|Normal annuity form|
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Definition of Normal annuity form
Normal annuity form
The manner in which retirement benefits are paid out.
the present value of a finite stream of cash flows for every beginning $1 of cash flow.
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.
Part of the return that is not due to systematic influences (market wide influences). In
A regular periodic payment made by an insurance company to a policyholder for a specified period
An annuity with n payments, wherein the first payment is made at time t = 0 and the last
Present value of $1 paid for each of t periods.
An annuity with a first payment on full period hence, rather than immediately.
Information that is known to some people but not to other people.
A method developed by BARRA, a consulting firm in
The Association for Investment Management and Research (AIMR)'s Performance Presentation Standards Implementation
Sum of the differences between the expected return on a stock and the
A monthly fixed-dollar payment beginning at retirement age. It is nominal
The equivalent amount per year for some number of years that has a present
The expected value if the future uncertain outcomes could be known
Method used to determine a participant's benefits in a defined benefit plan by
A method of selling a new issue of common stock in which the SEC declares the registration
A situation involving information that is known to some, but not all, participants.
Information Coefficient (IC)
The correlation between predicted and actual stock returns, sometimes used to
Transaction costs that include the assessment of the investment merits of a financial asset.
Organizations that furnish investment and other types of information, such as
The rise in the stock price following the dividend signal.
The speed and accuracy with which prices reflect new information.
Trades that are the result of either a reallocation of wealth or an implementation of an
Trades in which an investor believes he or she possesses pertinent
Relevant information about a company that has not yet been made public. It is illegal for
A distribution where the logarithm of the variable follows a normal distribution.
Normal backwardation theory
Holds that the futures price will be bid down to a level below the expected
Related: standardized value
Normal probability distribution
A probability distribution for a continuous random variable that is forms a
A customized benchmark that includes all the securities from which a manager normally
Normal random variable
A random variable that has a normal probability distribution.
The practice of making a charge in the income account equivalent to the tax savings
When a security is expected to appreciate at a rate faster than the overall market.
Performance attribution analysis
The decomposition of a money manager's performance results to explain
The evaluation of a manager's performance which involves, first, determining
The calculation of the return realized by a money manager over some time interval.
Shares of stock given to managers on the basis of performance as measured by earnings
Pro forma capital structure analysis
A method of analyzing the impact of alternative capital structure
Pro forma financial statements
Financial statements as adjusted to reflect a projected or planned transaction.
Pro forma statement
A financial statement showing the forecast or projected operating results and balance
RAMs (Reverse-annuity mortgages)
Mortgages in which the bank makes a loan for an amount equal to a
Semi-strong form efficiency
A form of pricing efficiency where the price of the security fully reflects all
Single-premium deferred annuity
An insurance policy bought by the sponsor of a pension plan for a single
Standardized normal distribution
A normal distribution with a mean of 0 and a standard deviation of 1.
Pricing efficiency, where the price of a, security reflects all information, whether or
Tax Reform Act of 1986
A 1986 law involving a major overhaul of the U.S. tax code.
When a security is expected to appreciate at a slower rate than the overall market.
Unit benefit formula
Method used to determine a participant's benefits in a defined benefit plan by
Weak form efficiency
A form of pricing efficiency where the price of the security reflects the past price and
A series of payments or deposits of equal size spaced evenly over
annuity where the payments are to be made at the beginning of
An annuity where the payments are made at the end of each
a series of equal cash flows being received or paid at the beginning of a period
bits of knowledge or fact that have been carefully
management information system (MIS)
a structure of interrelated elements that collects, organizes, and communicates
material requisition form
a source document that indicates
net cost of normal spoilage
the cost of spoiled work less the estimated disposal value of that work
the long-run (5–10 years) average production
normal cost system
a valuation method that uses actual
an expected decline in units during the production process
spoilage that has been planned or foreseen; is a product cost
a series of equal cash flows being received
an entity’s legal nature (for example,
the process of determining the degree
performance management system
a system reflecting the entire package of decisions regarding performance measurement and evaluation
A series of payments over a period of time. The payments are usually
Normal (bell-shaped) distribution
In statistics, a theoretical frequency
Pro forma (Proforma)
A set of financial statements that incorporates some assumptions, usually
Spoilage arising from the production process that exceeds the normal
The amount of spoilage that naturally arises as part of a production
Equally spaced level stream of cash flows.
Level stream of cash flows starting immediately.
Present value of an annuity of $1 per period.
information content of dividends
Dividend increases send good news about cash flow and earnings. Dividend cuts send bad news.
Projected or forecasted financial statements.
Market prices reflect all publicly available information.
Market prices rapidly reflect all information that could in principle be used to determine true value.
Market prices rapidly reflect all information contained in the history of past prices.
A form used by businesses to report to the government payments
A form used by employees to report to an employer the amount of
The standard form used for notifying a company to garnish an employee’s
The form used by employers to report tip income by their employees
A form used to report federal unemployment tax remittances and liabilities.
A shortened version of the form 940.
The Employment Eligibility Verification form, which must be filled
Illegal Immigration Reform and Immigrant Responsibility Act of 1996 (IIRIRA)
A federal Act shielding employers from liability if they have made
Immigration Reform and Control Act of 1986
A federal Act requiring all employers having at least four employees to verify the identity and employment
Individual Retirement Annuity
An IRA comprised of an annuity that is managed
Uniform Interstate Family Support Act
A federal Act specifying which jurisdiction
Uniformed Services Employment and Reemployment Rights Act of 1994
A federal act that minimizes the impact on people serving in the Armed Forces
A form used to report gross pay and tax deductions for each employee
A form issued to a company’s suppliers, requesting that they identify
A format for the operating section of the cash-flow statement that reports actual cash receipts and cash disbursements from operating activities.
A format for the operating section of the cash-flow statement that
Reported net income with selected nonrecurring items of revenue or gain
Any inventory item that does not match its original design
A contract which provides an income for a specified period of time, such as a certain number of years or for life. An annuity is like a life insurance policy in reverse. The purchaser gives the life insurance company a lump sum of money and the life insurance company pays the purchaser a regular income, usually monthly.
Back To Back Annuity
This term refers to the simultaneous issue of a life annuity with a non-guaranteed period and a guaranteed life insurance policy [usually whole life or term to 100]. The face value of the life insurance would be the same amount that was used to purchase the annuity. This combination of life annuity providing the highest payout of all types of annuities, along with a guaranteed life insurance policy allowed an uninsurable person to convert his/her RRSP into the best choice of annuity and guarantee that upon his/her death, the full value of the annuity would be paid tax free through the life insurance policy to his family members. However, in the early 1990's, the Federal tax authorities put a stop to the issuing of standard life rates to rated or uninsurable applicants. Insuring a life annuity in this manner is still an excellent way to provide guaranteed tax free funds to family members but the application for the annuity and the application for the life insurance are separate transactions and today, most likely conducted through two different insurance companies so that there is no suspicion of preferential treatment given to the life insurance application.
An annuity providing for income payments to commence at a specified future time.
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