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Definition of control premium
the additional value inherent in the control interest as contrasted to a minority interest, which reflects its power of control
a measure used in academic finance articles to measure the excess returns an investor would have received over a particular time period if he or she were invested in a particular stock.
Yearly amount payable by a client for a policy or component.
A benefit that automatically forfeits premium payments.
The process of ensuring that actual financial results are in line with targets – see variance
Verifying that a delivered product matches authorizing
50% of the outstanding votes plus one vote.
An account maintained in the general ledger that holds the balance without the detail. The detail is maintained in a subsidiary ledger.
a graphical presentation of the results of a
a cost over which a manager has the ability to authorize incurrence or directly influence magnitude
The profit made by a division after deducting only those expenses that can be controlled by the
the budget variance of the two variance approach to analyzing overhead variances
A service that provides for a single presentation of checks each day (typically in
A foreign corporation whose voting stock is more than 50% owned
The corporate manager responsible for the firm's accounting activities.
the chief accountant (in a corporation) who is responsible
Officer responsible for budgeting, accounting, and auditing.
the process of exerting managerial influence on
The percentage by which the conversion price in a convertible security exceeds the
The process of either reducing costs while maintaining the same level of productivity or maintaining costs while increasing productivity.
cost control system
a logical structure of formal and/or informal
A procedure for ensuring that transaction processing is completed
A differential in promised yield that compensates the investor for the risk inherent in
Difference in promised yields between a default-free bond and a riskier bond.
DLOC (discount for lack of control)
an amount or percentage deducted from a pro rata share of the value of 100% of an equity interest in a business, to reflect the absence of some or all of the powers of control.
Dupont system of financial control
Highlights the fact that return on assets (ROA) can be expressed in terms
Governmental restrictions on the purchase of foreign currencies by domestic citizens or
The management of a firm's costs and expenses in order to control them in relation to
Foreign exchange controls
Various forms of controls imposed by a government on the purchase/sale of
A currency trades at a forward premium when its forward price is higher than its spot price.
Immigration Reform and Control Act of 1986
A federal Act requiring all employers having at least four employees to verify the identity and employment
internal accounting controls
Refers to forms used and procedures
any measure used by management to protect
A premium that remains unchanged throughout the life of a policy
Level Premium Life Insurance
This is a type of insurance for which the cost is distributed evenly over the premium payment period. The premium remains the same from year to year and is more than actual cost of protection in the earlier years of the policy and less than the actual cost of protection in the later years. The excess paid in the early years builds up a reserve to cover the higher cost in the later years.
Forward rate minus expected future short-term interest rate.
This is difficult to define in a few words—indeed, an
management control system (MCS)
an information system that helps managers gather information about actual organizational occurrences, make comparisons against plans,
market risk premium
Risk premium of market portfolio. Difference between market return and return on risk-free Treasury bills.
Extra average return from investing in longversus short-term Treasury securities.
the fixed overhead volume variance;
The option price.
1) Amount paid for a bond above the par value.
This is your payment for the cost of insurance. You may pay annually, semi-annually, quarterly or monthly. The least expensive method is annually. Using any of the other payment modes will cost you more money. For example, paying monthly will cost about 17% more. If you pay annually and terminate your coverage part way through the year, you may not receive a refund for the remaining months to the annual renewal date.
Annual amount payable, by a client, for selected product or service.
A bond that is selling for more than its par value.
Premium (Credit Insurance)
Annual or monthly amounts payable, by a client, for a selected insurance coverage to insure debt obligations to their creditors are protected.
A nonqualified stock option whose option price is set substantially
Payment schedule of policy premiums, usually selected by the policy owner (monthly, quarterly, annually).
After premiums have been paid for a number of years, further annual premiums may be paid by the current dividends and the surrender of some of the paid-up additions which have built up in the policy. In effect, the policy can begin to pay for itself. Whether a policy becomes eligible for premium offset, the date on which it becomes eligible and whether it remains eligible once premium offset begins, will all depend on how the dividend scale changes over the years. Since dividends are not guaranteed, premium offset cannot be guaranteed either.
the implementation of all practices and policies
Risk controlled arbitrage
A self-funding, self-hedged series of transactions that generally utilize mortgage
The reward for holding the risky market portfolio rather than the risk-free asset. The spread
The additional rate of return required on a risky project
Expected return in excess of risk-free return as compensation for risk.
The difference between the yields of two bonds because of differences in their risk.
The difference between the required rate of return on a riskless asset with the same expected life.
Risk premium approach
The most common approach for tactical asset allocation to determine the relative
Shelf life control
Deliberate usage of the oldest items first, in order to avoid exceeding
Single-premium deferred annuity
An insurance policy bought by the sponsor of a pension plan for a single
statistical process control (SPC)
the use of control techniques that are based on the theory that a process has natural variations in it over time, but uncommon variations
Tender offer premium
The premium offered above the current market price in a tender offer.
Excess of the yields to maturity on long-term bonds over those of short-term bonds.
Also called time value, the amount by which the option price exceeds its intrinsic value. The
premiums paid for coverage not yet provided.
This term relates to participating whole life insurance and the use of the dividend to reduce or completely eliminate the need for future premiums. In the 1980's life insurance company's profits from investment were exceedingly high compared to historical experience. It became common for a salesperson to show new prospective clients how quickly his or her insurance company's dividends would cover the future cost of future premiums. In some cases more emphasis was put on the value of future dividends than on the fact that future dividends were not guaranteed and could only be projected based on current earnings. Many life insurance buyers have since learned that the dividends they expected in the 80's no longer exist in the 90's and they are continuing to dig into their pockets to pay insurance premiums.
The visual inspection of inventory levels, enabled by the use of
An incomes policy in which wages and prices are constrained by law not to rise by more than a specified percentage.
Waiver of Premium
This is an option available to the applicant for life insurance which sets certain conditions under which an insurance policy will be kept in full force by the insurance company without the payment of premiums. Very specifically, a life insured would have to become totally disabled through injury or illness for a period of six months before the benefit kicks in. When it does, the insurance company retroactively pays premiums from the beginning of the disability until the time the insured is able to perform some form of regular activity. 'Totally disabled' is highlited here, because that is what is required to receive this benefit.
Waiver of Premium
A benefit that allows CLA to pay premiums on behalf of the insured.
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