Category: L

Not a legal instrument. Information required by an executor to execute a will. Also refer to letter of wishes.

Universal life insurance option paying the policy’s face value or a specified accumulation value percentage upon the insured’s death.

Use of existing power, information, and material to obtain a successful result, minimizing overall resource expenditure. Influential capability over a system, or environment, to multiply results from one’s efforts with no corresponding

Debtor or party whose assets or property is held by lien by a creditor, claimant, or ‘lienor’.

Per the mortality table being used as a reference, the average amount of years remaining in a person’s life.

Another name for lifetime value of a customer.

A promise to buy securities between broker and buyer if the peak financial condition is reached.

Used by a property buyer wanting to move in prior to purchase closing. This arrangement type allows property occupation at an agreed-upon date under specific pre-conditions.

A discreet unit of information in a document, record, or statement, displayed on its own separate line. A budget element separately identified is often referred to as a line item.

Mathematical computer modeling simulation technique. Calculated the best solutions for allocating energy, machines, materials, money, personnel, space, time, as limited resources to achieve maximum profit or minimum cost. Applies only where every

A company will issue this type of payment to shareholders if the company is claiming bankruptcy or ceasing business operations. Shareholder company share-count determines a shareholder’s payment amount.

Document content interpreted based solely on its textual basis, that is it actual words and phrases, and without extrapolation on its deemed or stated purpose. Also known as strict construction. Contrast to

1. Time-bound ratio of average energy demand versus maximum demand peak load. 2. Ratio of demonstrated machine capacity as a work center, or as a system versus service availability versus utilization. 3.

In the event the business property is destroyed or theft is attempted, this is an area where important documents are stored safely.

A management philosophy: strategies develop over various small decisions evaluated periodically, and not by a one-time decision. Logical results through experimentation and learning lead to these small decisions, not random determination.

If the forward rate is lower than the futures rate of a security the market decides to lower the price. Refer to short arbitrage.

Existing for several months this is a persistent disability condition.

1. In General, this is a repeatable set steps that lead back to the first step. : 2. In Electrical/Electronics, this is a complete circuit. An example is a wire-pair connecting the

IRS rule: corporation cannot file one tax return covering the corporation that includes subsidiaries owned by a third party. This prevents corporate use of losses incurred by the other owner, not the

Severe damage making an insured item a total loss because the item is no longer what it was when undamaged. Water soaked cement is an example.