A policy that deems the insured’s statement of healthy sufficient for its issuance.

Injuries that are sustained at work are not insured under this policy due to their coverage under the workers compensation.

Activities such as the insurance and maintenance of assets that are not directly involved in the operation of the business, but result in an additional expense for the firm.

The profit realized from activities such as the sale of an asset, which is not related directly to the firm’s primary business operations.

An instrument such as a document or a financial instrument that cannot be transferred between the holder and any other individual or institution.

The opposite of linear systems, it refers to the system whose external factors may be disruptive and non-additive. Non linear systems cannot be broken down into smaller parts and then put back

A method of quality control that is performed on a finished item instead of a sample. As such, it leads to no damage of the tested product. Common techniques include radiography and

Also referred to as interest only loan, it is an arrangement on a loan which requires the borrower to pay periodic installments to cover only the interest amount. The principal amount is

Non affiliation or non specific ownership with respect to any cause, party or group.

A mobile source of pollution such as the exhaust from automobile and aircraft.

A market situation which exists due to the fear of a price war. As such, competitors do not reduce prices. They however, focus on building a distinctive image for their brand through

A provider who is not contracted with a health plan, or one who is prohibited from participating in Medicare.

Income that is not derived from the operations of the business, but still received. It is examined independently from operating income as it does occur frequently. A one time occurrence such as

Time that is not spent on the execution of a task or on manufacturing operations.

Advantage gained by a product over its competition not by virtue of its attributes but by the creation of a distinct brand image through exclusive promotions, widespread distribution, superior customer service, etc

A retirement contribution that the employee has earned, but which is yet to be paid by the employer. It is not taxable as it has yet to be received. Employees with high

A person who engages in investment activities but is not involved or affiliated to the SEC or other agencies. Also, a person who is not an investment broker, but is actively involved

Documents which do not require to be filled and have no retention value. These can be drafts, memos or a copy for distribution.

An abnormal variation that is caused by a few factors, but causes a noticeable defects that are easily detectable. In quality control, these an be identified and eliminated to ensure a high

In the event that a borrower defaults, this type of loan limits the lender’s power to take possession of the borrower’s property.