Finance
A contract that derives its value from the performance of an underlying entity.
what is a derivative?
A set of digits used to identify a specific bank account
What is an account number?
He is the one who buys the insurance and pays regular premiums. Also known as Policyowner
Who is a policy holder?
The branch of accounting that provides reports and analysis to managers to help them make informed business decisions.
What is managerial accounting?
Nirmala Sitharaman
Who is the Finance Minister of India?
Something provided to guarantee that a loan is repaid.
what is a collateral?
The minimum reserve required by the bank to maintain in the form of gold.
What is SLR?
He is the person who inherits the sum assured in case the life assured passes away during the term of the policy. This is normally chosen by the policyholder and is usually a family member or a close relative.
Who is a nominee?
Debit what goes in, Credit what comes out.
Credit the giver and Debit the Receiver.
Credit all income and debit all expenses.
What are the golden rules of accounts?
Liberalisation, Privatization and Globalization
What are the economic reforms of 1991?
Is a form of bond issued by a government to support government spending. It generally includes a commitment to pay periodic interest, called coupon payment
What are government bonds?
It is a procedure that all banks undergo to establish the correct identity of a customer.
What is KYC?
This Period is defined as the period from the date an insurance policy commences up to its expiration date.
What is a coverage period?
The difference between total assets and total liabilities (i.e., what would be left for the owners if the firm's assets were sold and the money used to pay off its liabilities)
Andy Jassy
Who is the CEO of Amazon?
Financial contracts that give the option buyer the right but not the obligation to buy a stock, bond, commodity, or other asset or instrument at a specified price within a specific period.
What is call option?
An account that locks funds away for a fixed amount of time and offers a high interest rate.
The period during which a new policyholder is not eligible to file claims (except in case of accidents).
What is an accumulation period?
These ratios indicate how well the company uses its assets and liabilities to generate revenue. They are also known as efficiency ratios.
What are turnover ratios?
K. Shanmukham Chetty
Who is India's first Finance Minister?
A group that allows members to borrow money at low interest rates.
what is a credit union?
This is the percentage of interest you gain on interest every year, excluding compound interest.
What is Annual Percentage Yield/Annual Percentage Rate?
This ratio is a numerical metric. It helps potential insurance buyers gauge an insurance company's capacity to settle insurance claims against the number of claims received in a given financial year.
What is claim settlement ratio?
Irregular profits generated by an entity.
What are abnormal profits?
Eugene F. Fama
Who is the father of Modern Finance?