Category: Finance Dictionary

Tally time-bound or over a full life span for a good, service, structure, or system of all recurring and onetime costs Cost to buy, install, operate, maintain, upgrade, as well as residual

An entity holding a property as a life estate. Also known as tenant for life.

Consumer electronics and clothing manufacturing are examples of light industry. It is part of an economy’s secondary industry. It has less capital-intensive and more labor-intensive operations. End consumers rather than other businesses

Specific location or specific chain of stores scopes product sales.

A specific tax backs this type of municipal bond.

Repetitive manufacturing process with the same operations sequence each product passes through. The machines and peripheral equipment are in the order they are used. The process is not stopped and restarted for

In a surplus treaty a reinsurer agrees to accept this amount.

Investment instrument, stock, shares, bonds, officially quoted or listed for public trading on a stock exchange. In over the counter market in the US or in alternative investment market in the UK

Allows life insurance to have long-term care benefits. Stems from a mixture of life insurance and long-term care coverage. This practice reduces the value of the life insurance policy is less because

Delinquent borrower’s payoff routine worked out with a lender. Rescheduling the loan, having a longer payback period, having smaller installment amount are typical conditions. Staves off further delinquency and likely foreclosure.

Amount of control an entity believes it exerts over current and anticipated circumstances, as well as expected responses as behavior toward these circumstances.

Agreement to provide aid and extend trade and tariff preferences to 62 African, Caribbean, and Pacific (CAP) states by the European community, now the European Union. In 1975 the capital of Togo,

With the intention of holding purchase securities in anticipation of a price increase, an investor purchases or contracts to purchase commodities, financial instruments, and shares. An investor with a long position is

A contract to provide annual seniority-based employee compensation. Given as compensation for their service to top pay-scale employees.

Current year’s net loss offsets previous year’s taxable income as an accounting adjustment, giving a tax refund as already paid. US tax law allowance. Also refer to loss carryforward.

Loan payments a consumer cannot make and no longer recoverable are a loss amount. T

The ability an insurance company has to cover its loss with premiums.

Loans given to borrowers unable or unwilling to give a lender certain information or documentation. A variety of loan types are considered to be low documentation. Not everyone is eligible for this

Measuring a light source’s Intensity in a unit area. Also refer to illuminance.