Level of authorization to read and/or modify a record or datafile.
Extent to which a consumer or user can obtain a good or service at the time it is needed.
Amount billed for additional, supplemental, or special services provided, usually as a flat fee.
Supplemental or special services provided in addition a basic service.
The term accident is sometimes defined in the policy document as follows - the accident must be caused by violent, external and visible means and cause of the injury or injuries solely and independently of any other means.
Benefit, which provides for the payment of an additional sum (usually equal to the sum insured of the basic policy) in the event of death by an accident.
a liability arising from employees' salary expense that has been incurred but not paid
Customers who have bought a firm's products at least once in a 12 month period. Active customers are more likely (than the non-active or occasional customers) to buy again.
applies mathematical and statistical methods to finance and insurance, particularly to the assessment of risk. Actuaries are professionals who are qualified in this field.
is the relationship between a principal and an agent wherein the agent is authorized to represent the principal in certain transactions.
is the sum or total.
are used when a client retains an external auditor to perform specific tests and procedures and report on the results. Examples might include special reviews of loan portfolio or internal control systems. In performing agreed-upon procedures, the auditor provides no opinion, certification, or assurance that the assertions being made in the financial statements are free from material misstatement. The users of reports based on agreed-upon procedures must draw their own conclusions on the results of the tests reported. For example, an external auditor could be asked to look at a certain number of corporation loan files and document which of the required forms are in the files. The auditor would report on the selection and the results of the procedures performed but would not provide a formal opinion with conclusions drawn from the results of the procedures.
is a bill of lading and contract between the shipper and the airline for delivery of goods to a specified location, and sometimes with specified delivery date/time. Non-negotiable, but serves as receipt from the airline to prove that goods were received.
This refers to the amount that is payable according to the terms and conditions of the insurance policy to the legal owner of the insurance policy.
The person whose lifetime is used to measure the contractual period over which annuity payments will be made.
generally, is a deviation from the common rule. It is an irregularity that is difficult to explain using existing rules or theory. In securities, it is an unexplained or unexpected price or rate relationship that seems to offer an opportunity for an arbitrage-type profit, although not typically without risk. Examples include the tendency of small stocks to outperform large stocks, of stocks with low price-to-book value ratios to outperform stocks with high price-to-book value ratios, and of discount currency forward contracts to outperform premium currency forward contracts.
This refers to an event when a policy has lapsed or terminated by the policy owner owing to a non-payment or late payment of a premium. The company will consider a reinstatement of the contract in the event of an application being made as prescribed by the company in terms of the outstanding premium, interest or administration fees (if any) and evidence of good health. The reinstatement and terms are at the discretion of the company.
is a report made by a qualified person setting forth an opinion or estimate of value.
is an opinion of a asset's fair market value, based on an appraiser's knowledge, experience, and analysis of the asset class.
is an unpaid overdue debt, or the state of being behind in payments, e.g. an account in arrears.