Legal Articles

MORTALITY TABLE

Categorized by age and other factor like occupation is data gathered on the rate of death among groups of people by insurance companies.

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MORTGAGE DURATION

Length of a mortgage, typically in years, unless some principal pre-payment occurs. For an asset that is not property, it can be the number of years until an investor receives the initial present value from a security backed by the mortgage. In this case the longer the mortgage duration is, the more the secured asset value declines as interest rates rise, and, conversely, as interest rates fall the more the asset’s value rises.

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MORTGAGE PARTICIPATION CERTIFICATE

A security holding partial ownership within a pool of other partial mortgage owners. These other mortgages are owned by a federally insured mortgage holder, like Freddie Mac. Also known as pass-through security.

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MORTGAGE-BACKED REVENUE BOND

Local or municipality issued bonds to fund low interest rate mortgages. the mortgage payments pay back the mortgage-backed revenue bonds. Similar to mortgage backed securities. Each bond has its own short-term maturity date, varying from 18 months up to 4 years. Also known as housing bond.

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MOTOR FREIGHT

Truck-transported commercial, manufacturing, governmental, or residential goods to their destination, be it a retail outlet or to an individual customer. This excludes rail or air transport.

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MUDARABA

Arabic-styled finance, pre-Islamic. One individual provides startup capital as the financier. Another individual will do the actual work, as the entrepreneur. Here, a single-tiered mudaraba exists. If there is a go-between negotiator, a two-tier mudaraba now exists. A mudaraba is a financial agreement between a financier and an entrepreneur.

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MULTICULTURALISM

Cultural, ethnic, linguistic, and religious differences having legal, political, and social recognition willingly promoted by celebrating human diversity.

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MULTILATERAL INVESTMENT GUARANTY AGENCY (MIGA)

Established in 1988 as a World Bank Group division, it was to encourage private foreign investors to direct investment in developing countries. Non-commercial risks mitigation insurance and investment guarantees is what MIGA provides. Non-commercial risks are imposed foreign exchange restrictions, conflicts or war outbreaks, and asset seizures. MIGA facilitates management and service contracts, franchising and licensing arrangements, and technology and know-how transfer. MIGA also advises governments on foreign investment policies and procedures, their design and implementation.

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MULTIPLE LINE LAW

To write both property and casualty insurance the same insurer is legal under this specific type of state law.

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MULTIPLE-MANAGEMENT PLAN

different types of management involved in this specific type of plan are typically in roles different than ones originally identified for them. This helps in vetting future upper-level management positions. Top-level management instigates this plan type to bring lower and midlevel managers into decision-making at the administrative level.

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MUNICIPAL SECURITIES RULEMAKING BOARD (MSRB)

Municipal bond and securities dealers are regulated by the rules established by this specific type of organization.

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MUTUAL FUND SUBADVISOR

A fund manager’s hired assistant in managing investment portfolios. A sub-advisor works outside of the fund itself as a money manager. With the goal of reaching specific objectives, sub-advisors are authorized to manage either some or all of the fund’s assets.

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MACHINE LEARNING

Using repetition and experience as how humans seem to learn. Using software whose operations mimic these methods, employing artificial intelligence techniques to enhance the ability of a machine to improve its own performance.

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MAGAZINE

Typically, a monthly, general interest or specific focus periodical. Characteristics are that it covers several topics by short articles of about 3-pages long, that are submitted by in-house and external authors, carrying both black-and-white and color advertisements and graphics, and usually printed on glossy paper.

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MAINTENANCE BOND

a type of construction bond that guarantees against defective materials or craftsmanship. This bond is good for a specified amount of time after the finished work has been accepted.

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MAINTENANCE STRATEGY

Making ongoing but limited investments in its marketing aimed at maintaining the current market share of a brand or product, specifically in stagnant or low growth markets, as a planned support approach.

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MAJORITY-OWNED SUBSIDIARY

A parent company or lateral-integrated unit with more than 50% ownership of a business unit.

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MALPRACTICE LIABILITY INSURANCE

Insurance coverage for a doctor, surgeon, psychiatrist, psychologist, nurse, a hospital, other medical/healthcare professional or institution if guilty of dereliction of duty due to negligence or incompetence. Pays for the defense of the insured in lawsuits. Covers levied damages up to a specified limit. In contrast, other professionals, accountants, consultants, engineers, carry errors-and-omissions liability insurance or professional liability insurance.

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MANAGEMENT AUDIT

A systematic organizational management assessment. Evaluates sufficiency of methods and policies. Resource administration and use, tactical and strategic planning, and employee and organizational improvement are this action’s focus.

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MANAGEMENT DEVELOPMENT

Organizational development portion covering executive-level employees recruitment, assessment, and training to equip them for higher positions in leadership . This process typically includes: (1) cognitive thinking development, idea generation, and decision making, (2) behavioral attitudes and values, choosing what is appropriate, (3) environmental situations, appropriate management style.

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