Options Clearing Corporation (OCC)
Applies to derivative products. Financial institution that is the actual issuer and guarantor of all listed optioncontracts.
Catastrophe call
Early redemption of a municipal revenue bond because a catastrophe has destroyed the project that provided the revenue source backing the bond.
Life expectancy
The length of time that an average person is expected to live, which is used by insurance companies use to make projections of benefit payouts.
Mark Berch:Discount bond
Debt sold for less than its principal value. If a discount bond pays no coupon, it is called a zero coupon bond.
Unearned income (revenue)
Income received in advance of the time at which it is earned, such as prepaid rent.
Russell Indexes
US equityindex widely used by pension and mutual fundinvestors that are weighted by market capitalization and published by the Frank Russell Company of Tacoma, Washington. For example, the Russell 3000 index includes the 3,000 largest US companies according to market capitalization. Mark Berch
Advancement
Money or property given to a person by the deceased before death and intended as an advance against the beneficiary's share in the will.
Applies to derivative products. Financial institution that is the actual issuer and guarantor of all listed optioncontracts.
Catastrophe call
Early redemption of a municipal revenue bond because a catastrophe has destroyed the project that provided the revenue source backing the bond.
Life expectancy
The length of time that an average person is expected to live, which is used by insurance companies use to make projections of benefit payouts.
Mark Berch:Discount bond
Debt sold for less than its principal value. If a discount bond pays no coupon, it is called a zero coupon bond.
Unearned income (revenue)
Income received in advance of the time at which it is earned, such as prepaid rent.
Russell Indexes
US equityindex widely used by pension and mutual fundinvestors that are weighted by market capitalization and published by the Frank Russell Company of Tacoma, Washington. For example, the Russell 3000 index includes the 3,000 largest US companies according to market capitalization. Mark Berch
Advancement
Money or property given to a person by the deceased before death and intended as an advance against the beneficiary's share in the will.
