Risk analysis is the process of identifying potential risks to an organization and assessing the likelihood and impact of those risks. It is a vital part of any risk management plan and can help organizations make informed decisions about how to allocate resources and manage risks. There are two main types of risk analysis: qualitative … Read more
A General Account is the primary account that an insurance company uses to hold premium dollars and investment assets to pay claims and expenses. The account is also used to hold reserves for future policy benefits. What does GA stand for in business? GA stands for General Agent. A General Agent is an insurance agent … Read more
The term “Bid Wanted In Competition (BWIC)” is used when an institution wants to sell a large block of bonds and solicits bids from a number of dealers. The institution will usually specify the minimum amount they are willing to accept for the bonds, and the dealers will then submit their bids. The institution will … Read more
Natural law theory is the belief that there is a moral law that is inherent in human nature and that this law can be discovered through reason. This theory has been used to justify various ethical principles in business, such as the duty to act in the best interests of shareholders. What is natural law … Read more
What are demand curves and what are the different types? What are the 7 factors of demand? 1. Price: The most obvious factor affecting demand is price. As prices increase, demand for a good or service decreases, and vice versa. 2. Income: Income is another important factor affecting demand. As income increases, demand for most … Read more
How does Sustainability Work? What are the Benefits of Sustainability? What is an Example of Sustainability? What is Sustainability? Sustainabilities Work, Benefits, and Example. What are three 3 terms used to describe sustainability? 1. Social sustainability: Refers to the ability of a society to maintain its cultural and social cohesion in the face of significant … Read more
A Builder’s Risk Coverage Form is an insurance policy that provides protection for a builder or contractor against loss or damage to property during the course of construction. The coverage is usually written on a “special form” basis, which means that it is specifically tailored to the needs of the builder or contractor, and is … Read more
Product Families: The Basics What are the 7 types of product? There are 7 types of product: 1. Services 2. Experience 3. Physical 4. Information 5. Place 6. Membership 7. Event 1. Services are intangible and cannot be touched. They are produced by people and businesses to satisfy customer needs or wants. They are often … Read more
Yield maintenance is a type of prepayment penalty that is designed to protect the investor from losing interest payments if the borrower decides to refinance the loan. The penalty is calculated based on a percentage of the outstanding loan balance and is typically paid at the time of refinancing. Why Is prepayment a risk? Prepayment … Read more
The bid price is the price at which a market maker is willing to buy a security. The bid price is also known as the “bid.” The bid price is one of the two prices that make up the bid-ask spread. What is the full meaning of bid? The full meaning of bid is the … Read more
