of extortion. Repeat after me. Extortion. Extortion is the crime of obtaining money or property by threat to a victim's property or loved ones, intimidation or false claim of a right. We also have the crime of cyber extortion. And unfortunately, this crime is on the rise in modern society. Cyber criminals use a tool known as ransomware to encrypt a user's important files and documents, making them unreadable until a ransom is paid.

Next up, let's explore the difference between these two nouns, jail and prison, which are often confused. Jails are intended for short sentences and temporary confinement, while prisons are for felony sentencing longer than a year. Jails are usually much smaller than prisons and can be located within a police station. Prisons are usually huge complexes with many buildings. We also have the noun cell which you can find in a jail or a prison. Cell. And the definition of this word is a small room in which a prisoner is kept confined in. And to be more specific, you can refer to it as a prison cell or a jail cell, depending on which location it is located. Let's also take a look at the noun prisoner. This word describes a person legally committed to prison as a punishment for a crime or while awaiting a trial. Let's take a look at some synonyms for this word. We have the word inmate or convict. And short for convict, we have the word con. A more official word would be detainee. And a more casual or funny word would be a jailbird.

Forgery. Forgery. The crime of forgery generally refers to the making of a fake document. the modification of an existing document or the unauthorized signing of a signature without authorization. Someone who commits the crime of forgery is known as a forger. This is defined as a person who produces fraudulent copies or imitations. We can use the word forgery along with fake or copy to describe a forged document, signature, banknote or work of art.

Let's move on to our next term which is harassment. Repeat after me. Harassment. Harassment refers to a broad range of behaviors that are subject to both criminal punishment and civil liability. There is a wide variety of criminal laws forbidding harassment in many forms including general harassment crimes as well as specific forms of harassment such as stalking and cyberstalking. A harasser is a person who causes repeated emotional pain, distress, or annoyance to another. Someone who is the victim of harassment may seek a restraining order. This is a temporary court order issued to prohibit an individual from carrying out a particular action, especially approaching or contacting a specified person. A type of harassment is stalking, which is a crime in itself. Stalking. Let's take a look at the definition. The crime of stalking can be simply described as the unwanted pursuit of another person. Examples of this type of behavior include following a person, appearing at a person's home or place of business, making harassing phone calls, leaving written messages or objects, or vandalizing a person's property. Someone who commits this crime is called a stalker. And we define this as someone who harasses or persecutes someone with unwanted and obsessive attention. Synonyms of stalker include prowler, peeping tom or intruder.

Our next type of crime is called a hate crime. Repeat after me. Hate crime. A hate crime is the violence of intolerance and bigotry intended to hurt and intimidate someone because of their race, ethnicity, national origin, religion, sexual orientation or disability. This is also known as a bias crime and it is a criminal offense where the purveyors of hate can use explosives, arson, weapons, vandalism, physical violence, and verbal threats of violence to instill fear in their victims, leaving them vulnerable to more attacks and feeling alienated, helpless, suspicious, and fearful.

Our next crime is homicide. Repeat after me. Homicide. Homicide is the killing of one person by another. But not all homicides are crimes. However, all killings of humans are included in the homicide definition. Many homicides such as murder and manslaughter violate criminal laws. Others such as killing committed in justified self-defense are not criminal. Illegal killings range from manslaughter to murder with multiple degrees of each representing the gravity of the crime. Let's take a look at these in closer detail. There is firstdegree murder. Repeat after me. Firstderee murder. This is the most serious criminal homicide. Typically, first-degree murder is both intentional and premeditated. Premeditated means an action which is thought of and planned in advance. Premeditated in regards to murder can mean anything from a longtime plan to kill the victim to a shorter term plan. The intent of the accused murderer does not need to be focused on the actual victim. If someone planned on killing one victim but by accident killed someone else, the murder is still intentional and premeditated, meaning a firstderee murder charge.

Next up, we have seconddegree murder. Second degree murder. When there is a lack of premeditation, but the killer intended to kill, the homicide may draw secondderee murder charges or perhaps voluntary manslaughter charges. So, moving on, our next term is manslaughter. Repeat after me, manslaughter. This generally means an illegal killing that falls short of murder. The lowest form of manslaughter is involuntary manslaughter. This means that the perpetrator didn't intend to kill anyone, but still killed the victim through behavior that was either criminally negligent or reckless. In contrast, voluntary manslaughter usually means that the offender did not have a prior intent to kill, such as when the homicide occurs in the heat of passion and without forethought.

[Music] And someone who commits a homicide is generally called a murderer. Synonyms of murderer include killer, slayer, and executioner.

If this is the first time you're visiting my channel, Learning English Pro. You're very welcome. My name is J and I'm narrating your lesson today. Make sure to subscribe and share this video with a friend. Let's get back to our vocabulary. And our next crime is identity theft. Repeat after me. Identity theft. Identity theft and identity fraud are terms used to refer to all types of crimes in which someone wrongfully obtains and uses another person's personal data in some way that involves fraud or deception, typically for economic gain. Someone who commits identity theft or any kind of fraud is generally known as a fraudster. Synonyms of a fraudster include scammer, con artist, swindler, my favorite, which is gouger, chisler, and grifter.

Our next crime is indecent exposure. Repeat after me. Indecent exposure. Indecent exposure laws in most states make it a crime to purposefully display one's genitals in public, causing others to be alarmed or offended. While the motive will vary from person to person, indecent exposure is often committed for the sexual gratification of the offender or to entice a sexual response.

Our next term is insurance fraud. Insurance fraud. Insurance fraud occurs most often when an insured individual or entity makes a false or exaggerated insurance claim, seeking compensation for injuries or losses that weren't actually suffered. This type of crime can also be committed upon customers through the sale of unlicensed or bogus insurance coverage to unsuspecting clients or an insurance broker or agents theft of insurance premiums paid by clients. Police and prosecutors typically refer to a fraudulent insurance claim as either hard fraud or soft fraud. Hard fraud is when someone deliberately fakes an accident, injury, theft, arson, or other loss to collect money illegally from insurance companies. Saw fraud is when normal, honest people often tell little white lies to their insurance company for the purposes of filing or maximizing a claim.

Money laundering. Money laundering. This is transferring money derived from any criminal activity like a bank robbery into seemingly legitimate channels like a bank account or investment. Money from a bank robbery is considered dirty money. So by putting it into a bank account, you are making the money clean again.

Our next term is the crime of perjury. [Music] To commit perjury is to knowingly make misleading or false statements under oath or to sign a legal document you know to be false or misleading. This crime is taken very seriously because the foundation of the legal system depends on trust and credibility. If you commit this crime, you are called a perjurer. And we also have an idiom to perjure oneself. To perger is the verb form. So we could say John perjured himself in court today.

And moving right along, our next term is probation. The definition of probation is the release of an offender from detention subject to a period of good behavior under supervision. So that brings us to the crime of probation violation. This is an offense that occurs when you break the terms or conditions of your probation. Let's take a look at the reasons why someone might violate their probation. They might violate for not appearing during a scheduled court appearance on a set date and time or for not reporting to your probation officer at the scheduled time or place. It could be for visiting certain people or places or traveling out of state without the permission of your probation officer. It could also be for possessing, using, or selling illegal drugs, or committing other crimes or offenses, or getting arrested for another offense. So, if you're on probation, good behavior is essential.

Our next term is the crime of public intoxication. This is also called public drunkenness, and it occurs when a person is visibly drunk or under the influence of drugs in public.

Our next term is the crime of raketeering. This is when organized groups run illegal businesses known as rackets or when an organized crime ring uses legitimate organizations to embezzle funds. [Music] A lot of rackets deal in industries that are clearly illegal such as prostitution, sex trafficking, and drug trafficking.

Our next term is the crime of rape. This generally refers to non-consensual sexual intercourse that is committed by physical force, threat of injury, or other duress. The victim's lack of consent is the crucial element. A lack of consent can include the victim's inability due to the effects of drugs or alcohol to say no. We also have the term rapist to describe someone who commits this act. There is also statutory rape. Let's check out the definition. This refers to sexual relations involving someone below the age of consent. People who are underage cannot legally consent to having sex. So any form of sexual activity with them violates the law. This is true even in situations where they signal their agreement. Rape and statutory rape fall under the umbrella term of sexual assault. The definition states that the term encompasses various actions that involve behavior or contact toward another person without their consent or permission. Let's take a look at some of the actions that are covered under sexual assault. Fondling, kissing, or making unwanted bodily contact. Forcing another person to perform or receive oral sex. Forcing a body part onto or into another person's genitals. And included in sexual assault is forced masturbation. If you have been subjected to any of the issues covered so far in this video, please make sure to talk to someone that you trust and can offer you guidance and support.

Okay, let's move on to our next term, which is the crime of robbery. [Music] Robbery is theft accomplished by violence or the threat of violence. Unlike a theft or burglary, the crime of robbery almost always requires the presence of a victim who is threatened with bodily harm.

On screen, you will see someone committing a crime. This is our next term, which is shoplifting. And this generally refers to the theft of merchandise from a store or place of business. But did you know that many states have enacted statutes specifically authorizing stores and their employees to detain suspected shoplifterss in certain circumstances? These laws serve to protect the stores from lawsuits claiming false imprisonment or false arrest. We also have the term shoplifter. The definition is a person who steals goods.

From a shop while pretending to be a customer. We also have some synonyms for shoplifting like pilfering or pilfridge. There's also perlloining and filching.

Let's move on to our next term which is the crime of solicitation. The definition is the crime of solicitation is requesting, encouraging, or demanding someone to engage in criminal conduct with the intent to facilitate or contribute to the commission of that crime. Commonly, solicitation often is linked to prostitution with the crime being the request of someone to engage in sex for money. Someone can still be guilty of solicitation even if their request is not accepted or the subsequent crime simply never happens.

And our next term is the crime of tax evasion or fraud. And if you intentionally fail to pay taxes or under report your taxable income, you could be charged with tax evasion. This is commonly charged against those suspected of certain organized crimes where the source of their income is in doubt.

Let's move on to our next term, which is the crime of telemarketing fraud. This crime happens when some sort of fraud is committed through communication over the telephone. This can involve fraudulent selling to a victim or some type of scam to steal credit card or banking information or private data such as identity information.

Let's roll on to our next term which is the crime of vandalism. This is a broad category crime that's used to describe a variety of behaviors. Generally, it includes any willful behavior aimed at destroying, altering, or defacing property belonging to another. Types of vandalism include spray painting another's property with the purpose of defacing or scratching paint off someone's car, breaking someone's windows, defacing public property with graffiti, slashing someone's tires, altering or knocking down street signs, damaging someone's property in general. And it even includes throwing eggs at someone's house or car. We also have the term vandal to describe someone who commits vandalism.

Hello and welcome back to Learning English Pro. My name is J, your online tutor and guide. In today's lesson, we are taking a tour of money and finance English vocabulary in a master class from Learning English Pro. In this lesson, you'll transform your English skills through a series of engaging and informative lessons on financial terminology and concepts. So whether you're starting out or looking to refine your expertise, this master class has something for everyone.

In our first lesson, we're going to take a look at some basic money vocabulary. So, get ready for lots of useful English learning and don't forget to subscribe. Money is at the center of almost every aspect of our lives. In English, we say money makes the world go round. Another word for money you may hear is cash. And this usually refers to physical money. You might hear someone say, "I have some cash in my pocket." Cash can also refer to small amounts of non-physical money. You could hear someone ask, "Can you transfer some cash to my bank account, please?" Physical cash money comes in two different forms, coins and bank notes.

[Music] However, becoming more common is credit cards and debit cards. We will take a look at debit cards later, but for now I want to focus on this important word, credit. The definition of credit is the ability of a customer to obtain goods or services before payment based on the trust that payment will be made in the future. Another way to talk about credit is to say that it is money that you borrow and are usually charged interest on. But what is interest? Interest is the charge for the privilege of borrowing money. The amount of interest charged is usually called the interest rate. Something which you are commonly charged interest on is called a loan. A loan is a sum of money that is expected to be paid back with interest. Let's use some of these words in a sentence. We needed some credit. So, we got a loan from the bank with a good interest rate.

So, what kind of loans can you take out from the bank? Let's have a little look at three types of loans you may commonly take out in your lifetime. When you need a loan to buy a house, we call this loan a mortgage. The T is silent. mortgage. Another common loan is a student loan. And many people get a car loan to purchase a new car.

When people have a lot of money, we have certain words we use to describe them like wealthy or rich. Or you can say someone is very well off. When you have lots of money, you can buy lots of expensive things. And in English, we say that the wealthy have comfortable lives. But we all need to ask, can money buy you happiness? If you don't have a lot of money, you might be described as poor or broke. Or someone might say that you are badly off. People who don't have much money might have to live on a budget and they may have stressful lives which can affect health and well-being.

Okay, let's move on and have a look at some new different words for money and how we may use them. A word I'm sure everyone around the world knows very well, tax. And this is the money that you pay to the government and you pay it on goods, services, profits, and income. Our next word is donation. And this word describes money you give to charity. Next up, we have two words, salary or wages. And these words mean money paid to you from your employer. It is usually paid weekly or monthly. And if you work hard, you may get a bonus. This is an additional payment from an employer for good performance. And in Western culture, it is quite common for your employer to give you a Christmas bonus.

Let's move on and have a look at some words for money you may use when you're shopping. Our first word describes something you may find typically in a magazine or newspaper. A coupon. A coupon is a token entitling the holder to a discount of a particular product. Something you can give as a present to someone is a voucher or a gift certificate. This usually comes as a piece of paper or an electronic card that entitles the holder to a cash discount or it may be exchanged for goods or services. When you go to a restaurant and you have a nice experience with the serving staff, you can leave them a tip. This is a sum of money given to someone as a reward for a service.

It is becoming more and more common to pay by card. We have already taken a look at a credit, but let's have a look at a debit card and what that means. A debit card is a card allowing the holder to spend or use money directly from their personal bank account. When you use a card to pay for something, you might need to use your chip and pin. This is a way of paying for goods by debit or credit card whereby one enters one's personal identification number into an electronic device. Another way which is becoming very common is tap and pay. This is a form of payment that allows a customer to tap a card or device against a card reader to pay instead of inserting a card. And by device, we usually mean a phone or maybe even a watch. Can you believe that brings us to the end of our vocabulary lesson?

I [Music] Hello. I hope you're having a great day. You're very welcome to this English vocabulary lesson on banking. So, if you're ready, sit back, relax, and let's learn some English together.

The first word we will look at today is, of course, bank. It is a verb and a noun, but we will take a look at the noun definition first. A bank is a financial institution. It uses money deposited by customers for investment. It pays out money when required. It makes loans at interest and it exchanges currency. Let's move on and take a look at the verb definition of bank. As a verb, it means to have an account at a particular bank. So you could say she banks with the national bank.

Sometimes a bank will have more than one office or store. An office of a bank is called a branch. And the full definition of a branch is a division or an office of a large business or organization operating locally or having a particular function. Let's use this word in a sentence example. The bank has a branch in the village. The bank has a branch in the village.

When you open a bank account, you become a customer of the bank. Let's take a closer look at this term bank account. The definition is a record or statement of financial deposits and expenditure. Let's look at some sentence examples. You could say I need a bank account. But it is better English to say I need to open a bank account. We use the verb open when we want to create or have a bank account. So when you go to the bank, you could say, "Hi, I would like to open a bank account, please." Let's take a look at the things you need to open a bank account. You will need official identification like a passport or national ID. You will also need proof of address like an electricity bill, and you will have to fill out an application form.

Once you have completed your application and you get your bank account, one of the first things you will receive is a debit card. If you want to learn more about debit cards and different types of money, check out my money vocabulary video. The link is on screen now. One of the first places you will use your debit card is probably the ATM. Now, what does ATM mean? It is an acronym of automated teller machine. At the ATM, you will also need your PIN. PIN is another acronym and it stands for personal identification number.

A verb withdraw, which means to take money out of an account. So, you could say, "I withdraw about $80 a week from my account." Another way we can say this is by using the phrasal verb take out. I need to take out some money from the ATM. Let's move on to our next word, which is the opposite of withdrawal. Lodgment. And this noun means the action of putting money into your bank account. Let's use it in a sentence example. Hello, I would like to make a lodgement, please. This is something that you can say at the desk in the bank. And of course, we have a verb for this action as well, lodge. And this verb describes, of course, the act of putting the money into your bank account. A sentence example is, "I will lodge the money into my bank account tomorrow." We can also use a phrasal verb here, put into. I put some money into my account yesterday.

Coming up next, I have a question for you. How much money do you have? To answer this question, you will need to know what the word balance means. In financial terms, this noun means the amount of money held in a bank account. So to know your balance, you could say, "I should check my balance later." If you don't have very much money, you could say, "My bank balance is very low." or if you have lots of money, a nice way to say it is, "My account balance is pretty healthy."

There are so many banking terms that I couldn't fit them all into this video, so I've decided to make another video on banking terms. Our first banking term is credit transfer. And this is a direct payment of money from one bank account to another. Let's take a look at an example conversation. "Can you send me the money by credit transfer?" And the reply could be, "I will transfer the money to your account straight away."

Our next banking term also involves money leaving your account. direct debit. And the definition is an arrangement made with the bank that allows a third party to transfer money from a person's account on agreed dates, typically in order to pay bills. Let's take a look at an example sentence. I pay my phone bill by direct debit every month. One more time. I pay my phone bill by direct debit every month.

Our next banking term is standing order. And this is an instruction to a bank by an account holder to make regular fixed payments to a particular person or organization. You could say, "I organized a standing order with my bank to pay my rent every month."

Next up, I have a question for you. What are bank charges? Not sure? Well, to make a profit and pay operating expenses, banks typically charge for the services they provide. Let's take a closer look at this word charge, which is a noun, and the definition is a price asked for goods or services. A sentence example is "I get a lot of bank charges on my account."

Something you may receive a bank charge on is an overdraft. This is a shortfall in a bank account caused by drawing more money than the account holds. When you are low on money in your account, some banks will allow you to spend more money than you have.

[Music] When you have a balance of less than zero, we call this a minus amount. A sentence example could be, "I have an overdraft on my account at the moment." Or we could use the adjective overdrawn. I am overdrawn on my bank account at the moment. Something else you can say is "I paid off my overdraft last week." Here we are using the phrasal verb paid off. And in relation to banking, paid off means the act of giving a bank or a person all the money that you owe them. Something else you could pay off is a loan. A loan is a thing that is borrowed, especially a sum of money that is expected to be paid back with interest. A sentence example is, "I got a loan from the bank so I could go on a dream vacation." We can also use the verb to borrow. I borrowed some money from the bank so I could go on vacation.

With bank accounts, there are generally two different types. A savings account or a checking account. A checking account is what they call it in America and in British English it is called a current account. Let's take a closer look at a savings account. The definition is a bank account where you save your money. You could also say that savings accounts are designed for earning interest on your money.

Now, I've just mentioned three important words. Savings, save, and interest. So, let's take a closer look at save first, and we'll come back to the other two. Save is a verb, and it means to keep and store up something, especially money, for future use. In a sentence example, we could say, "I save my money in my savings account every month." Let's move on to our next word, which is saving. This is the gerund or present participle tense of the verb save. As an example, we could say, "I am saving my money." We also have a very similar word which is a noun, savings. And this plural noun means the money one has saved, especially through a bank or official scheme. You could say, "I keep my savings in my bank account."

The next word we're going to look at is interest. So, what is interest? Let's take a look at the definition. Interest is money paid regularly at a particular rate for the use of money given as a loan or credit. There are two ways to think about interest. It is money the bank will charge you on a loan or on an overdraft. But it is also what we call the money the bank will pay you on savings and investments. So one person may say "my bank charged me a lot of interest on my overdraft." While another may say "I earned some money from the interest on my savings." Can you believe that brings us to the end of another vocabulary lesson?

[Music] Welcome back to Learning English Pro. In this video, we are back with more financial English. this time with a focus on credit cards and an extensive and detailed English glossary on common terms and vocabulary associated with billing, interest rates, and using a credit card. So, if you are ready, it's time to sit back, relax, and let's learn some English together.

Our first term is card holder. Card holder. Let's take a look at the definition. A card holder is a person who has a credit card or debit card. Let's use it in an example sentence. "I am a card holder and it is okay to charge my card for this purchase."

Our next term is annual fee. Repeat after me. Annual fee. This is a once-yearly charge for having a credit card. Let's use this term in our example sentence. "My annual fee for my credit card is now due."

Up next, we have transaction fees. Transaction fees. The definition is a fee charged for using a credit card for certain types of transactions like in an ATM. We could say "my bank does not charge me any transaction fees."

Our next word is balance. Balance. [Music] And in relation to a credit card, a balance is the amount of money you owe on your credit card bill. It can change from month to month depending on whether you pay your bill in full and on time. Our example sentence is, "Thankfully, the balance on my credit card is low at the moment."

If you have a high balance on your credit card, you may want a balance transfer. Repeat after me. Balance transfer. This is a transfer of debt from one credit card to another. And you usually do this for a fee. Our example sentence is, "I need a balance transfer to get my debt under control."

Up next, we have the term credit limit. Repeat after me. Credit limit. [Music] This is the maximum amount of credit a borrower can use on a credit card. Exceeding the limit usually involves a penalty fee. We could say, "I cannot buy those shoes because I have reached my credit limit."

Our next term is interest rate, which we've already mentioned in this video. Interest rate. The definition is the charge for borrowing a sum of money, usually expressed as a percentage of the original loan charged annually. Remember, credit cards are a type of loan. An example sentence is, "The interest rate on my bank's credit card is very good."

One type of interest rate is the annual percentage rate commonly known as the APR or APY. The definition is a calculation of the overall cost of your loan. It is expressed as an annual rate that represents the actual yearly cost of the funds borrowed. It takes into account all the costs during the term of the loan, including any set of charges and the interest rate. We could say, "The APR on my credit card is incredibly high. I need a balance transfer to a new card to save money."

We also have the term introductory APR. introductory APR. And this is a lower interest rate offered on a new credit card, usually during the first 6 months. After the introductory period, the interest rate increases. An example sentence is "I was offered a very good introductory APR on this new credit card."

We also have a type of interest rate called a fixed rate. Fixed rate. This is described as an interest rate that does not vary during the life of a loan. Let's take a look at our example sentence. "The fixed rate of interest on my credit card will expire at the end of the month."

Let's move on to our next term which is prime rate. Prime rate. This is defined as the rate of interest that banks charge their most favored customers, usually around 3%. "My bank must think I am a good customer because they offered me the prime rate on a new credit card."

Another type of interest rate is a variable rate. Variable rate. This is an interest rate that changes based on the moves of another rate index, usually the prime rate. We could say, "My credit card comes with a variable rate."

Our next English word is the verb to default. Default. The definition is the failure to pay a debt. Our example sentence is "I defaulted on my credit card payments and now I am in some financial trouble." And you know if you are experiencing difficulty with credit card debt, please seek advice from a professional and trusted debt advice organization. Lots of governments around the world offer services to assist people in financial trouble. It can also be a good idea to talk to your bank.

Our next term is default rate. Default rate. This is defined as a particular interest rate charged when a consumer defaults on a credit agreement. Usually much higher than the normal rate. Our example sentence is "the default rate on my credit card is very high."

Next up, we have minimum monthly payment. Minimum monthly payment. And this is the smallest amount of money a borrower can pay monthly towards their credit card, usually 2% of the balance. We could say, "My minimum monthly payment is quite high."

[Music] If this is the first time you're visiting my channel, Learning English Pro, you're very welcome. My name is J and I'm narrating your lesson today. Make sure to subscribe to get updated on all my latest videos.

Our next term is late fee. Repeat after me, late fee. And our definition is a fee charged for paying the minimum balance of a credit card after the due date. Our example sentence is "I forgot to pay my credit card bill and I got a late fee."

Let's move on to our next term which is grace period. Grace period. This is defined as a period of time when no interest is charged on a credit card. Our example sentence is "with my new credit card I have a grace period of 6 months."

Next up we have billing cycle. Billing cycle. A billing cycle is the amount of time between the last statement closing date and the next. Billing cycles must be at least 21 days. We could say "the billing cycle for my credit card seems to come around very quickly."

Next up, we have the term cash advance. Repeat after me. Cash advance. When you withdraw money from your credit card account, it is known as a cash advance. Card issuers typically limit the amount of money you can withdraw to a portion of your total credit limit and charge high interest rates and fees on the withdrawal, making cash advances costly. "I used my credit card at the ATM and got a cash advance."

And that brings us to the end of our lesson on credit card English vocabulary. In this video, you will learn about different types of insurance in English. Okay, it's time to begin our lesson. And first up, let's ask what is insurance or how do we define insurance? We could say insurance is a way to protect oneself or an organization from financial loss. We could also say that insurance is a type of risk management. Insurance is generally provided by an insurance company or an insurance broker. And we could call either of these types of entities an insurer.

One of the first types of insurance many people get is car insurance. This can also be called motor insurance. In American English, it can be referred to sometimes as vehicle insurance. Another common type of insurance is medical insurance. There are a few synonyms for medical insurance like health insurance. It can simply be called health care or a health plan. Another popular type of medical insurance is dental insurance. Sometimes this will be covered under a healthcare plan.

Okay, let's move on to a different type of insurance, home insurance. This may also be called property insurance. Home or property insurance generally covers costs relating to fire, theft, and costs incurred by weather damage. There are also many subtypes of property insurance such as boiler insurance, earthquake insurance, flood insurance. There is also landlord insurance and renters insurance. And we have windstorm insurance which covers damage from hurricanes and tornadoes.

Another way to protect your home if you have a mortgage is mortgage protection. This type of insurance is designed to pay off your mortgage if you were to pass away. And some mortgage protection policies will cover mortgage payments if you become disabled or sick. A very important insurance for a lot of people is pet insurance. This type of insurance policy is purchased by pet owners to offset the overall cost of their animals medical bills.

Let's move on to a different type of insurance, income protection. Income protection insurance pays part of your lost income if you're unable to work because of disability caused by an illness or injury. A subtype of income protection is disability insurance or long-term disability insurance. Our next type of insurance is liability insurance. This term refers to an insurance product that provides an insured party with protection against claims resulting from injuries and damage to other people or property. A common type of liability insurance is public liability. This covers the cost of claims made by members of the public for incidents that occur in connection with business activities. Professional liability insurance is insurance that protects professionals such as accountants, lawyers, and physicians against negligence and other claims initiated by their clients.

Up next, we have life insurance. This type of insurance generally provides an income to an insured person's family upon their death. Funds can be used for burial, funeral, and other final expenses. And that brings us to the end of this English lesson on types of insurance. Don't forget about [Music] [Applause]

Hello there English learners. Welcome back to Learning English Pro. Today we're diving into an essential topic for anyone planning to rent in the USA. Renting a place can be exciting and sometimes a challenging experience, especially when it comes to understanding the terminology. In this video, we'll explore 15 key terms and words that will help you navigate the rental process with confidence. So, let's get started.

And first up, we have the lease agreement. This is a legal document that outlines the terms and conditions of the rental arrangement between you and your landlord. It includes details such as the rent amount, lease duration, and the rules for the property. Next, we have the security deposit. This is a sum of money you pay upfront to the landlord as a security against any potential damages to the property. It's refundable at the end of your lease if the property is in good condition.

When you're interested in a rental, you'll likely need to fill out a rental application. This form provides information about you, your income, and references which helps the landlord assess your eligibility as a tenant. Utilities are essential services like water, electricity, and gas. It's important to clarify whether these are included in your rent or if you'll be responsible for paying for them separately.

A tenant is the person who rents and occupies the property. That's you. Remember, as a tenant, you have rights and responsibilities outlined in the lease agreement. Your landlord is the property owner who is renting out the place to you. They're responsible for maintaining the property and addressing any issues that arise during your lease. The rent due date is the day each month when your rent payment is due. Make sure to pay on time to maintain a good relationship with your landlord.

If something in your rental needs fixing, you can submit a maintenance request to your landlord and they'll arrange for repairs to be made. Subletting is when a tenant rents out their rented space to another person. However, this usually requires permission from the landlord. Eviction is the legal process of removing a tenant from a property. It usually happens when a tenant doesn't follow the terms of the lease.

When you move into a new place, it's wise to conduct a move-in inspection. This involves noting down any existing damages or issues in the property to avoid disputes later. As your lease term ends, you might have the option for a lease renewal. This allows you to extend your lease for another period, often with updated terms. Before bringing a furry friend along, check the pet policy. This outlines whether pets are allowed, any restrictions, and potential fees. The term amenities describes extra features or facilities that a rental property might offer, such as a gym, a pool, or a laundry room. Last but not least, consider getting renter's insurance. This coverage protects your personal belongings in case of theft, damage, or other unexpected events.

[Music] So, there you have it. These are some of the key terms and words that will be incredibly useful as you navigate the world of renting in the USA. Remember, these terms will help you communicate effectively with landlords and make informed decisions.

English Pro. Today we're delving into the world of investments where we will break down different types of investments and explore the relevant vocabulary associated with each. And let's begin with stock market investments. A stock market in brief is a centralized marketplace where stocks are bought and sold by investors. Stocks, also known as equities or shares, represent ownership in a corporation or company. When you own a stock, you essentially own a portion of that company. Companies issue stocks to raise capital for various purposes such as expanding their operations, investing in new projects, or reducing debt. Dividends are payments made by a corporation to its shareholders out of its profits or retained earnings. These payments are typically distributed regularly, often on a quarterly basis as a way for the company to share its financial success with its investors. And a portfolio is the collection of stocks and securities owned by an investor.

Let's move on to bond investments which are known for their stability. Here are some relevant terms. Bonds are debt securities. This is where an investor loans money to an entity in exchange for periodic interest payments and the return of the bond's face value at maturity. The coupon rate is the interest rate that a bond pays annually. And the maturity date is the date when a bond's principal is due to be repaid.

Now let's take a look at a category that encompasses both stocks and bonds. Securities. These are financial instruments representing ownership or financial interests in various entities. They play a crucial role in investment markets offering a wide range of opportunities for investors. Real estate investments involve properties where you buy properties in order to generate additional income or capital. The term real estate means land and any property attached to it. A common way to gain income from real estate investments is rental income. This is money earned by leasing or renting out your investment properties. Property management is an important aspect of real estate investment and it relates to the administration, operation and oversight of real estate properties on behalf of property owners or investors. It involves a wide range of responsibilities aimed at maintaining and maximizing the value of real estate assets.

Let's move on to mutual funds. Mutual funds pool money from various investors to buy a diversified portfolio. Key terms include NAV or net asset value. This is the per share market value of a mutual fund. The expense ratio is the cost of managing a mutual fund expressed as a percentage of assets under management. In relation to investments, diversification means spreading investments across various assets to reduce your risk.

Our fifth type of investment is commodities investment. Commodities are tangible goods that can be bought or sold. Here are some terms related to this type of investments. Which goods can we consider commodities? Well, commodities can be raw materials or primary agricultural products that can be bought and sold such as gold, oil, wheat, art, wine, you name it. There are lots of different types of commodities in that market. An essential term of the commodities investments market is future contracts. These are agreements to buy or sell a commodity at a specified future date and price. And the spot price is the current market price for immediate delivery of a commodity.

An investment type which is always a hot topic is cryptocurrency investments. These are digital or virtual currencies that use cryptography for security. Here are some essential terms. Bitcoin was the very first cryptocurrency and it is the most well-known, often referred to as digital gold. A crucial term for understanding cryptocurrency is the blockchain. This is a distributed ledger technology that underlies most cryptocurrencies. And if you have cryptocurrency, you're going to need a wallet. This is a digital tool for storing, sending, and receiving cryptocurrencies.

Moving along to private equity investments. Private equity involves investing in privately held companies and the investment management company that invests in private companies is known as a private equity firm. Venture capital is the funding provided to startup and small businesses in exchange for equity. And if you remember from earlier, an equity equals the share in the company. A leveraged buyout or an LBO is the acquisition of a company using a significant amount of borrowed funds.

Our final investment type is a hedge fund investment. Hedge funds are investment funds that employ various strategies to generate returns. Alpha is a measure of an investment's return relative to its risk. Short selling is the practice of selling borrowed assets with the hope of buying them back at a lower price. Our final term is high-frequency trading or HFT. This is a trading strategy that uses advanced algorithms for rapid buying and selling of assets. And that concludes our exploration of investment vocabulary.

Hello and welcome back to Learning English Pro. In this lesson, we're going to take a look at vocabulary and terminology relating to economics. You'll learn 15 fundamental economic terms that will help you grasp the complexities of the financial world. And our first term is supply and demand. These are fundamental forces that dictate the prices of goods and services in a market. Supply refers to the quantity available while demand represents how much people want it. Prices rise when demand exceeds supply and prices fall when supply exceeds demand.

Let's move on to our next term, inflation. Inflation is the increase in the general price level of goods and services over time resulting in the loss of purchasing power for a currency. It's measured by the consumer price index or the CPI, which we'll get into later. The opposite of inflation is deflation. This is where prices decrease over time. It can lead to reduced consumer spending and economic stagnation.

Gross domestic product or GDP measures the economic performance of a country. It's the total value of all goods and services produced within a nation's borders in a given time period. A related term is GDP per capita. This is the average income of a country's citizens and is calculated by dividing the GDP by the population. It reflects the standard of living in a nation.

Let's move on to our next term, fiscal policy. This involves government actions concerning taxation and expenditure to influence the economy. Governments use fiscal policy to stabilize economic growth, control inflation, and reduce unemployment. Another type of policy you may hear about in economics is monetary policy. This is the management of the money supply and interest rates by a central bank. It plays a crucial role in controlling inflation and maintaining economic stability.

[Music] A recession is a significant decline in economic activity, often marked by reduced consumer spending, business investments, and high unemployment rates. A budget deficit happens when a government spends more money than it collects in taxes. It's usually funded by borrowing, leading to national debt. A trade balance refers to the difference between a country's exports and imports. A trade surplus happens when a country exports more than it imports. While a trade deficit is the opposite.

Let's move on to look at different types of economies. A market economy is where prices are determined by supply and demand and private individuals and businesses make most of the economic decisions. A mixed economy combines elements of both free market capitalism and government intervention. Governments regulate certain industries and provide essential services. Our next term is opportunity cost. This is the value of the next best alternative that must be forgone when a decision is made to allocate resources to one option instead of another. The consumer price index or CPI measures changes in the cost of a basket of goods and services over time. It's used to gauge inflation and cost of living adjustments.

[Music] Our final term is entrepreneurship. This involves identifying business opportunities, organizing resources, and taking risks to create and operate successful enterprises.

[Music] English Pro. Today we're diving into the world of stock market investments and expanding your financial vocabulary. So whether you're an aspiring investor or simply curious about the stock market, this video is for you. Let's cover the basics. Stock markets are essential platforms where investors buy and sell ownership in companies. They help businesses raise capital, provide liquidity for investors, and set stock prices based on supply and demand. These markets offer diverse investment opportunities and act as economic indicators. Examples of stock exchanges include the New York Stock Exchange, the NASDAQ, the London Stock Exchange, and Tokyo Stock Exchange.

Another fundamental term of stock market investments is shares, also known as stocks. These are units of ownership in a company. When you own shares of a company's stock, you own a portion of that company and your ownership entitles you to a share of its profits and a say in certain corporate decisions. If you own shares or stocks in a company, you are known as a shareholder in that company. Dividends are payments made by a company to its shareholders as a reward for owning its stock. These payments come from the company's profits and are typically distributed regularly, providing shareholders with a portion of the company's earnings.

Our next term is bull market. A bull market is a period in the financial markets characterized by rising stock prices, optimism amongst investors, and overall confidence in the economy. It's a time when investments tend to perform well, and there is a general belief that the upward trend will continue.

[Music] The opposite of a bull market is a bear market. It's a period in the financial markets characterized by declining stock prices, pessimism amongst investors, and a lack of confidence in the economy. During a bear market, investments tend to not perform very well, and there is a belief that the downward trend will continue. Let's move on to portfolio. This is a collection of investments such as stocks, bonds, and other assets held by an individual or entity to achieve diversification and manage risk in their overall investment strategy.

[Music] Portfolio diversification involves spreading your investments across different asset classes such as stocks, bonds, and real estate to reduce risk as different types of investments may perform differently under various economic conditions, ultimately helping to achieve a more balanced and stable investment strategy. Stocks analysis is the process of evaluating stocks for investment, often using fundamental and technical analysis. Let's take a look at some of the ways stocks are valued. First up, we have the PE ratio. This is price-to-earnings ratio. This valuation metric is calculated by dividing a stock's price by its earnings per share. Another analysis metric is market capitalization. When you multiply the stock price by the number of shares, you get the total value of a company's outstanding shares of stock.

[Music] Next up, we have some trading terminology. Blue chip stocks are stocks of well-established companies with a history of stable performance. Day trading is the practice of buying and selling stocks within the same trading day. Let's move on to our next term which is bid and ask prices. The bid price is the maximum price a buyer is willing to pay for a stock while the ask price is the minimum price a seller is willing to accept. The difference between them is known as the bid-ask spread. The term volume refers to the total number of shares traded in a specific stock or the entire market within a given time frame. It can indicate the level of interest and liquidity in a stock.

A market order is an instruction to buy or sell a stock immediately at the current market price. It guarantees execution but may not guarantee a specific price. [Music] A limit order is an order to buy or sell a stock at a specific price or better. It ensures a specific price but does not guarantee execution if the market price doesn't reach the limit price. A stop-loss order is a predefined price level at which a stock is automatically sold to limit potential losses. It's a risk management tool used by traders.

When it comes to the stock market, there are two different types of investors. A retail investor is an investor who buys and sells stocks for personal portfolios. While institutional investors are usually large organizations like mutual funds or pension funds that invest on behalf of others. And that wraps up our vocabulary lesson on the stock market. I hope you found it interesting. We've covered some essential terms to help you navigate this dynamic financial world with confidence.

Today, we've got an essential vocabulary lesson on real estate. So, if you're ready, let's dive in. Our first term for our real estate vocabulary is property. Property refers to physical assets such as land, buildings, and everything permanently attached to them. These can include residential homes, commercial spaces, and even undeveloped land. Understanding the concept of property is fundamental to navigating the real estate world.

A mortgage is a financial arrangement where a lender provides you with the necessary funds to purchase a property and you repay this loan over time with interest. It's a significant part of the home buying process and involves understanding terms like interest rates, down payments, and loan duration. Next up, we have the term landlord or landlady. Landlady really isn't used that much anymore. Landlord is a common term that you can use for both genders. The landlord is the individual or entity who owns the property you are renting or leasing. They are responsible for maintaining the property and ensuring your compliance with the lease agreement. Knowing the rights and responsibilities of both landlords and tenants is crucial for a smooth renting experience.

And let's check out this term tenant. As a tenant, you are the renter or occupant of a property owned by a landlord. Tenants pay rent to landlords in exchange for the use of the property. An important term in real estate is lease. A lease is a legally binding contract that outlines the terms and conditions of your tenancy. It specifies the duration of your stay, rent payments, and any rules or regulations you must follow while living in the rented property. Leases can vary in length and complexity. So, it's important to thoroughly read and understand the terms before signing.

Residential properties are real estate assets designed for living, such as houses, apartments, and condominiums. While commercial property refers to real estate specifically used for business or income-generating purposes. This category includes properties like office buildings, retail spaces, industrial facilities, and warehouses. Let's move on to investment property. These are real estate assets purchased with the intention of generating income or making a profit. These can include rental properties, commercial real estate, or properties bought for future resale. Knowledge of investment property strategies is essential for real estate investors and real estate agents. A real estate agent is a professional who assists individuals in buying or selling property. They have a deep knowledge of the local real estate market and their expertise is invaluable when navigating the complexities of real estate transactions.

An appraisal is a professional assessment of a property's value. It is often conducted when buying or refinancing a property. An appraisal is often carried out by a real estate agent. Let's move along to our next term, foreclosure. Foreclosures happen when a property is repossessed by the lender due to the borrower's failure to make mortgage payments. It is a legal process that can result in the property being sold at auction. We are working our way through the word list, but don't forget I have a wide range of videos covering different types of property investments available on my channel page and I have some of them linked in the video description below. Make sure to check them out.

[Music] Let's move on to the term equity. This is the difference between the current market value of a property and the outstanding balance of the mortgage. It represents the homeowner's ownership stake in the property and can increase over time as the mortgage is paid down and the property's value appreciates.

[Music] Closing costs are the expenses associated with finalizing a real estate transaction. They include fees for services like title searches, appraisals, and legal services. Buyers and sellers need to be aware of these costs as they can significantly affect the overall cost of a real estate transaction. A title is a legal document that proves ownership of a property. It includes details about the property's history, any liens, and the current owner. Ensuring the title is in order is essential to avoid potential legal disputes when buying or selling real estate. In British English, a title would be called a deed.

The down payment is the initial payment made by the buyer when purchasing a property. It's typically expressed as a percentage of the property's purchase price. Once the down payment is paid, the house or property is secured for the buyer. A home inspection is a thorough examination of a property's condition, usually conducted by a licensed inspector. It helps buyers identify any potential issues or needed repairs before finalizing a purchase. A quality home inspection can save buyers from unexpected costs and problems.

[Music] Today, we're diving into the world of mortgages and exploring some essential mortgage terms. Whether you're a first-time home buyer or simply looking to understand the process better, this video is for you. Our first term is the subject of our video, mortgage. A mortgage is a legal agreement between a borrower and a lender, typically a bank, that allows the borrower to obtain funds to purchase a home. The property itself serves as collateral for the loan, and the borrower makes regular payments, including principal and interest, until the loan is paid off.

Next up, we have principal. The principal is the initial amount borrowed in a mortgage. It's the base amount on which interest is calculated. Over time, as you make payments, the principal balance decreases. Moving on to interest rates. This is the cost of borrowing money expressed as a percentage. It determines how much you'll pay in interest over the life of your mortgage. Interest rates can be fixed or adjustable. A fixed-rate mortgage has a consistent interest rate throughout the life of the loan. It offers stability and predictable monthly

payments.

On the other hand, an adjustable rate mortgage or a variable rate mortgage has an interest rate that may change periodically. It often starts with a lower rate but can increase over time.

The fixed rate period in an adjustable rate mortgage is the initial period during which the interest rate remains fixed before it begins to adjust periodically.

Let's move on to down payment. The down payment is the initial amount paid by the home buyer when purchasing a property. It's typically a percentage of the home's purchase price, and a larger down payment often leads to more favorable mortgage terms.

Our next term is amortization. It's the process of paying off your mortgage over time through regular payments, which include both principal and interest. Over the life of the loan, the proportion of principal and interest in each payment changes.

Let's discuss escrow. An escrow account is set up to hold funds for property taxes and insurance. Part of your monthly mortgage payment goes into this account to ensure these expenses are paid when due.

Next up, closing costs. These are fees and expenses associated with finalizing a mortgage and the purchase of a home. Closing costs include charges for services such as appraisal, title search, and legal fees.

If you're interested in learning lots more related English vocabulary, check the links on screen and in my video description. On my channel, I have lots of English vocabulary videos relating to banking, finance, investments, real estate, and lots more. Let's get back to our lesson.

And our next term is pre-approval. This is a crucial step in the home buying process. It is a preliminary assessment by the lender that determines how much you can borrow. This helps you understand your budget and increases your chances when buying a new home.

PMI or private mortgage insurance is insurance that lenders require from borrowers who make a down payment of less than 20%. It protects the lender in case the borrower defaults on the loan.

Refinance refers to the process of obtaining a new mortgage to replace an existing one. It's often done to secure a better interest rate or to change the terms of the loan.

Our next term is equity. Your equity is the portion of your home's value that you own outright. It's the difference between the home's current market value and the outstanding balance on your mortgage.

An appraisal is a professional assessment of a property's value. It's often required by lenders to ensure the property's worth is sufficient to cover the loan amount.

Foreclosure is a legal process in which a lender takes possession of a property due to the borrower's failure to meet their mortgage obligations. It typically leads to the sale of the property to recover the loan amount.

Our next term is closing disclosure. This is a document provided to the borrower at least 3 days before the mortgage closing. It outlines the final terms and costs of the loan, ensuring transparency in the transaction.

Title insurance is a policy that protects the homeowner and the lender from financial loss due to disputes or defects in the property's title. It ensures that the property has a clear and marketable title.

The mortgage origination fee is a charge imposed by the lender to cover the cost of processing and underwriting the loan. It's typically a percentage of the loan amount.

A home equity line of credit is a type of loan that allows homeowners to borrow against the equity in their home. It provides a flexible source of funds that can be drawn upon as needed.

Understanding these mortgage terms is crucial for making informed decisions when buying a home.

In today's lesson, we'll be diving into a topic that's essential for many of us, buying a car. Whether you're a beginner or looking to enhance your English, this lesson will equip you with the necessary vocabulary and phrases for this important activity. Let's begin with some essential car buying vocabulary. Remember, you can always pause and rewind the video to practice these words and phrases.

Let's look firstly at different types of cars which people commonly buy.

This is a sedan. A sedan is a four-door passenger car with a trunk or boot that is separate from the passenger's compartment.

Our next car type is an SUV. SUV stands for sports utility vehicle. It refers to a type of car that sits high off the ground and which often has four-wheel drive and rugged styling.

A convertible is a passenger car that can be driven with or without a roof in place. The methods of retracting and storing the roof vary among eras and manufacturers.

A hatchback is a type of car with a rear door that swings upwards. This provides access to a cargo area in the main interior of the car rather than a separated trunk like a sedan.

And next up, we have a pickup truck or simply known as a pickup. This is a light duty truck that has an enclosed cabin. And it also has a back end made of a cargo bed that is enclosed by three low walls with no roof.

Let's move on to take a look at some words relating to car parts. The heart of the car is the engine. This is the part that converts the energy of the fuel into mechanical energy and produces the power which makes the car move forward or backwards.

In a car, a transmission or a gearbox acts as the medium that transmits power generated by the engine to the wheels via a mechanical system of gears and gear trains.

A brake is the mechanical device in a car that stops motion by absorbing energy from a moving system.

The steering wheel is the wheel that a driver rotates in order to steer or drive a car. The steering wheel is connected to the dashboard.

The dashboard in a car is the panel facing the driver's seat where most of the instruments, switches, and information are. A car dashboard monitors vehicle speed, engine speed, and engine temperature.

A car's tires can be an important consideration when purchasing. This is the rubber covering placed around a wheel to form a soft contact with the road. This word has different spellings in American and British English, which you can see on screen right now.

Let's move on and take a look at some of the documents you may need when thinking about getting a new car. The car registration is an important document which registers your ownership of the car with your local government authority.

A car title includes official information about the vehicle and the owner. It differs from vehicle registration and proof of insurance as it's strictly proof of car ownership.

Car insurance covers damage to your vehicle and protects you financially if you're liable for someone else's injuries or damages. It can also pay for medical bills if you or your passengers are injured in an accident or if you're hit by a driver who is uninsured or underinsured.

A car loan is an agreement between you and a lender that says they will give you money to buy a car. In return, you'll pay them back with interest in an agreed upon period of time.

If you're thinking of buying a car, the place that you go is called a car dealership, and the person that you buy the car from is called a car dealer.

Different countries have different rules, but in lots of places, you can buy a car secondhand. This is where it has been previously owned by someone else and they will sell it to you at a discounted price. This is usually done online or through local newspapers and advertisements.

Wherever you go, you're going to need some handy English phrases to get your dream car. So, let's take a look at some now.

Something you would say to start the conversation with the car dealer is, "I'm in the market for a new car." Repeat the phrase after me. I'm in the market for a new car.

If you see a car that you like and you want to know how much it is, you would say, "What's the asking price?" What's the asking price?

When you're buying a new car, you can get the permission of the car dealership to take it for a test drive. To do this, you would simply say, "Can I take it for a test drive, please?" "Can I take it for a test drive, please?"

If you need a loan to purchase your car, you can ask the car dealership. Do you offer financing? Do you offer financing?

Lots of new cars and sometimes secondhand cars will come with a guarantee. This means that if anything goes wrong with the car within a certain period of time, the car dealership will repair or replace the parts. If you want to check if your car comes with this, you could ask, "Is there a warranty?" Is there a warranty?

So, you see a car that you like and you want to know more about it. What could you ask the dealer? Hi, I'm interested in the sedan over there. Can you tell me more about it? Listen and repeat after me. Hi, I'm interested in the sedan over there. Can you tell me more about it?

So, you found the car that you like, but the price is a little high. If we want the car for a cheaper price, how may we approach this with the car dealer? We could say, "The price seems a bit high. Is there any room for negotiation?" The price seems a bit high. Is there any room for negotiation?

Before we wrap up, here are some important tips when buying a car. Number one, research. Always research the make and the model of the car you want.

A budget is really important when coming to buying a car. So, it's important to set a budget, a limit on what you want to spend, and stick to that.

If you find a car that you really like, make sure to check its vehicle history. This is an important check on the car's history report. It can tell you things about the car that may change your mind about buying it.

When it comes to buying a secondhand car, it's important to get an inspection. This is having a trusted mechanic check over the car to make sure everything is okay.

To guarantee a smooth sale, ensure all the documents we've discussed in this lesson are in order.

And that's it for today's lesson on buying a car and essential vocabulary and phrases. I hope you found it helpful.

In this English lesson, we'll be taking a look at some intermediate banking terms. These terms are a little bit more advanced, but I will break them down for you in the following ways. For each of the 15 banking terms you'll learn today, we'll cover pronunciation, definitions, and example sentences. So, with all of that business out of the way, let's begin our lesson on banking terms.

Our first term is mortgage. Now, this word has a silent T, which I've highlighted in the word. Let's check our pronunciation. Mortgage. A mortgage is like a long-term loan, specifically for buying property. When you get a mortgage, the bank lends you the money to buy a house or apartment, and you agree to pay it back over many years, often 15 to 30. The property itself serves as security for the loan, which means if you can't make the payments, the bank could take the property back. Let's move on and take a look at our example sentence. After years of saving for a down payment, we're finally applying for a mortgage to buy our dream home.

Our second term is equity. Repeat after me. Equity. Think of equity as your piece of a financial pie. For example, if you own a house, the equity is the part of the house's value that you actually own. It's the difference between the value of the property and what you still owe on any mortgages. Equity can also refer to ownership in a company through stocks. Let's move on and take a look at our example sentence. I've been paying the mortgage for 10 years, so I've built up considerable equity in my house.

Our next term is collateral. Repeat after me. Collateral. Collateral is something valuable that you promise to give your lender if you can't pay back a loan. It's like saying, "If I can't pay you back in cash, you can take this item instead." Common examples of collateral include houses, cars, or other valuable assets. It gives the lender assurance that they will recover their money one way or another. So, let's take this word collateral and use it in an example sentence. To secure the loan for my business, I offered my vintage car as collateral.

Our fourth banking term is asset management. Let's make sure we have the pronunciation perfect. Asset management. Asset management is all about a professional managing your money and investments. Think of an asset manager as a financial chef. They take your ingredients like savings, stocks, and bonds and cook up a plan to help your wealth grow over time, keeping in mind your financial goals and risk tolerance. Since I'm not an expert in stocks and bonds, I rely on asset management services to handle my investment portfolio. We'll cover this term portfolio later in the lesson.

Let's move on to diversification. Repeat after me, diversification. Let's try it one more time. Diversification. Diversification in banking is like not putting all your eggs in one basket. It's spreading your investments across different types of assets, stocks, bonds, real estate, etc. to reduce risk. If one investment performs poorly, others might do well and balance things out. Our example sentence is my financial advisor suggested diversification of my investments to protect against market swings.

Our sixth term is liability. Repeat after me. Liability. In banking, a liability is essentially any money you owe. This could be a loan, mortgage, or even money you've promised to pay in the future. It's an obligation you're legally required to fulfill. Understanding your liabilities is crucial for managing your financial health. Right now, paying off my credit card debt is my main financial liability.

Our seventh banking term is credit rating. Repeat after me. Credit rating. Your credit rating is a score that tells lenders how good you are at paying back money you've borrowed. It's like a report card for your finances. A high credit rating means you're a low-risk borrower, which can help you get loans with better interest rates. On the other hand, a low credit rating can make borrowing more expensive or even impossible. Let's check out our example sentence. I'm working to improve my credit rating by paying bills on time and reducing my debt.

Let's check out the pronunciation of our next term, principal. Principle. In the context of banking, the principal is the original sum of money borrowed in a loan or the amount of the investment. It doesn't include the interest or additional fees. So when you start repaying a loan, part of your payments go towards reducing the principal and part go towards the interest. Over time, as I keep making payments on my car loan, the principal amount decreases.

Our ninth term is annual percentage rate, often referred to as APR. So we have annual percentage rate or APR. APR is like the true cost of borrowing money expressed as a yearly interest rate. It includes not just the interest rate but also any additional fees or charges associated with the loan. So it's a more complete picture of what you'll actually pay. When comparing loan offers, I always check the APR to understand the full cost of borrowing.

Another important banking term is compound interest. Repeat after me, compound interest. Compound interest is when you earn interest not just on your initial investment or principle, but also on the interest that has been added to it over time. It's like your savings growing exponentially because the interest you earn each year also starts earning interest. Thanks to compound interest, my savings account balance has grown more than I had initially calculated.

Let's move on to our next term which is liquid assets. Repeat after me. Liquid assets. Liquid assets are things you own that can be quickly and easily turned into cash without losing value. This includes things like money in savings accounts or stocks that can be sold on short notice. They're called liquid because they can flow easily into cash. I always keep a portion of my investments in liquid assets for emergencies.

Next up, we're going to look at two different types of interest rate. First up, we have fixed interest rate. Repeat after me. Fixed interest rate. A fixed interest rate means the interest rate on your loan or savings account won't change over a set period. It's predictable, like a fixed menu in a restaurant. You know exactly what you're getting and what it will cost you with no surprises. Our example sentence is, I chose a loan with a fixed interest rate, so my monthly repayments will stay the same.

The other type of interest rate is a variable interest rate. Repeat after me. Variable interest rate. In contrast to the fixed interest rate, a variable interest rate can change over time based on the market or an index. It's a bit like the weather. Sometimes it's sunny, rates go down, and sometimes it's rainy, rates go up. This can affect your loan payments or savings earnings. My mortgage has a variable interest rate, so my payments might fluctuate over the years.

Our penultimate banking term is bankruptcy. Let's check our pronunciation one more time. Bankruptcy. Bankruptcy is a legal process where people or businesses that can't pay their debts get a fresh start. The process involves legally declaring the inability to pay off debts. While it can relieve debt pressure, it also impacts credit ratings and the ability to borrow in the future. Let's use bankruptcy in an example sentence. The company filed for bankruptcy after failing to recover from its financial losses.

Our final banking term is portfolio. Repeat after me, portfolio. Your portfolio is the collection of all your investments like stocks, bonds, real estate, etc. A well diversified portfolio is key to managing risk and achieving your financial goals. Let's check out our final example sentence. My financial advisor helps me manage my investment portfolio to ensure it aligns with my long-term goals.

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