Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance

NUMERICAL RATING

The determination of the policy rate for the insured who falls below standards. A value of 100 is assigned to an insured who meets standards stated on the policy. Depending on impairments

OBJECT ORIENTED PROGRAMMING (OOP)

a programming ideology that views programs as a combination of objects, which are capable of exchanging information between one another, and can be easily combined to form modules or blocks. An object

OCCUPATIONAL OUTLOOK HANDBOOK

A guide that is updated annually with regards to providing information on the different job types. It is released by the Labor Bureau of Labor Statistics department of the US government. It

OFF PREMISES

A percentage of the total coverage amount that is in effect at a location that is not covered in the details of the policy

OFFICE OF MANAGEMENT AND BUDGET (OMB)

A executive agency under the federal government that works closely with the President to provide recommendations with regards to budgetary matters such as the preparation of the budget that will be reviewed

OFFLINE

A computer that is not electronically connected to another computer or network even though the physical connection is still present. Offline work protects the manipulation of sensitive work by other users on

OFFSITE IMPROVEMENTS

Improvements such as sidewalks, utility lines and sewers that developed off site, that add value to the onsite improvements and thus the entire development.

OLIGOPOLISTIC

A commodity market controlled by a few producers, typically resulting in higher prices for consumers.

ON THE FACE

Immediately evident, based on superficial observation.

ONLINE ADVERTISING MEASURES

There are five basic measures for online marketing: 1. Number of unique visitors. 2. Number of visits to a particular website. 3. Number of page views (a website usually consists of multiple

OPARIN BUBBLE THEORY

The hypothesis, proposed by Aleksandr Oparin in 1924, that life originated spontaneously from non-living elements (e.g. methane, water vapor, hydrogen). Also known as abiogenesis theory.

OPEN DEBIT

A debit that does not have an agent at the moment.

OPEN STANDARD

A protocol that is governed by an organization anyone can join.

OPERATE

1. To run some part of machinery or a business. 2. To function properly. 3. To perform medical surgery.

OPPORTUNISM

Exploiting situations for personal gain, without considering others.

OPTION TO RENEW

In a contract, this clause allows the buyer, obligor or a lessee to renew a concluded contract for another term.

ORDER BOOK

When an initial public offering of shares is made, this is a list of investors who have subscribed to buy shares.

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