Category: U

Technique used to locate defects in matter by passing sound energy through the material.

Items in seller’s inventory where the buyer’s order will be taken from.

Situation where overheads applied to work in progress, WIP, is less than overheads actual incurred.

A security with a price expected to rise due to it trading lower than is justified by its estimated and current earnings. See Bottom fishing; Value investing.

Insurance made in advance that the insurance company has not earned.

Sound waves that have a frequency above 20,000Hz and cannot be heard by humans.

Certified Public Accountant’s decision not involved in preparing a financial statement is called in for a unbiased opinion.

Bidding at a lower price that that of other bidders.

Loan under book value due to its (1) not performing, (2) low interest rate below market rate, (3) collateral market value decreases to less than loan balance outstanding or (4) collateral is

Account holding income recognised to pay insurance premiums.

Solar radiation that is invisible lying just beyond the violet end of a visible spectrum. Wavelength from 10 to 400 nanometres that harms living tissue.

The viewing of any form of confidential information without permission.

People at the lowest level of society that have becomes victims of a poverty trap.

Situation that has arisen when a portfolio’s investment are lower in proportion to the financial market’s share of capitalisation. Opposite of overweight.

Part of the premium applying to a reinsured part of the policy.

Chart for quality control where number of events, subgroup changes are noted.

Policy of liability insurance covering claims not covered or in excess of cover amount under basic policy for liability.

Sum that is spent for purposes it was not intended to be spent on.

Offering goods or services at a deliberately set lower price than competition.

1. General. Document that is signed at the end to signify agreement , correctness or truth of contents. 2. Banking. Evaluating risk for lending by analysing loan contract details. 3. Insurance. Evaluation