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ability-to-pay principle

abnormal earnings/return

absolute advantage

absolute convergence

absolute dispersion

absolute frequency

academic arbitrage

accelerated amortization

1

accelerated sinking fund provision

acceleration clause

acceptance criterion

acceptance sampling

access person

account

accountant' s opinion

account balance

account form

(report form)

account payable

accounting

accounting Beta method B

B

accounting change

( AICPA)(APB) 20

(1)(2)

(3)

accounting control

accounting cycle

accounting earnings/income

accounting estimate

accounting exposure

translation

exposure

accounting equation

accounting goodwill

accounting method

accounting model

(1)(2)

(3)(4)

accounting policy making

accounting profit

1

accounting risk

accounting system

accounts payable

accounts receivable

accreting swap

accrual

accrual bond

(Z bond)

accrued expense

accrued income/revenue

accrued liabilities

accumulated depreciation

1 j 1

accumulated surplus

accumulation phase

acquisition

active participation

active return

active risk

activist strategy

actual

actuarial yield

adaptive-expectations hypothesis

additions

addition rule

A B P(A or B) =P (A) +P

(B) -P (AB)

additions

add-on interest

adjustable peg

adjusted basis

adjusted Beta B

B

adjusted Beta market model B

( Mean-reverting)

1 1

adjusted forecast

adjusted R2 R2

R2

adjusted trial balance

adjusting entry

administrative fees

administrative lag

advance billing

advances

adverse opinion

advisory service

affiliated company

20-50%

affirmative covenants

after tax

( WACC)

after-tax yield

against actuals

agency problem

( Freddie

Mac)(Fannie Mae)

agency relationship

agency security

agency trade

(1)

(2)(3)(4)

AICPA

American Institute of Certified Public Accountants

AIMR

(Association for Investment Management Research)

all-in cost

allocative efficiency

allocative inefficiency

all-or-none order

all-or-nothing option

allowance

1 1

allowance for doubtful accounts

allowable depreciation

1 j

allowance method

all-risk(ar)

Alpha

alternative hypothesis

Ho

Ha

alternative option

American option

American terms

US$/FC

amortization

amortization of goodwill

142

Amortizing and accreting swaps

amortizing securities

amortizing swap

analysis effect

analyst

analytical method

Delta

announcement date

annual compounding

annual report

Annual percentage rate (APR)

annual report

annual yield

annuitant

annuity

annuity due

annuity bond

annuity due

1

1 (compound interest method of depreciation)

anomalies

ANOVA table

F

anticipated change

anticipated inflation

anticipatory hedge

antidilutive EPS

antitrust legislation

APB Opinions

1962 -1973 31

appraisal

appreciation

( unappropriatedretained

income)

appropriation of retained earnings

approximate percentage change

a priori probability

arbitrage

arbitrage approach

arbitrage-free pricing/valuation

arbitrage opportunity

arbitrage portfolio

CAPM

arbitrage principle

arbitrageur

arithmetic average

arrears

arrears swap

articulation

ascending tops

ask price

offer price

assessment

assessment ratio

assessor

asset

asset allocation

asset-based model

asset-based valuation

asset class

asset coverage

asset impairment

( FASB) 144

all-or-nothing option

Assets Under Management(AUM)

asset value

assignable causes

assignable contract

assignment

assignment of mortgage

associated person

assumable mortgage

assumption

asymmetric information

as-you-like-it option

chooser option

at a premium

at market

at per

at the close

atthe-money

at-the-money option

attribution analysis

auction market

audit

audit committee

auditor

auditor's opinion

audit report

audit trail

authorized shares

authority bond

authorized stock

autocorrelation

autocorrelation test

automatic stabilizers

automation

autonomous expenditures

ARMAARMA

autoregressive (AR) model

( ARMA) AR MA

ARMA(pq) AR (p) MA (q) ARMA (1)

ARMA (2)(3)

80

avail

available asset

available cash

average collection period of receivable

365

365

average cost

(1)(2)

(3)

average depreciable life

1

=

average inventory processing period

=

365

average price

average product

average rate

average revenue

average s

BA

Bank's Acceptance

baby bond

100

back office

back-dating

back door financing

back door listing

back-end load

(Front-end load)

back simulation

(historical simulation method)

back spead

backtest

Back-to-back

back-to-back credit

back-to-back loan

back up

Backvrardated

Backwardation

backward induction

bad debt

bad delivery

balance

balanced budget

balanced fund

(1)(2)(3)

(1)

(2)(3)

(4)

balance of trade

of trade deficit)

balance on current account

=+

ballooning

balloon maturity

balloon payment

10

5000 55000

bank accommodation

bank bill/draft

bank check

360

bank discount yield

360

bank draft

bank bill

banker's acceptance bill

banking syndicate

(Glass-Steagall Act)

bank interest

bank line

bank loan

bank money

bank note

bank of commercial

Bank overdraft

bank rate

bank reconciliation

bank reserves

bank run

bankruptcy

bankruptcy cost

( ABS)

bar chart

barbell-bullet analysis

(1)

(2)(3)

(4)

bargaining power of suppliers

(1)

(2)(3)

barometer stock

barrier option

barrier price

(1)(2)(3)

(4)(5)(6)

barrier to competition

barrier to entry

barter

base

(base period)(base price)

basebuilding

base case

base period

=

basic earning power

1

basic yield

basis

basis accounting

basis grade

Basis of an asset

1 0. 01% 1%

bp

basis point model 100 100

1% 5. 75 5.81

6

1

basis price

basis risk

basis srvap

Basket options -

basket purchase

Bayes'formula

Bayes'theorem

BD form BD

bear

bearer

bearer bond

bearer secutity

bear floater

bear hug

bear market

bear raid

bear spread

bear squeeze

before-tax profit

ex-ante

behaviroral finance

bellvrether bond

30

bells and whistles

bellvrether stock

belovr par

benchmark

benchmark bills

( Fannie Mae)

1

benchmark bond

benchmark error

benchmark notes

(Fannie Mae) 5 10

benchmark portfolio

beneficial owner

beneficiary

benefit principle |J

benefits paid

O 1

bernoulli trial

best-case scenario

best effort

Beta(B)

betterment

biased expectations

bid

bid and asked

bid-asked spread

bid bond

bidding up

bid in competition

bid price

Big Board

1792

bilateral arbitrage

bilateral netting

bill of exchange

bill rate

binary option

binomial distribution

n

pko1 - p l-p n

k q n p n 1

binomial model

n x

binomial probability function

n

binominal tree

bird-in-the-hand theory

1 1

black market

Black-Scholes formula

( Fisher Black)(Myron Scholes) 1973

blanket mortgage

blanket order

blind pool

block

blocket

block houses

blocking

block order

l l

block trade/sale/transaction

1

blood bath

bloTving off

blue chip

Blue-sky laWs

board broker

board lot

100 1000

board of arbitration

board of directors

board of trade

boiler room

bond

bond categories

bond discount

bond-equivalent basis

2

bond-equivalent yield (BEY)

-9750) /9750365/180=5. 2%

bond fund

bond indenture

bond indexes

bond market

bond option

bond power

bond premium

bond rating

AAA D

bonds

bond

bond sinking fund

bond svrap

bond vrashing

bonus futures

book

book credit

1

book value of equity (or book value)

bootstrapping

borrower

borrower arbitrage

borrowed reserves

Boston interest

30

bottom

bottom fisher

bottom out

bottom-up investing

bought deal

boundary condition

boundary space

bourse

box plot

1 3

50% 3

1

box spread

brand name

brady bonds

breadth of market

break

breakaway gap

breakeven analysis

breakeven point

break fonvard

break point(BP)

( EBIT)

Bretton Woods

1944

Bretton Woods system

Breusch-Pagen test BP

bridge loan

bring out

broad market

broke-dealer

broken lot

100

broker

brokerage

brokerage account

brokerage house

broker associations/groups

brokered market

call money rate

broker's market

bubble company

bucketing

bucket shop

budget constraint

budget deficit

budget line

budget of balanced

budget of government

1

budget surplus

build-up method

bulge

bull

bulldog bond

bullet loan

bullet bond/maturity

bullion

bull market

bull pool

bull spread

bundling unbundling

bunds

buoyant

business cycle

GDP

business ethics

business expenses

1

business-interruption insurance

business risk

business segment

butterfly shifts

butterfly spread

buy-and-hold str'ategy

buy at best

buyback

buyer

buyer s market

buying hedge

buying on margin

buying outright

buying power

buy price

buy minus

buy on bid

buy order

buyout

buy-side analyst

by-product

calendar spread

call

call auction

(Fannie Mae) 5 10

(1)5

(2)5 (3) 10 (4) 10

callable bond/securities

(Freddie Mac)

callability

call date

call market

call (option)

( LIBOR)

call premium

call price

call protection

call provision

call risk

(1)

(2)

call schedule

candlestick chart

cannibalization

cap

cap agreement

(1)

(2)

capacity

capital

capital account

(1)

(2)

capital allocation decision

capital appreciation

( Beta)

=

capital budgeting

(operating budget)

capital charge

capital composition

capital consumption

capitaJ deepening

capital flight

capital formation

capital gain

capitaJ improvement

capitalism

capital issues

capitalization

capitalized

capitalized interest

capital lease

(1)(2)

(3) (4)

90%

capital loss

capital market

(SML)

capital markets

capital-output ratio

( GNP)

capital preservation

capital ratio

capital rationing

capital stock

capital structure

(1)(2)

(3)(4)

capitaJ leases

capital widening

caplet

f3

capped floaters

capped swap

cappmg

cap rate

cap risk

carry

20%

-25%

carrying amount

IEl;

book valuecarrying value

carrying broker

carrying charge

carrying value

1

book valuecarrying amount

cartel

carve-out

cash

cash account

cash-and-carry arbitrage

(carry-and-cash arbitrage)

cash budget

cash commodity

cash delivery

cash discount

cash dividend

cash drag

cash equivalents

cash flow yield

cash inflow

cash market

6

3 4 6 9

cash method of accounting

cash oufflow

cash ratio

cash reserves

cash selection

cash settlement

cash substitute

catch-up effect

catalyst

CD equivalent yield CD

360 rMM=HPY(360/t) t

HPY

ceiling

central bank

central tendency

certain world

certificate

certificate of compliance

S&L

( FPA)

30 ( CRE)

( AICPA)

ceteris paribus

chain rule of forecasting

1

66

C

change in demand

change in supply

character

characteristic line

charge

( debit)

chart

charter

Chartered FinanciaIAnalyst (CFA~)

CFA institute

67

C

charting

chartist

chart of accounts

chattel

Chebyshev's inequality

o s >I

check

checking accounts

1948

68

C

Chicago Mercantile Exchange (CME)

Chinese Market

choice

chooser option

as-you-like-it option

chumming

churning

China Wall

fire wall

circuit breaker

69

C

civilian labor force

16 16

claim account

claim

class

class midpoint

classical economics 8

18 19

1776

classical economists

classical theories

clean price

70

C

clearing

clearing firm

clearing house

clearing margin

clearing market

clearing member

clearing system

clientele Effect

Cliquet option

closed-end fund

NAV

71

C

closed-end investment company

closeout netting

closing

(1)(2)

(3)

(4)

closing book

closing entries

closing price

closing quote

closing quote

closing price

cluster sampling

72

C

CMT rate CMT

Coase theorem

code of ethics

coefficient of determination

coefficient of variation (CV)

coincident indicators

colnsurance

coinsurance clause

cointegrated

collar

collar agreement

73

C

collar hedge

collateral

collateralize

Asset-Backed Security

( ABS)

collateralized loan

collateral trust bonds

collection ratio

collective bargaining

74

C

collective decision making

collusion

collusive oligopoly

combination

n k k

Ck" 2 r

1 j!r

combination matching

Horizon Matching

combined interest rate and currency svrap (CIRCUS)

command economy

commercial bank

75

C

commercial credit

commercial discounts

commercial Joan

CommerciaIPaper (CP)

90

commission

commission brokers

commission house

commission rates

commitment fee

commodity

76

C

commodity forward

commodity fund

commodity futures

commodity money

commodity pool

commodity swap

77

C

commodity trading advisor

NPV

NPV (EAA)

common-size statement

common stock

companion tranches

PAC-

support

trancheS

company fundamental factors

company share-related factors

comparable analysis

78

C

comparative advantage

( absolute

advantage)

comparative financial statements

comparative statics

compensating balance

compensation fund

competition

competitive bid

competitive environment

competitive equilibrium

79

C

competitive market

competitive price

competitive strategy

complement

( substitute)

S S Sc

completed contract method

complete market

completeness fund

complete portfolio

80

C

( dilutive)

compliance programs

(1)

(2)

(3)

component percentages

composite

composite depreciatin

1 ( group

depreciation)

Composite measure

compound entry

(simple entry)

compounding

compounding frequencies

compound interest

81

C

compound journal entry

compound entry

compound option

compounding period

1 1

compound option model

n n

n period moving average=X+X l++X-/n

concealment

concentration ratio

concession

82

C

conditional convergence

conditional heteroskedasticity

conditional probability

conditional variance

condor spread

confidence interval

confidence level

l-a

conflicts to clients and prospects

AMIR AIMR

conflicts to employer

AIMR AIMR

83

C

conforming mortgage

8026

congenerlc merger

conglomerate company

conglomerate merger

conservatism

consignee

consignment

consignor

consistency

consistent estimator

consistent probability

C

(consolidated income statement)

consolidated mortgage

consolidation loan

consolidation method

consolidation phase

constant-cost industry

constant dollars

Po=D1(k-g) Di k

g

Constant-Maturity SWap or CMT swap

85

C

Constant Proportion Portfolio Insurance (CPPI)

Stock Exposure=m(Assets - Floor)

Stock Exposure m Assets Floor

m 2 100 90

2(100-90) -20 80

constant returns to scale

construction in processs

construction loan

( clients policy statement)

construction-in-progress

consumer credit

consumer's risk

}

consumer surplus

y

C

consumption

consumption asset

consumption function

C-f(y)

consumption opportunity constraint

contagion theory

contango

contestable market

contingency table

contingent claims

contingent immunization

87

C

contingent interest

contingent liability

contingent order

Continual monitoring

continuing earnings

(underlying earnings)

continued bond

continuously compounded

continuous market

Continuous time

contra account

1

j

contract grades

contraction phase

contraction risk

n

pass-through(1)

MBSs

(2)

contract market

contract price

contract rate

mortgage rate

contractual rate

contrarian

contributed capital

89

C

contributions

contributory negligence

control account

control chart

control premium

controlling interest

convergence

convertible debt

convenience sampling

convenience yield

conventional option

C

__-I__-._--____________---____

conversion

conversion factors

conversion premium

conversion price

conversion rate

conversion ratio

conversion value

converted price

convertible

convertible bond

91

C

convertible hedge

conversion security

convexity

convexity effect

cooked books

CooksD D

cooperative equilibrium

Copyright

core earnmgs

underlying earnings

corner

corporate bonds

92

C

Corporateor Within-Firmrisk

corporate reacquisition

corporation

AR

correcting heteroskedasticity

(1)(2)(Robust

Standard Errors)

correcting multicollinearity

correlation

l

-1 0

93

C

correlation analysis

correlation coefficient

-1. 00 +1. 00 x

y x y

corridor swap

cost approach

cost average

cost-benefit analysis

cost curve

cost focus

cost leadership

cost of capital

cost of carry

94

C

cost of debt

cost parity

cost principle

cost-push inflation

cost recovery

cost valuation

cosurety

95

C

counter-cyclical securities

countercyclical policy

counterparty

counter-trend trading

counting principles

country Beta

Country risk

coupon

coupon bonds

coupon date

96

C

coupon frequencies

coupon rate

coupon stripping

coupon strips

coupon reinvestment risk

coupon yield

covarlance

covariance stationary

(1)(2)(3)

covenant

cover

covariance matrix

97

C

covariance stationary

coverage ratio

covered arbitrage

7% 10% 4% 10%

covered call

7% 10% 4% 10%

1% covered arbitrage

covered interest differential

covered margin

covered option

covered person

(AIMR)(CFA)(CFA)

98

C

covermg

crash

crawling peg

credit

credit agreement

credit analysis

credit card

99

C

credit card security

credit department

credit derivative

credit enhancement

credit event

credit exposure

credit memo/note

credit metrics

JP 1977 4

VaR

creditor

credit rating

100

C

credit sale

credit spread

credit swap

credit unions

I

VAR

Credit-linked notes

critical value

C

P(-C<x<C)=

cross elasticity of demand

cross hedge

101

cross order

crossover price

crossover rate

cross-product netting

cross-rate

cross-referencing

cross-sectional analysis

cross-sectional comparison

cross-sectional data

102

C

cross-sectional return studies

cross shareholding

cross trading

cross-sectional data

cross-sectional analysis

crossover prlce

crosstabulation

Crowding-out effect

X X x

F=Pjr<

cumulative dividend

cumulative

relative frequency distribution.

103

C

cumulative preferred stock

cumulative relative frequency

cumulative

frequency distribution.

curb exchange

curb trading

currency

currency

baSlS SWap o

currency appreciation

currency arbitrage

currency

annulty SWap o

currency board

(1)

(2)(3)

100%

C

currency depreciation

currency exposure

currency forward

currency option

currency hedging

currency in circulation

currency-option bond

currency risk

currency selection

currency swap

currency wareants

current account

105

C

CurrentAsset (CA)

current capital

working

capital

current cost

current debt

current face

current income

current issue

C

current maturity

10 6

4

current/noncurrent method E

current price

( spot price)(cash

price)

current rate

current ratio

current value account

current yield

curtailment

curvature

cushion bond

cushion spread

custodians

107

C

customer list

cut price

cutting a loss

cyclical business

cyclical change

cyclical company

cyclical stock

beta

cyclical unemployment

108

D

D

daily adjustable tax exempt securities

VaR

daily price limit

daily settlement

data mining/snooping

data set

data-snooping

data-snooping bias

dated date

date of declaration

date of maturity

date of record

date of trade

date processing

dating

dawn raid

day loans

day order

day-to-day repo

day trade

day trader

deadweight loss

110

D

dealer

dealer bank

dealer loan

dealer market

OTC

dealer paper

deal screening

debentures

debenture stock

debenture bond

debit

debit discount

debit spread

D

debt and equity securities available-for-sale

debt-equity ratio

debt-equity swap

debt financing

debtor

debt ratio

(debt to asset)

(debt to equity)

debt securities

debt service

deciles

112

D

decision rule

declaration date

1

decreasing-cost industry

dedication

deduction

deep bid

113

D

default

default premium

default rate

default risk

defeasance

defensive company

defensive stock

114

D

deferral method

deferral of costs

deferred account

deferred annuity

deferred asset

deferred bond

deferred call

deferred charges

deferred bond

deferred payment note

115

deferred swap

deferred stock

deferred taxes

deficit

deficit financing

deficit spending

116

D

deflating

deflation

degree of confidence

=

delinquency

delist

delivery

delivery biD

117

D

delivery day

delivery month

delivery notice

delivery option

delivery point

delivery price

Delphi method

Delta

Delta - DV

PV P

Delta hedge

VaRDelta-gamma

D

VaR(Delta)

Delta neutral

demand

demand-and-supply analysis

demand curve

demand deposits

demand loan

demand mortgage

demand note

demand price

119

D

demand-pull inflation

demographic trend

demography

denomination

Dependent

dependent events

dependent variable

r=f(x)y x

depletion

depletion allowance

deposit

deposit account

120

D

depository institutions

depreciable cost

depreciable value

depreciation

depreciation accounting

depreciation fund

1

depreciation method

1

depreciation of a currency

depreciation of an asset

depreciation schedule

1

121

D

depression

depth

depth of market

derivative assets

derivatives

derivatives dealers

derivative instrument

derivative security

derived demand

descending tops

descriptive statistics

D

Designated order turnauound (DOT)

detachable warrant

detecting heteroskedasticity

(1) Breusch-Pagen

(2)(Scatter Plot)

(3) F-Test F-Test

detecting multicollinearity

(1)(2) T-test

F-Test (3)

detecting seasonality

AR (1) 12

(1)(Scatter Plot); (2)

Durbin-Wat son

devaluation

devalued

development cost

diagonal spread

D

differential swap

differential

differential duty

differential expectations

differentiated products

differentiation

differentiation parity

diff svraps

rate-differential swap

diffusion index

digested securities

digital option

124

D

dilution

dilutive securities

direct earnings

direct financing

direct method

(indirect method)

direct paper

direct placement

direct quote

DC/FC

(indirect quotation)

direct reduction mortgage

D

direct tax

dirty float

dirty price

(clean price)

disbursement

discontinued operations

discount

discount amortization

discount basis

discount bond

126

D

discount broker

Discounted Cash Flow (DCF) method

discounted cash flow (DCF) techniques

discounted value

discounting

discount instrument

127

D

Discount insterest

discount market

discount margin

discount on securities

discount period

discount rate

discount yield

360

discouraged workers

discrete time

discretionary account

128

D

distress securities

distress selling

distribution date

distribution-free method

distribution

distributing syndicate

distributor

divergence

diversification

diversification benefits

diversified company

130

D

discretionary fiscal policy

discretionary trust

discriminant analysis

discrimination

disecononues of scale

disequilibrium

disinflation

disintermediation

dispersion

disposable income

disposal value

dissaving

129

D

diversified holding company

diversifiable risk

divestiture

dividend

dividend arrearages

dividend capture

dividend exclusion

dividend in arrears

M&M

dividend payout ratio

dividend policy

(1)(2)(3)(4)

dividend protection

131

D

dividend account

dividend in arrears

dividend yield

division oflabor

dollar bonds

132

D

dollar-denominated issue

dollar duration

100 bp

bp

dollar interest

=

/360

dollar safety margin

dollar-weighted return

(IRR)(time-weighted return)

domicile

dominant stategy

double-barreled in security

double bottom

1 1 1 (salvage value)

double drain

double entry

doubling option

D

double top

65

30 20 15

Dow Jones bond average

6

Dow Jones commodity futures index

12

Dow Jones IndustriaIAverage (DJIA)

30

Dow Jones transportation average

20

Dow Jones utilities average

15

down-and-in option

down-and-out option

downgrade

downgrade risk

down reversal

downside variance

134

D

downtick

dorvnstreaming

downstream merger

downward-sloping demand

downturn

DOWPAC

8

Dow theory

1

draining reserves

drawdown

drawing account

drop-lock bond

135

D

Dual-currency bond

dual-currency issue

dual-indexed floater

2

dual trading

due diligence

due-on-sale clause

dummy variable

O 1

dumping

136

D

duopoly

DuPont analysis

DuPont system

ROE ROE (1)

(2)(3)

durable goods

duration

(modified duration)

duration-convexity approach

duration matching

duration strategy

10 10

Durbin-Watson statistic DW

D =

(et - et_i )2

et2

i=l

Dutch auction

137

D

duty to employer

AIMR

dynamic hedging

Delta

dynamic true growth model

( r>k

m>l)

138

E

E

EAFT index

(MSCD)

early exercise

early stage

early-stage investment

earned income

earned surplus

earnmgs

earnings growth rate (g)

earmngs momentum

E

earnings multiplier model

earnings multiplier

earnlngs power

earnlngsquality

earnlngs surprise

earnings statement

earnings test

easy-money policy

econometrics

E

economic earnings

economic efficiency

(1)

(2)

economlc exposure

(annountting exposure)

economic goods

economic goodwill

economic indicators

GDP

economic life

economic profit

economic regulation

economic risk

economics

economic surplus

141

E

economic theory

economies of scale

(diseconomies of scale)

economies of scope

econonuzing behavior

Edwards-Bell-Ohlson model

EffectiveAnnuaIYield (EAY)

365

EAR=(1+ HPY)365/-1 HPY t

effective convexity

effective duration

142

E

effective interest

efficiency

efficient diversification

efficient frontier

efficient portfolio

elasticity

1%

elasticity of an option

1%

143

E

elasticity of demand

elasticity of supply

electronic trading

element 1

embedded option

embezzlement

emerging market

empirical duration

empirical probability

empirical rule

1 2 3

empirical test

E

employed

1974

ESOP

employment discrimination

employment-to-population ratio

16 16 16 16

ending inventory

ending-wealth value

end-of-the-month option

endorsement

endowment funds

145

E

enhanced derivatives products companies (EDPC) (or special purpose vehicles [SPVs])

EnterpriseValue (EV)

entity 1

entrepreneur

entrepreneurship

entry barriers

equality of variance

equation of exchange

MV=PTM V P T

1911

equilibrium

146

E

equilibrium for a business firm

equilibrium price

equimarginal rinciple

Equitzing cash

equitizing long-short

equity

equity basket

equity capital

equity charge

equity collar

147

E

equity derivative

equity forward

equity financing

equity kicker

equity-linked debt

equity method

20%-50%

equity mutual fund

equity options

equity swap

500

equity turnover

148

E

EAA

equivalent annual yield

1+

12 1

equivalent taxable rate

=

1-

error autocorrelation

error term

escalator clause

COLA

escrowed-to-maturity bonds

estimate

estimated liabilities

estimated useful life

149

E

1

estimation

estimator

Euribor

Euro

Eurobonds

Eurocurrency

Eurocurrency market

Eurodollar bonds

Eurodollar CDs

150

E

Eurodollar

Eurodollar market

European Monetary System

(American option)

European terms

FC/US$

(American terms quotation)

European Union (EU)

1957 (Treaty of Roam)

( EEC)

Europe Australia Far East index (EAFE index)

even lot

100 1000 5000

round lot

event

event-driven fund

event risk

event study

EV to EBITDA EV/EBITDA

ex-ante

(ex post)

ex ante alpha

excess kurtosis

excess reserves

excess return

exchange

exchangeable bond

exchange clearinghouse

152

E

against actualsex-pit

transactionversus cash transaction

exchange gain or loss

exchange-listed derivative

exchange membership

exchange of borroxing

exchange option

exchange rate

1.5 l

1.5

exchange rate risk

excise tax

exclusion principle

53

E

exclusions

ex-dividend

ex-dividend date

efficient frontiers

Model)

executive stock option

exercise limit

exercise value

intrinsic value

exhaustive

exhaustive events

154

E

exit

exotic option

expansion project

expectation

expectation hypothesis

expectational arbitrage

155

E

Expected Return( ER)

expected value

E X

E(x)=P() xi P(x,)

expected value of a variable

expenditure approach

GDP GDP

expenditure multiplier

GDP

expenditure

expenditure multiplier

1 (1-MPC)

expense

expense accounts

experience rating

experimental unit

156

E

experimentwise Type I error rate

expiration

expiration date

expiry

ex-pit transaction

explicit cost

explicit transactions

exponential smoothing

exponential weighting

r

t-l <1

exports

ex-post

157

E

(ex ante)

exposure

extendable bond

extendable swap

extended CAPM

CAPM CAPM

extension risk

extension svrap

external auditor

external debt

external disecononues

external econonues

external efficiency

158

E

external equity

external factors

externality

Extraordinary item

extraordinary repairs

extra risk

VaR

ex-warrants (XW)

159

F

F

face amount/value

factor

1 0

factor analysis

factor model

factor portfolio

1 0

factor push analysis

factorial experiment

i 1 0

160

F

Factorial

4 1=4321=24

factors of production

fair dealing

fair game

fair value

fallacy of composition

Fannie Mae

Federal National

Mortgage Association

FASB statements

fat tails

1993

161

F

7

federal funds rate

12

12

12

1913

feedback theory

fiat

162

F

fiat money

fictitious trading

fidelity bond

fiduciary

fiduciary account

Fiduciary call

fiduciary duties

fill

filter rule

final dividend

final good

163

F

finance company

financial account

financial assets

financial bond

financial derivatives

financial engineering

financial futures

financial instrument

F

financial intermediary

finance leasing

financial leverage

EBIT/(EBIT -I)

financial management

financial merger

financial ratio

financial risk

financial statement

financial structure

165

F

financing activities

fire vrall

China wall

firm

2

firm-specific risk

first-differencing

Y=X-X

First- InFirst- Out (FIFO)

first-order correlation

166

F

first par call date

fiscal policy

fiscal year

fiscal-monetary mix

Fisher effect

i r+

five-number summary

1 3

fixed annuity

fixed asset

plant asset

fixed asset turnover ratio

=

167

F

fixed rate

fixed exchange rate regime

Fixed-income forward

Fixed-income investments

fixed liability

fixed rate

fixed exchange rate

168

F

fixed-rate perpetual preferred stock

CBOE

floating exchange rate

flexible exchange rate system

flight to quality

flotation cost

flexible exchange rate

floating interest rate

( LIBOR)

Floating Rate Note (FRN)

169

F

floating rate tranche

Floating-rate loan

( LIBOR)

floating rate bondfloating

rate tranche tranche

floating rate tranche

( LIBOR)

floor

floor agreement

(1)

(2)

floor brokers

floor price

floor trader

floored swap

floorlet

170

F

Flotation costF

flow through

flow

flow effect

flower bond

fluctuation limit

F.OBdestination

F.OBshipping point

focus

footnotes

force majeure

forced conversion

171

F

forced liquidation

forecasting

1977

foreign bond

foreign currency

172

F

foreign exchange controls 0

Forex

( foreign exchange)

forward

forward contract

forvrard differential

173

F

forward interest rate

forward market

forward premium

forward P/E

leading P/Eprospective P/E

forward price

forward purchase

forward rate

forward sale

174

F

forward swap

foundation

fourth market

fractile

quantile

fractional-reserve banking

franchise

franchise factor

franchise value

P/E P/E = P/E

Franco Modigliani

1956

MM

175

F

fraudulent financial reporting

=+ 1

+

Free Cash Flovr to the Firm (FCFF)

=EBIT (1-)

+(EBIT)=

=++

free cash flovr to the firm model

freely floating

free market

free rider

F

freight out expense

frequency distribution

frequency polygon

frictionaJ unemployment

( structural unemployment)(cyclical

unemployment)

friendly merge

fringe benefits

front-end load

(back-end load)

front running

F-statistic F-

F- F-

full carry

F

full carry market

Full-costing

full disclosure

full employment

(structural unemployment)

(frictional unemployment) 94%-95%

dirty price

full replication

(1)

(2)(3)(4)

fully diluted earnings per share

functional currency

fundamental analysis

(technical analysis)

178

F

fundamental factor models

fundamentalist

fundamentals

fund of funds

fungibility

future

future market

futures contract

futures exchange

179

F

( present value)

futures fund

FutureslndustryAssociation (FIA)

futures option

futures price

FX swap

180

G

gain

G

galloping inflation

hyperinflationgalloping inflation

game theory

Gamma

ADe,

Delta Gamma=A/:

f

P

Gamma hedge

delta gamma

delta

Gamma risk

(Delta)

Garman-kohlhagen model

gap analysis

gap option

GDP GDP

General Agreement on Tariffs and Trade (GATT)

181

G

general collateral agreement

general control

general equilibrium

general journal

(special journal)

general ledger

general lien

(particular lien)

general linear model

y= Po +PiZi +P222++ppZp +8

general loan and collateral agreement

( FASB)

182

G

general management trust

GeneraJ obligation bond (GO)

(revenue bond)

general obligations debt

General overhead

general partners

(limited partners)

General price index -

general property

( GAAP)

Generic

( plain-vanilla)

generic competitive strategies

generlc securities

183

G

Gensaki

Gensaki rate

geographical arbitrage

geometric average

n 2

Geometric Brownian motion

n n x Y,/XY

giffen good

gifting phase

gift tax

gilt-edged securities

Ginnie Mae

Government National

Mortgage Association

184

G

give up

glamour stocks

global bond

GIPS CFA Institute

( AIRM)

globalization

GLOBEX

13

GNP deflator

GNP GNP

GNP gap

GNP GNP GNP

GNP

185

G

go-go fund

golng concern

going-concern assumption

going-concern value

going long

going short

gold bonds

gold certificate

golden parachute

gold fixmg

5

186

G

F(1)

(2)(3)

gold hoarding

gold standard

(1)(2)

(3)

Good This Week order(GTW)

GDP

GDP

goodwill

go public

Gordon model

go short

government bills

1

1 87

G

government bonds

5

government consumption

government debt

government spending

AE G

Government Sponsored Entities (GSE)

grace period

grade

1934 -

Graham-Dodd method

grant date

grantee

188

G

grantor

gray chips

gray market

green index

10

greenmail

Gresham's law

gross

gross mcome

gross investment

gross lease

gross margin/profit

189

G

GDP

=

gross profit percentage

gross sales

gross spread

7%-8%

gross yield

grouped data

Group depreciation

1

G

L composite depreciation)

Group of Seven (G7)7

7 7

Group ofThirty 30

group sale

growmg perpetuity

growth company

growth fund

A/A

growth phase

growth rate

(NNP)

growth stock

191

G

P/E

guaranteed account

guaranteed bond

guaranteed spread

192

H

H

haircut finance

85%

85%

half-hedge option

100

hammering the market

handle

910

ll09/33 11010/33

handling charge

Hang Seng index

33

hard currency

hardening

heaVy market

193

H

hedge

hedge accounting

hedge fund

hedger

hedge ratio

hedging

held- to- maturity securities

heteroskedasticity

hidden assets

H

high-grade bonds

AAA AA

AAA AA

high-grade bonds

high-quality stock

high-yield bond

hinge

1 25 3 75

high-low option

histogram

historical cost

historical method

historical rate

historical simulation

195

H

historical volatility

historical cost

H-Model H

hold harmless

holdback

holding company

A B A B

holding cost

holding effect

196

H

holding period

( HPY)

Holding Period YieldHPY

homogenization

homogenous expectation

homoskedasticity

horizon analysis

horizon matching

combination

matclung

horizontal merger

horizontal equity

( vertical

equity)

horizontal spread

calendar

197

H

spread

host

hostile takeover

hot collateral

special collateral

human capital

human resources

hung up

hurdle rate

hybrid asset

hybrid REITs

hybrid securities

n x

hyperinflation

198

H

hypothecated stock

hypothecation

hypothesis

hypothesis testing

100

immunization

impact lag

impairment

imperfect competitor

imperfect information

implementation shortfall

implicit costs

implicit-cost elements

200

I

implied duration

implied volatility

implied yield

Import Quota(IQ)

imports

imprest basis

imprest funds

improvement

imputed interest

in-advance svrap

201

incidence

incidence of a tax

incidencetax incidence

mcome

income account

income approach

(1)

(2)

GDP GDP

income basis

pretax income

income beneficiaries

income bonds

income effect

202

income elasticity

income fund

income mobility

income policy

income property

income risk

income tax

203

I

income tax payable

inconsistent probabilities

increasing cost

increasing-cost industry

indenture

independent

independent audit

independent events

P (AI B)=P

(A) P(B l A)=P(B)

independent good

204

I

independent projects

independent samples

independent variable

index

index arbitrage

index fund

index futures

indexing

index-linked bond

205

index model

index option

indifference analysis

indifference curve

indirect method

indirect quote

FC/DC

indMdualinvestement

industrial property

206

I

industry

industry attractiveness

industry classification

( P/E)

=

industry life-cycle

industry structure

5

inertial inflation

infant industry

inferential statistics

207

inferior good

(Normal goods)

infinite period dividend discount model

Gordon model

inflation

inflationary gap

infationary premium

inflation rate

(1)

(2)(3) GDP

inflation risk

inflation tax

influential observation

information

208

I

inflation-adjusted principal

inflationaJry premium

in-ind transgers

initial margin

5%

innovation

209

I

in-option

input controJ

input growth

N/N K/K

input Jist

insider information

insider trading

installment option

installment sales

210

I

institutional investor

lnsurance

lnsurance company

insured bonds

insuring

intangible assets

intent

interbank market

intercept

intercommodity spread

intercompany transaction

inter-dealer brokers

211

I

interdelivery spread

interest

interest bond

interest cost

(PBO)

interest coverage ratio

interest differential

interest expense

interest on interest

CMO

interest-only strips

interest-only strips

CMO

Interest Only (IO)

interest period

interest rate

212

l

( LIBOR)

( LIBOR)

interest rate forward

(forwed rate agreement)

interest rate futures contract

213

I

( JohnKeynes) 1923

Interest rate put

interim period

interval

intermediate goods

214

I

internal audit

internal auditor

internal control

internalizing an externality

75

international bond

(1)

(2)(3)(4)

(5)(6)(7)(8)

(9)(10)(11)

(12)

international CAPM

215

International Commodities Clearing House (ICCH)

international diversification

nominal rate f)

international investing

1946 3 8

1969

(Association oflntemational Bond DealersAIBD)

International Swap Dealers Association (ISDA)

1985 2

international trade

216

interpolation formula

InterquartileRang (IQR)

3 1

Interval

interval estimate

interval scale

(nominal scale)

(ordinal scale)(ratio scale)

intervention

in-the-money

in-the-money option

intracommodity spread

intrinsic value

217

Introducing Broker (IB)

Invention

inventory

merchandise inventory

inventory cost

inventory investment

inventory profit

inventory shrinkage

inventory turnover

Inverse floater

inverted market

218

I

investability

(1)

(2)(3)

investing

investment

investment advisor

investment analysis

investment asset

investment bank

investment company

219

investment constraint

investment grade

AAA BBB

investment-grade bonds

( Moody) Baa Baa BBB BBB

investment horizon

investment objectives

investment portfolio

I

investment process

investment strategy

investment value

investor-s life cycle

1776

invisible supply

involuntary bankruptcy

inward transportation

irregular component

IRR rule

island reversal

issuance test

issued shares

issued stock

( outstanding stock)

(treasury stock)

issue prlce

issuer

itemized deduction

January effect -

j-curve effect J

J J

Jensen measure

jobber

job lot

(1923)(1930)

( 1936)

Johnson-Shad Agreement

CFIE SEC 1982

joint account

joint bond

223

J

joint float

joint probability

X=Y= X= y=

F(x)=(X<zY<y)

joint venture

journal

journal entry

journalizing

judgement sampling

10

jump volatility

junior bond

junior mortgage

junior refunding

J

5 1 5 1

junk bonds

( Moody) Baa Baa BBB BBB

junior securities

justified P/E

K

K

kappa

10

kerb dealing

key industry

keying of entries

Keynesian economlcs

Keynesian effect

Keynesian equilibrium

kickback

kicker

226

K

CMO

knocked down

knock-in option

knock-out option

Kruskal-Wallis text

k

kurtosis

( leptokurtic)

(mesokurtic)(platykurtic)

L

labeling

L

labor force

16 16

labor force participation rate

16 16

labor market

labor supply

labor union

Laffer curve

A.B. Laffer

O O 100%

OC

B D Laffer

O

C

lag

lagging ind]icators

228

L

laissez-faire capitalism

Lambda

lapsed option

Laspeyres index

last sale

latent defect

later-stage investment

law of demand

law of supply

leading indicators

leading P/E

forward P/Eprospective P/E

lead manager

LEAPS

lease

leasehold

leasehold improvements

lease-purchase agreement

least-cost rule

ledger

left-hand financing

legal asset

legal capital

legal list

legal risk

231

L

legal tender

lender

lending securities

leptokurtic

(mesokurtic)(platykurtic)

Less Developed Countrys (LDCs)

lessee

lessor

letter bond

letter of credit

232

L

Jetter of guarantee

Jetter of indemnification

level of significance

0

leverage

leveraged

Leveraged Buy Out (LBO)

leveraged company

leveraged lease

leveraged recapitalization

(1)

233

L

(2)(3)

leverage ratio

liabilities

liability method

liberalism

libertarianism

LIBOR LIBOR

license

licensing

Iien

life annuity

life income

L

( general partners)

Jimited partnership

( General Partnership)

Jimit move

limit order

Jimit price

limit up

linear association

Linear interpolation

linear regression

=a bX X

Y

linear trend

Y= Bo+B+et=l23T Y

t Bo Y Be

236

L

Iife of contract

lift a leg

life cycles

LIFO liquidation

LIFO reserve

likelihood

limit

limit down

limited discretion

Iimited liability

(unlimited liability)

limited liability company

limited partner

235

L

t

line of credit

liquid

liquid asset

liquid liability

liquidated damage

Iiquidating market

liquidation-only trading

liquidating value

liquidation

Iiquidation value

liquidity discount

liquidity theory

237

L

liquid market

liquidity

liquidity premium

liquidity ratio

liquidity risk

listed option

listed securities

Listed stock

listing

load fund

loanable fund

238

L

loan amortization

loan commitment

loan crowd

loaned flat

loan-to-value ratio

local

local bill

locked-in

locked market

lockup

239

L

Logit

log-linear model

In

(Y t)= Ba +B1t +ett=1,2,3,,T

Log-Iog regression modeJ

lognormal distribution

logrolling

1919

1 3 6 LIBOR

1773 7

long

240

L

long bond

10

long call

long futures

long hedge

buying hedge

long- Iived asset

long position

long put

(Dynamic Long-run growth Model)(Expansion Model)

(Negative growth Model)

Long run (in production)

241

L

long-short investing

(1)

(2)(3) Beta

long squeeze

long stock

long-term asset

1

long-term capital losses

1

Long-term EquityAnticiPation Securities (LEAPS)

Long-termhigh-priority goal

long-term liability/debt

10

long-term solvency

long run

( short

run)

look-ahead bias

lookback option

242

L

lookback call option

lookforward option

Lorenz curve

loss

lot

Lower bound

Lower of Cost or Market (LCM)

lower-priority goal

low-load fund

3%4%

Low Of Cost Or Market (LOCOM)

Low-regula r-dividend-plus-extras

lump sum

luxury goods

243

L

1

(necessity)(inferior goods)

M

M

Macaulay duration

macroecononuc factor

macroecononucs

macro funds

maintenance margin

managed float

Managed futures

management accounting

M

Management and advisory firm

MD&A

management effect

management fee

management report

mandated benefit

Mann-Whitney-Wilcoxon test

manufacturing company

margm

246

M

margin account

marginal

i

marginal benefit

Marginal Cost

marginal principle

marginal probability

(unconditional probability)

marginal product

B

(C)

(Y)MPC=CY

M

Marginal Propensity to Import (MPI)

GDP

Marginal Propensity to Save (MPS)

MarginaIRevenue (MR)

( marginal

revenue)(marginal product)

marginal tax rate (MTR)

1

MarginaIUtility (MU)

margin buying

1934

margin call

margin deposit

M

margm error

margin transaction

market

marketability

marketability discount

marketable securities

market-based forecast

market-book ratio

market correction

market economy

249

M

market efficiency

market equilibrium

market failure

market impact

market index

market maker

market model

i Rt=Q+BR+eiQi= i

B t= i R==

M

market on close order

30 60

market-on-openlng

marketor Betarisk

market order

market organization

market portfolio

market power

market price

market value

market price of risk

market rate

market risk

price risk

251

M

market risk neutralization

market securities

market segmentation

market sentiment

market share

market structure

market timer

market timing

market value

252

M

Market Value Added (MVA)

market-value clause

market-value-weighted series

Markowitz

1952

1952

markup pricing

martingale

(ISDA)

matador bonds

253

M

matched sample

matching principle

matching

materiality convention

mature phase

mature stage

maturity date

maturity risk

30

Maturity risk premium (MRP)

maturity strategy

10 10

254

M

maturity value

mean

MAD=lx,-xlz

mean differences

mean reversion

mean square

F

Means-tested income transfers

mean-variance analysis

(1)

(2)

(3)(4)

mean-variance criterion

255

M

measurement error

measurement scales

mechanic-s lien

median

BBB

medium of exchange

medium-term bond

2 10

medium-term loan

2 3

Medium-Term Note (MTN)

9 10

member rate

membership on an exchange

256

M

merchandise inventory

inventorr

merchandising company

Merge andAcquisition (M&A) approach

Merge(Acquisition)

merger

Merton Miller

M&M

M&M

Merton model

Black-Scholes

mesokurtic

(leptokurtic)platykurtic

method based on forecasted fundamentals

method of comparables

method of comparables

Michael Porter

microeconomics

middleman

middle office

Milton Friedman

1976

(1959)<(1962)(1969)

mimicking portfolio

mlmmum prlce

( FASB)(ABO)

258

M

minimum-variance frontier

rmnlmum wage

min-max option

minority discount

minority interests

minority shareholder

50%

mirrored fund

( onshore fund)(offshore

fund)

mismatch risk

mlsprlclng

M

srepresentation

mixed economy

modal interval

mode

model

model risk

1 1

modified convexity

modified duration

1

1+

Modified IRR (MIRR)

260

M

Molodovsky effect Molodovsky

momentary run

momentum indicators

(EBITDA)

monetarism

Ml(money supply) (Ml)

Ml (1)(2)

(3)

M2(money supply)(M2)

M2 Ml (1)(2) 10

(3)

monetarists

monetary assets

monetary base

monetary liabilities

monetary method

261

M

monetary neutrality

monetary policy

monetary tools

money

money fund

money market

1

money market fund

120

M2

money market mutual fund

262

M

IOU

money market yield (or CD equivalent yield)

360 360

r-HPY(360/t)

money purchase pension plan

money supply

MlM2M3

money-supply effect

money-supply multiplier

monopoly

monopolistic competition

monopoly

(1)

(2)

monopsony

263

M

moral hazard problem

mortality tables

mortgage

mortgage bonds

mortgagee

mortgage loan

mortgage payable

mortgage rate

contract rate

264

M

mortgage REITs

mosaic theory

moving average

200

M2

Ml

multi-asset option

multicollinearity

CAPM CAPM

multifactor model

(1)

(2)

P/E

(3)

265

M

GDP

(1)(2)

(3)

multinomial population

y

MultipleIRRs (M )

multiple R

Y Y

multiple regression

266

M

multiple step-up note

multiplication rule

k ni

nl*n2* n3* n4*nk

multiplication rule for probabilities

A B B A B

P (AB) -P (AIB)P(B)

multiplicative times series model

I=CiSi x/i

I=Si x/

multiplier

multiplier effect

multiplier model

multivariate distribution

multivariate normal

267

M

municipal bondMuni

municipaJ bond interest

municipaJ securities

municipal strip

mutual fund

mutually exclusive

268

N

N

naked option

naked call

naked position

Nash equilibrium

national debt

national income

( NNP)

national-income and -product accounting

national saving

269

N

natural monopoly

natural resources

3 6

nearby contract

near money

near-the-money

necessity

1(luxury

goods)(inferior goods)

negative amortization

negative carry

270

N

negative cash flow

negative covenant

(positive covenant)

negative convexity

negative goodwill

negative interest

negative leverage

negatively skewed

>>(positively skewed)

positively skewed

>>(negatively skewed)

negative pledge clause

neglected-firm effect

271

N

negotiable certificate of deposit

negotiable security

negotiated sales

negotiating bank

neoclassical growth theory

net asset

owner's equity

Net Asset Value

1

Net Cash Flow (NCF)

N

GNP

Net Exports (NX)

net income

net interest

net Jease

net loss

( GNP)

Net Operating Income (NOI)

273

N

3 15

net payment

net position

net proceed

net profit

=

Net Realizable Value (NRV)

net sales

netting

274

N

netting by novation

net worth

neutrality

new issue

n factoriaJ N

1 NN!=N(N-1)(N-2)21 0!-1

no-arbitrage assumption

no-arbitrage bounds

no-arbitrage principle

node

no-growth company

275

N

no-growth value per share

no-load fund

nominal account

nominal distribution

x (x)=1 1e p22 2 X

((J ) X NN(p)(

nominal Gross Domestic Product (GDP)

nominal price

nominal rate

nominal scale

(ordinal

(Interval scale)(ratio scale)

nominal spread

( YTM)

276

N

nominal values

nominal variables

nominal yield

nonactivist strategy

nonagency securities

Fannie Mae

( Freddie Mac)(Ginnie Mae)

non-amortizing asset

noncallable bond

(callable bond)

noncash item

1

non competitive bid

nonconforming mortgage

nondollar-denominated issue

N

nonhuman resources

non-investment-grade bonds

high yield

bond

nonlinear relation

nonmonetary method

nonoperating income

nonparametric methods

( parametric

test)

nonparametric test

(parametric test)

non-pay-related plans

nonprobabilistic sampling

nonprofit organization

nonrecourse loan

N

nonrefundable

nonsampling error

nonsystematic risk

non-US-pay bond

NSF

normal profit

=1+

1+-1

nominal spread

non-activist view

noncompetitive bid

279

N

noncumulative preferred stock

nonpublic information

no-par stock

normal backwardation

normaJ contango

normal distribution

95% 2

normal good

(inferior goods)

normal market

normal portfolio

280

N

normal volatility

normal yield curve

normative economics

1994

2004

nostro account

note receivable

notes

1 10

notes payable

notes receivable

notice day

notice of claim

281

N

notice of suit

notional amount

notional principal

not statistically significant

np Chartnp

n

NPV profile

NPV rule

nuIJ hypothesis

( alternative hypothesis)

number of days sales in receivable

365 365

282

O

O

objective probabilities

obligation

objectives

odd lot

100

1 99

off-balance sheet asset

offer

offering

offer price

ask price

off-market FRA

283

O

official reserves

(IMF)

off-market swap

offsetting

offsetting order

offshore fund

off-the-run issues

Okuns law

GNP

oligopolists

oligopoly

284

O

oligopsony

omnibus account

one-factor model

on-market FRA

onshore fund

on-the-run issues

on-the-run treasury

open account

open contract

open economy

285

O

open-end fund

NAV

open-end interest

open market

open outcry

open-end mortgage

opening price

operating asset

operating budget

(capital budget)

operating cash flows

operating capital

286

O

operating characteristic curve

operating cost

operating cycle

operating expense

operating exposure

operating income

operating lease

operating losses

operating leverage

operating management

operating merger

287

O

operating profitability ratios

( EBIT)=

operating reserve

operating statement

income statement

statement ofincome

operation income

opportunity cost

( sunk cost)

opportunity set

optimal portfolio

288

O

optimizer

optimum capacity

option

option buyer

option contract

option cost

option-free bond

option on futures

option on a futures contact

289

O

option on the physical

option orders

(1) Black-Scholes (2) Black

(3)

option seller

option series

option writer

options market

order-driven system

ordinal

290

O

ordinal scale

(nominal scale)(interval scale)(ratio scale)

orinal utility

A B A

ordinary annuity

ordinary business

original margin

1020%

Other Checkable Depoists (OCD)

Ml

other comprehensive income

other revenues

1

291

O

other things equal

1

outcome

outliers

out-of-sample test

out-of-the-money

out-of-the-money option

out-option

outperformance option

output control

outright position

outstanding shares

292

O

outstanding stock

out trade

overage

overbought

( oversold)

overfunded plan

overhead

overnight

overnight money

overnight repo/RP

overpriced

oversold

(overbought)

overweighted

293

O

Over-The-Counter (OTC)

overvalued

overweighted

owner's equity

294

P

P

Paasche index

paid- in capital

paid-up capital

paid-in surplus

paid-up capital

paid- in capital

paired comparisons test

paired observations

paper loss

paper profit

paradox of value

parallel loan

295

P

parallel shift

parameter

parametric test

t

(nonparametric)

par bond

parent corporation

50%

Paris arbitrage

partial-equilibrium analysis

participating bond

participating option

296

P

participating preference share

participation

participation certificate

particular lien

( general lien)

partitioning

partnership

partnership agreement

par value

par-value stock

passive management

passive management

pass-through security

297

P

patent

path dependence

path independence

payables

= 365

=

payback

PaybackPeriod (PBP)

payee

payer swaption

298

P

pay-fixed

pay-later ooption

payment date

payment-in-kind

payment netting

pay-related plans

payoff

payoff table/matrix

payout ratio

P chart P

peak

299

P

P/E effect

pegged

pegged price

peggmg

pension

pension fund

pension plan

P/E ratio

300

P

percentage-of-completion method

(completed contract

method)

percentiles

100

perfect collinearity

perfect hedge

perfect market

performance

performance bond

performance evaluation

performance fee

performance measurement

CFA Institute

301

P

performance shares

perks

period cost

periodicity

permanent account

temporary account

permanent difference 7J<,

(temporary difference)

permanent income hypothesis

Permutation |J

n r(r<=n)

( combination)

permutation formula 2 -2

n k k - r)!

perpetual bond

302

P

perpetuity

Persistent earnings

personal consumption

personal income

personal property

303

P

(real property)

personal savings rate

personal trust

( P/E)(EPS) PEG

Phillips curve

A *W

physical capital

physical count

Pigovian tax

pin risk

Pip

1 1%

pit

plagiarism

P

Plain-vanilla

LIBOR

plant asset

fixed asset

Plantproperty and equipment (PP&E)

platykurtic

(mesokurtic)

(platykurtic)

plow back

point

305

P

point estimate

(interval estimate)

point-and-figure chart

OX chart

poison-pill strategies

x

Poisson probability function

policy effect

policy-ineffectiveness theorem

policy statement

political risk

pooled

pooled variance

pooling-of-interest method

306

P

population

sample

population mean

pork-barrel legislation

Porter's 5 factors

portfolio

portfolio immunization

portfolio insurance

portfolio management

portfolio theory

307

P

position

position day

position limit

2000

position trader

positive carry

positive convexity

positive covenant

(negative covenent)

positive economics

positive leverage

308

P

positively skewed

>>(negatively skewed)

post-audit

posted price

posterior probability

(pniori probability)

posting

GNP

GNP

potential output

power of a test p

l-a

P

power of sale

(P)

(R)(A)(T) PRAT

prearranged trading

precision

predicted P/E

12

= 12

predicted values

X Y

preemptive right

preferred stock

Premium

premium bond

premium on bond

310

premium

prepaid expense

prepaid income

prepayment

prepayment option

prepayment rate

prepayment risk

prepayment speed

prerefunded bonds

prerefunded municipal bondS.

prerefunded municipal bonds

311

P

prerefunded bonds

Present (price) value of a basis point (PVBP)

(future value)

present value interest factor

N 0 1(1+Y)N I/Y

N

present value model

Present Value of Growth Opportunities (PVGO)

preservation of confidentiality

pretax income

income before income tax

(taxable income)

pretax operating rate of return on total asset

price ceiling

312

P

price compression

price continuity

price controls

price discovery

price discrimination

priced risk

price-driven market

price elasticity of demand

P

price flexibility

price floor

price index

price-inelastic demand

1

price limits

price momentum

price multiple

price relative

100

price risk

PriceSales (P/S)

314

P

1 2

price-sales ratio

price searchers

(1)

(2)(3)

(4)

Price sensitivity hedge ratio

price takers

PBRf l 1

P/E

P/E

(0.01%)

price volatility

315

price-weighted index

pricing practice

primary distribution

primary market

AAA Aaa

Principal (par value)

principal-agent problem

principal strip

priority of transactions

AIMR~ AIMR~

AIMR~

AIMR~

316

P

prior probabilities

(posterior probability)

prior-period adjustments

prisoner's dilemma

private accounting

private good

private investment

50

private placement

private saving

privately owned

317

P

probability

A P (A)

probability density function

probability distribution

probability function

P(X=x)2 p(x)

probit model

0-1

processlng controls

producer's risk

producer surplus

product costs

product differentiation

318

P

production function

productivity growth

productivity

S

professional corporation

professional sconduct

profit

profit margin

profit maximization

profitability

profitability evaluation

39

P

pro forma statement

program trading

progressive tax

AIMR~

promissory note

prompt date

320

P

property

property dividend

property rights

Proportional tax

proprietorship

prospective P/E

prospectus

protectionism

P

protective covenant

protective put

proxy

pseudo-random numbers

public accounting

public bond

public-choice analysis

322

P

public goods

public offering

publicly owned

pull-to- par

purcbase allowance

purchase discount

purchase fund

1916 (Gustav Cassel)

(Absolute PPP)

(Relative PPP)

purchasing power risk

P

purchase method

purchase returns

purchases account

purchases journal

purchasing power

pure competition

f3

putable bond

put bond

put-call-forward parity

put-call parity -

put date

put option

put price

put provision

put rights

put swaption

p-Value p-

p

a

pyranuding

Q

q ratio q

q 1

quadratic optimization

qualified opinion

qualitative analysis

qualitative data

qualitative factors

qualitative variable

quality of earnings

Q

quality option

quality stock

quantitative analysis

quantitative data

quantitative factors

quantitative variable

quantity demanded

MV=PQ M (GNP)V P

Q

quantity theory of money

GDP

quantity index

327

Q

quantity risk

quantity supplied

quanto

quanto option

quartiles

25 50 75 1 2 3 4

25%

quasi-arbitrage

quick ratio

quintiles

quota

328

Q

quotation

quoted margin

329

R

R

range notes

R chart

rag stock

random number

0 1

random variable

random walk

range

330

R

range floater

range forward

raider

rapid amortization

rate-differential swap

diff swap

rate duration

rate of return

rate of unemployment

=+

R

100%

rating agency

rating evaluation

ratio

ratio analysis

ratio scale

( nominal scale)

rational-expectations hypothesis

rationing

ratio scales

332

R

ratio spread

R&D in-progress

reacquired stock

reaction

real accounts

real assets

real capital

real balance effect

real capital

real assets

real earnings

real income

real estate

R

Real Estate Investment Trusts( REITs)

(1)(REIT) REIT

REIT REIT

REIT REIT

REIT (2) Frank

Russell Company (FRC) National Council of Real Estate Investment

Fiduciaries (NCREIF)

(RD)

real estate tax

(real exchange rate

ridk)(purchasing power risk)

reaJ GDP GDP

GDP

real gross nationaJ product

GNP GNP= GNP/GNP

realincome

334

R

real earnings

real interest rate

realization account

(unrealized

capital gains/losses)

realized compound yield

realized return

realized yield

real options

real price

real value

real property

(personal property)

real rate

335

R

real return

=[1+1+]-1

real values

real value

real price

real variables

real wages

rebalancing

rebate

recapitalization

receivables

receivables turnover

336

R

receive-fixed

recelver

receiver swaption

receiver's sWaption

recession

GNP

reciprocal business

recogniition lag

reconstitution

record date 0

337

R

recourse

recovery

recovery rate

redeem

redeemable stock

redemption notice

receiver svraption

redemption price

5% 10%

redemption yield

redemption value

rediscount

338

R

reference bills

(Freddie Mac)

1 1

reference notes

(Freddie Mac)

2 10

reference rate

referral fees

refinancing = -

refunding

refunding issue

Regime

regional bank

regional fund

refunding mortgage

339

R

registered as to principal only

registered bond

registered check

registered form

registered instrument

registered bond

registered option trader

registered security

registered traders

registration statement

regression analysis

340

R

regression coefficients

y=a+bx

a b

regression equation

regressive tax

regular dividends

regulation

regulation A A

( small issuer)

regulation B B

regulation C C

regulation D D

regulation E E

regulation F F

341

R

regulation G G

regulation Q Q

regulation T T

regulation T call T

regulation U U

regulation W W

regulation X X

regulation Z Z

regulatory risk

reinvestment income

reinvestment rate

342

R

reinvestment risk

relationship trading

relative dispersion

relative efficiency

relative frequency

n A k

k/nP(A) -k/n

relative-strength index

70 30

relative value

relative yield spread

relevance

relevant cost

1

reliability

( FASB)

reliability factor

remainder beneficial

remainder men

remargining

Rembrandt bonds

344

R

remeasurement

3 5

20 30

rentier

rent seeking

reorganIZation

reorganization bond

repeat-purchase item

replacement analysis

replacement cost

(historical cost)

replacement cost accounting

replacement project analysis

R

1

replacement rate

replacement value

( replacement cost)

repo

repurchase

agreement

reportable position

reportable segment

10%

repo rate

reporting currency

report form

( account form)

reproduction cost

repo

repurchase date

repurchase price

R

required yield

required reserve

required return

required yield

required rate of return

requisitionist

rescind

reserves

reserve accounting

reserve bank

reserve fund

reserve ratio

347

R

reserve requirement

reset date

reset notes

reset option

residual analysis

residual autocorrelations

residual claim

residual claimants

348

R

residual interest

residual effect

residual plot

residual security

residual tranche

residual value

salvage valueterminal value

resistance

resistance level

resource

resource allocation

resource market

resource mobility

resource prices

349

R

responsibilities of supervisors

resting order

restricted surplus

(1)

(2)(3)

restricted stock

restructuring charges

1

retailer

350

R

Retained Earnings/income/profits (RE)

retractable

retractalbe bond

return

1

return of capital

Return On Investment (ROI)

return on

invested capital (ROIC)

return on invested capital(ROIC)

351

R

return on net worth

returns to scale

revaluation equity

revaluation

revenue bond

352

R

revenue recognition

revenues

revenue share

reverse a swap

reverse conversion

reversing entries

reverse repo

353

R

reverse repurchase agreement

reverse repo

reversing trade

reversion level

Rho Rho

1%

4.10%

4.00%

rigged market

riggmg

right

right of redemption

354

R

right of rescission

3

rights issue

right-to-work laws

ring

rmglng up

rising bottoms

rising trend channel

risk

risk allocation

risk analysis

355

R

risk arbitrage

risk aversion

risk budgeting

risk capital

risk-free asset

risk-free rate

risk governance

risk management

risk-minimizing hedge

risk-neutral probabilities

risk-neutral valuation

risk-neutral world

risk lover

(risk averter)

356

R

risk of inflation

RiskPremium (RP)

risk premium hypothsis

risk rating

risk-retrun trade-off

risk reward

risk spreading

risky asset

rivalness

robust

357

R

roller coaster

rollover

12 6

round lot

100 1000 5000

even lot

rolling strip hedge

rolling up

rollover mortgage

2 3

Roll's critique

( CAPM)

CAPM Roll CAPM

roll-up fund

358

R

round turn

Op RE[Rp] P

runs test

rule of 20 20 IJ

20

rule of 70 70

x 70/x

rule of 72 72

72

rule of 78 78

12 11

1 12 78 78

359

R

runaway inflation

run on a bank

runs test

360

S

sacrifice ratio

1%

saddled

safety-first rules

safe harbor

sale of receivables

sales allowance

sales discount

sales journal

sales return

sales revenue

sales tax

361

S

sales-type lease

Sallie Mae

Student Loan Marketing Association (SLMA)

salvage value

residual valueterminal value

Samaritan's dilemma

same-day substitution

sample space

sample

( population)

sample kurtosis

sample mean

sample point

362

S

sample selection bias

sample size

sample skewness

sample variance

1

sampling

sampling distribution

sampling error

sampling plan

sampling unit

363

S

samurai bond

sandwich lease

Sandwich spread

saving

J

saving function

savings account

savings deposit

Say's Law

scale

scalper

scalping

364

S

scarcity

scatter diagram

scatter plot

scatter plot

scatter diagram

scenario analysis

(sensitivity analysis)

scenario writing

scientific thinlang

scrap value

scratch trade

seagull

seasonal component

365

S

seasonlity

seasonal swap

seasoned issue

seasoned security

90

seats

secondary distribution

secondary effects

secondary market

second-pass regression

366

sector rotation strategy

sector

Sector/qualitye ect

P/E

secured debt

securities

securitization

securitized

367

security analysis

security market

CAPM

(CML)

security selection decision

seed money

seed investment

seed stage

segment disclosure

segregated securities

self-correcting mechanisms

368

self-dealing

seller's market

sell-side analyst

selling away

selling concession

selling flat

selling group

selling hedge

short hedge

selling short

sell out

369

S

semiannual compounding

semi-logarithmic chart

semi-logarithmic scales

(XY)(XInY)

( weak-form)(strong-form)

semi-variable cost

2% 1000 2%

semlvarlance

senior bond

senior mortgage

senior securities

sensitivity analysis

( scenario

analysis)

Separately Traded Registered Interest and Principal Security (STRIPS)

370

S

separation theorem

serial bonds

serially correlated

t

serial obligation bond

series of options

series bond

service fee

settlement

settlement options

settlement period

settlement price

settlement risk

371

S

settling

severance pay

shadow price

share

share broker

shareholder

stockholder

shareholders' equity

shark repellent

Sharpe ratio/measure

'_

p 0 p

shelf registration

2

shell company

372

S

shirlang

shogun bond

short

short position

shortage

short bond

short coupon

6

short covering

shortfall risk

short futures

short hedge

selling hedge

short interest

short position

short

short run

(long run)

Short-Run Average Cost curve (SRAC/SAC)

U

short sale

short selling

short sale rule

short selling

short sale

shortsighteddness effect

(1)

(2)

short-termlncome trust

90

374

short-term liquidity

short-term loan

short-term security

shout option

shutdown

side-by-side trading

Sigma

signal

signaling theory

significant influence

20% 50%

(equity method

accounting)

375

S

significance level

sight draft

sign test

silver standard

simple arbitrage

simple entry

compound entry

simple interest

simple random sample

( stratified

sampling)(systematic sampling)

simple random sampling

simple return

simulation

376

S

simulation trial

single liability

single option

single-payment loan

(multiple

step income statement)

single-country fund

single-index model

single-tax movement

19

377

sinlang fund

sinlang fund bond

size effect

skewed

skewness

skip-day settlement

slope

slope coefficient

slope

small cap

378

S

small-firm effect

smart money

smoothing constant

socialism

(1)

(2)

social responsibility

soft currency

soft arbitrage

soft dollars

soft money

soft market

379

S

sole proprietorship

solvency

source document

source of fund

sovereign bonds

sovereign debt

sovereign risk

7

Special Claim On Residual Equity (SCORE)

special collateral

hot collateral

380

S

Special Drawing Right (SDR)

special-interest issue

specialist

special item

special journals

(general journal)

Special Purpose Corporation (SPC)

(AAA AA )

SPE

(ABS)

special redemption price

381

S

specialty fund

speculation

speculative company

speculative stock

speculative-grade bond

(Moody) Baa BBB

speculator

1993 500

S&P 500 index 500

500

spike

382

S

spending phase

Spin-off

split-off

split-up

spot

spot commodity

spot rate

spot market

cash market

spot price

spot rate

spot exchange rate

S

spot yield curve

spread

spreader

spread risk

spreadsheet modeling

spread arbitrage

spreading

spreading

spread arbitrage

spread Joan

4

spread position

spread products

spread sector

spread trade

S

spread transaction

spurious correlation

squeeze

stack hedge

stagflation

standard cost

standard deviation

standard error

(n)

== 2z

/=1

Standardized Unexpected Earnings (SUE)

0 1

Standard&Poor's

385

S

400 20 40

500

standard&Poor's rating

AAAAAA BBB

A+ C

D

standardized beta beta

standardized residual

standardizing

standby commitment

stated value

(CFO)(CFI)(CFF)

statement of earnings

statement of income

386

S

statement of retained income

statement of stockholders'equity

( dynamic

asset allocation)

static spread

statistic

statistical inference

Statistically significant

statistics

stem-and-leaf display

step-up note

387

step-up swap

stickjump bonds

stockbroker

stock certificate

stock consolidation

(stcok split)

stock dividend

( cash dividends)

stockholder

shareholder

stockholder's equity

stock index

388

S

stock index option

stock index

stock options

stock power

stock repurchase

stock selection

stock split

(stcok consolidation)

389

S

Stop order

stop-out price

stop payment

stop yield

Storage

Store of value

straddle

0

straight bond

(callable bond)

straight line depreciation

1

straight-line amortization

S

straight-line interest

strangle

Strap

strap option

5 10

strategic planning

stratified simple random sampling

street broker

street name

391

S

street price

stress price

exerclse pnce

stress testing

strike

(1)(2)

strike price

exercise

Price

strip

Strip hedge

strip option

stripped bond

stripped of coupon

stripped treasuries

392

S

(weak-form)(senu-strong-form)

stuck in the middle

( FFELP)

Student Loan Marketing Association (SLMA)

x~N(o1)Yx2(n) t=x it (n)

Student t

t Student t t

structural change

structural unemployment

( frictional

unemployment)(cyclical unemployment)

structured note

style analysis

style grid

393

S

i

subject market

subjective price

subjective method

submortgage

subjective probability

subordinated interest

subordinated debenture

subordination clause

subordinated debt

394

S

subrogation

subscriber

subscription price

subscription privilege

subscription

subsidiary company

51%

subsidy

substitutes

(complements)

substitution effect

substitution swap

SSE2

Sum of the Years' Digits method (SYD)

1

395

S

sunk cost

super dot

supermajority votes

supernormal growth

supershares

supply curve

supply of money

supply shock

supply-side economics

support level

support tranches

PAC-

396

S

supranational

surplus

( shortage)

survivorship bias

sushi bond

ROE

swap

swap arbitrage

swap bank

swap book

swap broker

397

S

swap dealer

swap facilitator

swap-linked notes

swap rate

swap spread

swaption

switching

Switching option

switch order

symmetallism

398

S

Synthetic index fund

synthetic instrument

synthetic option

Synthetic put

synthetic short

systematic Beta risk B

systematic factors

systematic risk

(unsystematic risk)

systematic sampling

n

(simple random sampling)(stratified sampling)

T

T

TAC interest-only Bond TAC

TAC

TAC

TAC principal-only bond TAC

TAC

TAC

Taccount T

T-

tail

99.88

0.88

tail hedge

take back

take down

take-or-pay contract

throughput arrangement

takeout

}

401

T

takeover

taker

tandem option

tangible asset

(intangible

assets)

tangible book value

P/B

tangible value

tap

1

tap CDs

beta

402

T

target (optimal)capitalstructure

tap system

target duration

target population

target price

target semideviation

target semivariance

tariff

tariff quota

taxable income

403

taxable-equivalent yield

1-

tax allocation

tax deferral

tax anticipation notes

tax-backed debt

tax base

tax cost

tax credits

tax deduction

tax deferral

tax

allocation

tax deferred annuity

taxes payable

tax evasion

T

tax incidence

tax exemption

tax-exempt securities

tax rate

tax return

tax revenue

tax risk

tax swap

t-Distribution t

(o1)Y~)(2(n) t=x~

t (n)

team production

405

technical analysis

fundamental analysis

technical correction

technical rally

technical divergence

technical indicators

technological advancement

technological change

technology

TED spread

temporal method

temporary account l

(permanent account)

temporary difference

T

(permanent difference)

temporary supernormal growth

tenancy at wilJ

tender

ten-forty 10-40

40 10

tender offer

tenor

term

term bond

term certificate

terminal market

terminal value

residual value

salvage value

termination date

term insurance

term issue

term loan

term mortgage

term premium

term repo/RP

term repurchase

agreement

term repurchase agreement

term repo/RP

terms of trade

term structure

term to maturity

testamentary trust

AR (1) AR

(2)(3)

testing individual coefficients using the t-test T-Test

T-Test j T-Test

test statistic

F=P+[Pt(RC)] P C

R t

Theta

thin market

third market

T

third-party account

third-party check

third-party guarantee

threat ofsubstitutes

three-point arbitrage

three-stage mode

throughput arrangement

tick

1% 1/32

tight market

tight-money policy

410

time arbitrage

time bargain

time deposit

timing difference

(permanent

difference)

time draft

time index

0

time line

time-period bias

time premium

time-series analysis

41

T

time-series data

timing option

time order

time premium

time series

time series data

time to expiration

412

T

time-weighted rate of return

dollar-weighted return

time-weighted return

1

timing option

to-arrive contract

Tobin's Q Q

token money

Top-down

(bottom-up approach)

top-down forecasting approach

topping out

touch option

total asset turnover

413

T

total cost

=

total dollar return

P (R) =P (RII)P(I)

+P (Rllc)P(f)

total probability rule for expected value

total product

total return

total revenue

Totten trust

414

T

tournament pay

tracking error

tracking portfolio

S&P500

tracking risk

trade balance

trade barrier

(1)(2)

trade deficit

traded flat

trade discount

trademark

trade-off theory

415

T

trade option

trade restriction

trade policy

trader

trade surplus

trading at discount

trading at a prenuum

trading down

trading effect

trading halt

trading instructions

trading range

416

T

trading rule

trading securities

trading turnover

trading up

12 =

12

tranche

transaction

transaction accounts

transactional demand

(precautionary demand)

transaction Cost (TC)

417

T

transaction exposure

transferable bond

transfer payment

transfer price

transferee

transfer tax

translation

translation exposure

accounting exposure

translation risk

418

T

Q

treasury bill(T-Bill)

1

( treasury bond)(treasury note)

100 3

treasury bond future

10 10

Treasury Bond( T-Bond)

10 (treasury bill)

(treasury note)

treasury coupon securities

1 10 10

treasury coupon strips

Treasurylnflation Protection Securities (TIPS)

1 10 ( treasury bill)

(treasury bond)

treasury note future

10 5 2

treasury principal strips

419

T

treasury securities

treasury stock

treasury strips

tree diagram

trend

Treynor's measure

trial balance 1

triangular arbitrage

420

T

triangular currency arbitrage

trickle-down theory

triple-witching hour

500 100

triple bottom

triple top

trough

( peak)

trust

(1)

(2)

(3)

trust company

trustee

trust fund

421

T

trustor

trust indenture

t-statistic t-

t t

t-Test t

t

turkey

turnover

turtle trade

twists

two-point arbitrage

Ho Ha Ho

Wo Wl Ho

Ho(one-tailed test)

two-stage Dividend Discount Model (DDM)

200

twenty-day period 20

twofer

two-period model

two-way rate

typeI error

Q

(type II error)

type II error

(type I error)

12B-1 mutual Fund 12B-1

1% 1%

12b-l fee 12b-l

12b-l

U

U

ultimate beneficiary

Unanticipated change

unanticipated inflation

(appropriated retained

earnings)

unbiasedness

( efficiency)(consistency)

unbiased predictor

unbundle

uncalled capital

uncollected funds

424

U

uncollectible account

unconditional heteroskedasticity

uncovered

uncovered call

naked call

uncovered writer

underbooked

undercapitalized

underfunded plan

underground economy

underlying

Underlying asset

U

underlying commodity

underlying mortgage

underlying variable

underlying

Underpriced

Undervalued

Underweighted

underwriter

underwriting

underwriting agreement

underwriting fee

underwriting syndicate

426

U

undistributed profit

unearned income

unearned revenue

unearned interest

unemployment

unemployment gap

GDP GDP GDP (GDP gap)

unemployment rate

16 65

uneven cash flow series

earnings surprise

uniform probability distribution

unilateral transfer

427

U

union

unitary elastic

1

unitary hedge ratio

1

unit depreciation

1

Unit elastic demand

1

0 1

unit of account

unit s-of-production

1

unit root

Yt - PY l+f=12p=l{ut

E(f)=0cov(f )2< s=012

univariate distribution

unleveraged program

50%

428

U

unlimited liability

(limited liability)

unlisted option

unlisted stock

unloading 0

unpaid dividend

unrealized appreciation

unrealized loss

unregistered instrument

Unsecrued bonds

debentures

unsecured debt

429

U

unsubordinated debenture

unsystematic risk

unusual or infrequent items

unweighted index

unwind

unwind a trade

up-and-in option

up-and-out option

upgrade

A

up reversal

430

U

upset price

upside

uptick

uptick-downtick raho

0.4 1

uptick rule

up transition probability

use of funds

AIMR~

CFA Chartered Financial AnalystTMCFA

CFA~ CFA

User charges

431

U

US-pay bond

USTreasury obligation

usury

utilitarianism

1ltility

432

V

N

valuation

valuation analysis

valuation allowance

valuation model

valuation process

valuation reserve

value

value added

9726 100

5% 100

433

V

Value chain

value date

value fund

value risk

value stocks

P/E

value-weighted index

variable

variable annuities

variable cost

434

V

90 CD 90 360

variable-rate mortgage

variable-rate securities

variable

variance

n

variation mar n

(margin call)

(variation margin)

Vega

Vega= V /Acjp

Vega hedge

delta gamma

435

V

Vega-neutral portfolio

velocity of money

vendor

vendor's lien

Venn diagram

venture capital

venture capitalist

verfiability

verification

GIPS

versus cash transaction

against actuals

Exchange-For-Physicals (EFP)ex-pit transaction

vertical equity

(horizontal equity)

436

V

vertical integration

vertical spread

V formation V

visible supply

30

volce

voidable contract

volatility

volatility risk

437

V

Volatility smile/skew

volume

volume discount

volume of trade

voluntary bankruptcy

voluntary liquidation

voluntary unemployment

voting right

voting stock

vulture fund

438

W

wage rate

walve

W

warehouse receipt (wr.)

warrant

warrant value

warranty

warranty liability

wash sale

wasting asset

watered stock

439

W

weak-form efficiency market hypothesis

( semi-strong-form)

( strong-form)

wealth

weekend effect

weighted average

1

weighted mean

Weighted-average Cost ofCapital (WACC)

WACC=Ka=1-+

+

Weighted Average Coupon (WAC)

weighted mean

1

weighted average

welfare economics

welfare state

19

well-diversified portfolio

when issued (wi) trades

white elephant

white knight

wholesaler

wide open

wide opening

widow-and-orphan stock

Wiam FSharpe

1964

willingness to pay

winding up

window dressing

winner-take-all game

withdrawal

withholding

withholding tax

without recourse

worked off

worlang asset

worlang capitaJ

working capital

current

capital

working capital ratio

current ratio

working capital turnover

work in process

world bank

(IBRD)

(IFC)

world investable wealth

1994 GATT 133

worst-case scenario

write

write-down

written-down value

write-off

writer

Writer of an option

write up

z Chart z

Yankee bonds

yield

yield curve

4 (1)(2)

(3)

(4)

yield curve risk

3

30

yield illusion

yield ratio

yield spread

yield to call

YTM

yield to put

yield to worst

Z bond

accrual bond

zero-base budgeting

zero basis

zero-beta portfolio

zero-cost coHar

zero-cost option

zero-coupon bond

J}|

zero-plus tick

zero-profit-point

zero-rate mortgage

zero-sum game

Zeta

1600 7

Z statistic