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Definition of Point
The smallest unit of price change quoted or, one one-hundredth of a percent. Related: minimum price
In the bond market, the smallest measure used for quoting yields is a basis point. Each percentage
One one-hundredth of one percent
One hundredth of one percentage point, or 0.0001.
One one-hundredth of a percentage point, used to express variations in yields. For example, the difference between 5.36 percent and 5.38 percent is 2 basis points.
A conventional unit of measure for bond prices set at $10 and equivalent to 1% of the $100 face
the level of activity, in units or dollars, at which total revenues equal total costs
The point at which total costs equal total revenue, i.e. where there is neither a profit nor a loss.
The annual sales volume level at which total contribution
The sales level at which a company, division, or product line makes a
The point below which the firm will need either to obtain additional financing
Those points designated by futures exchanges at which the financial instrument or
A shipping arrangement agreed to between buyer and
The point in the production process when a product is
the level of inventory that triggers the placement
A designated inventory location on the shop floor between
Point and figure chart
A price-only chart that takes into account only whole integer changes in price, i.e., a
Point and figure chart
A financial chart usually used to plot asset price data.
point of sale (POS)
The terminal at which a customer uses his/her debit card to make a direct payment transaction. See also Interac Direct Payment.
A delivery of stock to a location in or near the shop floor
The storage of stock in a location in or near the shop floor
Price value of a basis point (PVBP)
Also called the dollar value of a basis point, a measure of the change in
the point at which the outputs of a joint process are first identifiable or can be separated as individual products
The point in a production process when clearly identifiable joint costs
An inventory storage area used for short-term inventory staging.
The trough or peak of a business cycle.
approximated net realizable value at split-off allocation
a method of allocating joint cost to joint products using a
A report that summarizes all assets, liabilities, and equity for a company
Contracts with trigger points that, when crossed, automatically generate buying or selling of
This is the person who benefits from the terms of a trust, a will, an RRSP, a RRIF, a LIF, an annuity or a life insurance policy. In relation to RRSP's, RRIF's, LIF's, Annuities and of course life insurance, if the beneficiary is a spouse, parent, offspring or grand-child, they are considered to be a preferred beneficiary. If the insured has named a preferred beneficiary, the death benefit is invariably protected from creditors. There have been some court challenges of this right of protection but so far they have been unsuccessful. See "Creditor Protection" below. A beneficiary under the age of 18 must be represented by an individual guardian over the age of 18 or a public official who represents minors generally. A policy owner may, in the designation of a beneficiary, appoint someone to act as trustee for a minor. Death benefits are not subject to income taxes. If you make your beneficiary your estate, the death benefit will be included in your assets for probate. Probate filing fees are currently $14 per thousand of estate value in British Columbia and $15 per thousand of estate value in Ontario.
Risk of a firm measured from the standpoint of an investor who holds a highly diversified portfolio.
This is a term used to describe a point at which revenues equal costs.
An analytical technique for studying the relationships between fixed cost, variable cost, and profits. A breakeven chart graphically depicts the nature of breakeven analysis. The breakeven point represents the volume of sales at which total costs equal total revenues (that is, profits equal zero).
A strategy in which a portfolio is constructed so that the maturities of its securities are highly
An arrangement in which the money manager pursues an active bond portfolio
An intermediate measure of profit equal to sales revenue
One of the three areas of the discipline of finance. It deals with the operation of the firm
A statistical methodology applied to a set of firms at a particular point in time.
A card which enables you to directly access your bank account when paying for purchases. So instead of paying in cash or with a credit card, a debit card allows the specified amount of the purchase to be electronically debited, or withdrawn, from your bank account. See Interac Direct Payment for an explanation of the actual procedures that you follow at the point of sale (POS) terminal to use your debit card.
Ability to borrow. The amount a firm can borrow up to the point where the firm value no
a unit that has been rejected at a control inspection
Difference from S&P
A mutual fund's return minus the change in the Standard & Poors 500 Index for the
discounted cash flow (DCF)
Refers to a capital investment analysis technique
a reduction in units that occurs at a specific
the degree of variability or difference; it is measured
Equilibrium market price of risk
The slope of the capital market line (CML). Since the CML represents the
The value that an asset is expected to have at the time it is sold at a predetermined
An expiration cycle relates to the dates on which options on a particular security expire. A
Federal funds rate
This is the interest rate that banks with excess reserves at a Federal Reserve district bank
fixed expenses (costs)
Expenses or costs that remain the same in amount,
Mortgage-backed securities (MBS) on which registered holders receive an aggregate principal and
incremental separate cost
the cost that is incurred for each
Insured Retirement Plan
This is a recently coined phrase describing the concept of using Universal Life Insurance to tax shelter earnings which can be used to generate tax-free income in retirement. The concept has been described by some as "the most effective tax-neutralization strategy that exists in Canada today."
Interac® Direct Payment
Instead of paying with cash or a credit card, Interac Direct Payment allows you to pay for your purchase with a debit card, such as your bank card. The amount of the purchase is electronically debited, or withdrawn, from your bank account (see debit card).
internal rate of return (IRR)
The precise discount rate that makes the
The commitment of funds (capital) in anticipation of an increased
As a discipline, the study of financial securities, such as stocks and bonds, from the investor's
the total of all costs (direct material, direct labor,
A variable that reaches a turning point (a peak or a trough) before the economy reaches a turning point.
least squares regression analysis
a statistical technique that investigates the association between dependent and independent variables; it determines the line of "best fit" for a set of observations by minimizing the sum of the squares
A statistical technique for fitting a straight line to a set of data points.
Person appointed by unsecured creditors in the United Kingdom to oversee the sale of an
Log-linear least-squares method
A statistical technique for fitting a curve to a set of data points. One of the
margin of safety
the excess of the budgeted or actual sales
The period between the 2 latest highs or lows of the S&P 500, showing net performance of a
Stage of a company's development just prior to going public, in Venture Capital language. Venture capitalists entering at that point have a lower risk of loss than at previous stages and can look forward to early capital appreciation as a result of the Market Value gained by an Initial Public Offering.
Minimum price fluctuation
Smallest increment of price movement possible in trading a given contract. Also
A bond characteristic such that the price appreciation will be less than the price
net realizable value at split-off allocation
a method of allocating joint cost to joint products that uses, as the proration base, sales value at split-off minus all costs necessary
Non-parallel shift in the yield curve
A shift in the yield curve in which yields do not change by the same
Lost revenue that would otherwise have been realized if a different
an abnormal or nonrepresentative point within a data set
Parallel shift in the yield curve
A shift in the yield curve in which the change in the yield on all maturities is
The upper turning point of a business cycle, where expansion turns into a contraction.
PIN (personal identification number)
A secret code that you use to access your bank account at a bank machine or at a point of sale (POS) terminal. You may also have a PIN for banking by telephone.
A bankruptcy practitioner appointed by secured creditors in the United Kingdom to oversee the
an inventory ordering system in which a red
Financial institution appointed to record issue and ownership of company securities.
Remaining principal balance
The amount of principal dollars remaining to be paid under the mortgage as of
Sales value at split-off
A cost allocation methodology that allocates joint costs to joint
sales value at split-off allocation
a method of assigning joint cost to joint products that uses the relative sales values of the products at the split-off point as the proration basis; use of this method requires that all joint products
a unit that is rejected at a control inspection
Also called the normal deviate, the distance of one data point from the mean, divided by
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
the point at which the learning curve becomes flat and only minimal improvements in performance are achieved
A cost that does not change steadily, but rather at discrete points. For example,
A curve showing the refunding rates for different points in time at which the expected value
The difference between spot and forward rates expressed in points, e.g., $0.0001 per pound sterling.
A point in the development of software when it is determined that
A list of the major points of the proposed financing being offered by an investor.
Threshold for refinancing
The point when the WAC of an MBS is at a level to induce homeowners to
Refers to the minimum change in price a security can have, either up or down. Related: point.
Trade on top of
Trade at a narrow or no spread in basis points relative to some other bond yield, usually
ndividual or institution appointed by a company to look after the transfer of securities.
The transition point between economic recession and recovery.
The lower turning point of a business cycle, where a contraction turns into an expansion.
A measure of dispersion of a set of data points around their mean value. The mathematical
The graphical depiction of the relationship between the yield on bonds of the same credit quality
A graphical representation of the level of interest rates for
Statistical measure that quantifies the distance (measured in standard deviations) a data point is from
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