Exam: BEC Vantage

Definition: Relating to the process of taking back property, such as a car, from someone who has failed to make payments.

Example: The repo agent arrived to collect the car after the owner missed several payments.

Definition: A short form for a repurchase agreement, which is a deal where one party sells an asset and agrees to buy it back later, or it can refer to items that have been repossessed due to non-payment.

Example: The bank sold the repo at a lower price to recover some of its losses.

Definition: The action of moving something to a different place or position.

Example: The reposition of the furniture made the room feel more spacious.

Definition: To place something in a different position or location; to change its position.

Example: The company decided to reposition its brand to attract a younger audience.

Definition: To change the price of something, usually to make it higher or lower.

Example: The store decided to reprice the items after the sale to attract more customers.

Definition: The methods and tools used to make copies of documents or images, often involving printing or scanning.

Example: The company invested in new reprographics technology to improve their document production.

Definition: The act of buying something again that you have sold or owned before.

Example: After selling his old car, he decided to make a repurchase of it when he had enough money.

Definition: To buy something again after having previously purchased it.

Example: After realizing he needed a new phone, he decided to repurchase the same model he had before.

Definition: A thing that someone asks for or the action of asking for something.

Example: She made a request for more information about the project.

Definition: To ask someone to do something or to express a desire for something.

Example: She requested a copy of the report from her manager.

Definition: A person or entity that asks for something, often formally or officially.

Example: The requester submitted a form to obtain the necessary documents.

Definition: A person who needs something or asks for something to be provided.

Example: The requirer submitted a request for additional resources.

Definition: A formal written request for something that is needed or required.

Example: The company submitted a requisition for new office supplies.

Definition: To formally request or demand something, often for official or military purposes.

Example: The army had to requisition supplies for the upcoming mission.

Definition: Able to be sold again or to someone else.

Example: The store offers a guarantee that all returned items are resalable.