NEW FEDERALISM
Under the Nixon administration, this new plan transferred back to the state level some powers previously held by the federal government. Some powers were removed from the state level under Franklin Roosevelt’s
Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.
Under the Nixon administration, this new plan transferred back to the state level some powers previously held by the federal government. Some powers were removed from the state level under Franklin Roosevelt’s
The insured must notify the insurer about a newly purchased vehicle within 30 days from purchase date. Some coverage automatically activates under the policy for vehicles purchased during the term of the
The Financial Accounting Standards Board (FASB) and the Government Accounting Standards Board (GASB) regulate these standards.
Natural process that takes free nitrogen (N2) from the air, converts or fixes it in nitrogen compounds that plants use as nutrients, as in fertilizer. In nature, certain bacteria present in the
Opposite of having privilege. A right is not exercisable under this condition or state.
An investment or debt instrument’s stated annual interest rate. Does not include a compounding component and is not adjusted even if the return is paid monthly, semiannually or annually. Also known as
When upward and downward price movement are not equal.
When the bid and offer come from the same source.
An excess of options that disrupt liquidity.
Any transaction that doesnt take place in person.
An option whose payment depends on the ending market price of an asset. There are many types of this option. Refer to path dependent option.
The risk that occurs when a large option trades near strike price at its maturity. Whether above or below the strike price it changes the hedge.
How a portfolio is managed. Risk and returns are measured to create diversification strategies.
Funding arranged before loss is incured. It is less expensive than post loss financing because the capital is there when its needed. Refer loss financing.
A debt not registered with the securities regulator. It is sold on a ceveat emptor basis to only experienced investors. It is illiquid and only transfers to a short list of buyers.
A swap transaction that allows an insurer to diversify their portfolio by exchanging uncorrelated catastrophic hazards. Refer to catastrophe reinsurance swap.
A company’s ability to use its near cash and quick assets to absorb liabilities.
Whan an option writer sells both naked and covered options. They are sold in specific amounts and ratios. This is safer than a pure naked option position.
A licensed insurer who makes accounts available to companies who prefer self insurance. Refer to agency captive, captive, group captive, protected cell company, pure captive, senior captive, and sister captive.
The legal review focusing on the board of directors actions just prior to the financial difficulties that is performed by external parties as a result of a declaration of bankruptcy.