Sector funds: A type of mutual fund that invests primarily in one specific industry, economic sector or geographic area.

Securities Investor Protection Corporation (SIPC): A nonprofit organization created by an act of Congress. SIPC provides funds for use, if necessary, to protect customers' cash and securities that are on deposit with a SIPC member firm in the event the firm fails and is liquidated. SIPC currently provides $500,000 in protection for investors' accounts. SIPC does not protect against market losses.

Self-administered living trust (SALT): A revocable living trust for which the grantor is the trustee and makes his or her own investment decisions.

Sell: To transfer ownership of an asset in exchange for money; an order to transfer ownership of an investment to someone else in exchange for money.

Sell short: The act of selling a borrowed stock with the understanding that you'll buy it back later (hopefully at a lower price) and return it.

Settlement date: The date by which either cash (for a buyer) or a security (for a seller) must be delivered to complete a securities transaction.

Share: A single unit of ownership in a company, mutual fund or limited partnership; often represented by a stock certificate that specifies the company, shareholder and number of shares.

Short: A net investment position in a security in which the security has been borrowed and sold but not yet replaced.

Small-cap funds: Stock mutual funds that invest primarily in stocks of small companies (as determined by market capitalization).

Specialist: A member of a securities exchange who is responsible for a given exchange-traded security. The specialist is the person who stands ready to buy and sell shares to maintain an orderly market. He or she is the one other exchange members go to when making stock transactions.

Standard & Poor's 500 Stock Index (S&P 500): A common index or benchmark used to determine the performance or stock price movements of the overall U.S. stock market. The index is made up of 500 stocks, including 400 industrials, 40 utilities, 20 transportation and 40 financial issues.

State municipal bond funds: Mutual funds that invest primarily in municipal bonds issued by one state. Income from these funds is federal-tax-free and sometimes state-tax-free as well.

Stock: A share of ownership in a company. Shareholders are entitled to a "share" in the profits of the company (paid in dividends). (See also common stock or preferred stock.)

Stock dividends: Dividends paid in additional shares of stock rather than cash.

Stock symbol: The unique identification symbol given to every corporation whose stock is traded on a stock exchange or the Nasdaq over-the-counter market.

Stop order: An order to buy or sell a stock when the stock's price reaches or exceeds a specified level.

Stop limit order: A combination of a limit order and stop order. It's a request to buy or sell a specific stock at the market price, but only when the stock reaches or exceeds a price that you specify (called the stop price). Once the stock price reaches your price specification, it becomes a limit order.

Street name: Securities registered in the name of the brokerage firm but credited to the account of a client. A security is held in street name to simplify trading because no certificate delivery or signature is required. In margin accounts, securities must be held in street name.

STRIPS: Zero coupon Treasury bonds issued by the United States at a discount from face value. Interest is paid as a lump sum at maturity.

Surrender charges: Fees for terminating a certificate of deposit (CD), insurance or annuity contract before maturity.

Surrender value or surrender benefit: The amount of cash paid by an insurance company to a policyholder who surrenders (or gives up) an insurance policy.