A requirement that states that any person who wishes to apply for an insurance license must complete an educational degree or course.

A technique in which brands try to sell their products at a higher price compared to the general market, in order to create a brand image.

A notice issued in order to provide the exact date on which a premium will become payable.

A term used to denote a condition in which people are unable to meet their basic necessities, due to lack of money or skill. There are two primary terms used to denote

When a cash transaction has been written in the books, while no cash was ever deposited for it.

Examination or measurement of any overhead, which has passed through the phase of manufacturing.

A term commonly associated with credit cards, debit cards, NFC technology, etc.

Software that is not locked to a certain platform; can be run on different platforms.

An agreement set up between the plaintiff and the defendant to come to a resolution about a case, without ever taking it to trial.

Obligations towards debt, which has been sold as shares. In such an agreement, the principal amount as well as the interest taken from borrowers first goes through the middleman, who deducts his

During a transaction, the passage of risk is a phase in which the risk of damage or loss passes from the seller of the product to the buyer. For different products/ items,

The conveyance, or transfer of any title of any good/ property from the seller to the buyer, usually resulting in the transfer of ownership as well.

Passivation is a process in which any substnace is rendered inert, or inactive through a chemical reaction. No more reactions can take place with a passivated substance.

A company foreign to the United States, which makes most of its money through investments. It must pass the Asset Test or the Income Test. Usually, investors follow differing regulations regarding the

When an student gets no response on his learning trend from his instructor, it is known to be passive learning.

Any income that is not earned due to a direct acitivity. For instance, income made through rent, a limited partnership or any other passive source. It does not include earned salary, capital

A contract that becomes enforcable without the signing of any party. For instance, a contract to uphold the copyrights of a book are set in place as soon as the customer buys

A tool which is designed to verify whether the password entered in to a computer is valid or not. It does, however, have integrity flaws, and hence, the passwords can be stolen

Any number of characters, words or alphanumeric data, which can be used as an access key to gain entry in to a computer, any file or program.

A mistake on the part of an interviewer, or the anchor, which occurs when he/ she rates an employ using their past ratings as a base.