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Definition of Nonrefundable
Not permitted, under the terms of indenture, to be refundable.
An arrangement whereby a security issue is canceled if the underwriter is unable
The contract that sets forth the promises of a corporate bond issuer and the rights of
An undertaking either (1) to complete a project such that it meets certain specified
An undewriting in which an investment banking firm commits to buy the
Agreement between lender and borrower which details specific terms of the bond issuance.
Eligible for refunding under the terms of indenture.
Conditions on which a firm proposes to sell its goods services for cash or credit.
The weighted average of a nation's export prices relative to its import prices.
A pension plan that has a negative surplus (i.e., liabilities exceed assets).
The mirror image of the asset substitution problem, wherein stockholders refuse
The asset that an option gives the option holder the right to buy or to sell.
Options: the security subject to being purchased or sold upon exercise of an option
When a security is expected to appreciate at a slower rate than the overall market.
Issue of securities below their market value.
To guarantee, as to guarantee the issuer of securities a specified price by entering into a purchase
A party that guarantees the proceeds to the firm from a security sale, thereby in effect taking
Acting as the underwriter in a purchase and sale.
The portion of the gross underwriting spread that compensates the securities firms that
For an insurance company, the difference between the premiums earned and the costs
A group of investment banks that work together to sell new security offerings to
a debit balance in the Overhead account at the end of a period; when the applied overhead amount is less than the actual overhead that was incurred
Rho - The rate of change in a derivative’s price relative to the underlying
security’s risk-free interest rate.
terms of sale
Credit, discount, and payment terms offered on a sale.
Issuing securities at an offering price set below the true value of the security.
Firm that buys an issue of securities from a company and resells it to the public.
Terms of Trade
The quantity of imports that can be obtained for a unit of exports, measured by the ratio of an export price index to an import price index.
Economic activity not observed by tax collectors and government statisticians.
See investment banker.
Roth IRA. An IRA account whose earnings are not taxable at all under certain
Earnings after removing the effects of nonrecurring or nonoperating items.
This is the process by which "dirty money" generated by criminal activities is converted through legitimate businesses into assets that cannot be easily traced back to their illegal origins.
This could be the person (broker or agent) who helps you choose the proper type of life insurance or disability insurance and the insurance company for your particular needs. This could also be the person at the insurance company's head office who reviews your application for coverage to determine whether or not the insurance company will issue a policy to you.
Conditions under which credit is extended by a lender to a borrower.
The length of time given a borrower by a lender to repay a debt and the frequency of principal payments which the borrower has to meet.
Person that uses various types of evidence to evaluate the insurability of a client.
Evaluating and classifying potential risk of a client.
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