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Definition of Contingent claim
A claim that can be made only if one or more specified outcomes occur.
Request for payment of benefits under the terms of an insurance policy.
A reduction in the likelihood one or more of the firm's claimants will be fully repaid,
A party to an explicit or implicit contract.
Person or party making request for payment of benefits under the terms of an insurance policy.
This is the person designated to receive the death benefit of a life insurance policy if the primary beneficiary dies before the life insured. This is a consideration when husband and wife make each other the beneficiary of their coverage. Should they both die in the same car accident or plane crash, the death benefits would go to each others estate and creditor claims could be made against them. Particularly if minor children could be survivors, then a trustee contingent beneficiary should be named.
The formal name for the load of a back-end load fund.
An arrangement in which the money manager pursues an active bond portfolio
An obligation that is dependent on the occurrence or nonoccurrence of
This is the person designated to become the new owner of a life insurance policy if the original owner dies before the life insured.
compensation that is dependent on the
Under ERISA, the firm is liable to the plan participants for up to 39% of the net
An auditor's statement disclaiming any opinion regarding the company's financial
Also called a residual claim, a claim to a share of earnings after debt obligation have been
claims that can be bought and sold in financial markets, such as those of stockholders and
claims that cannot be easily bought and sold in the financial markets, such as those of
Preferred Stock Stock that has a claim on assets and dividends of a corporation that are prior
to that of common stock. Preferred stock typically does not carry the right to vote.
Related: equity claim
Net pay not collected by an employee, which is typically transferred
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