All Terms

Accident Insurance Cover risks of accidents
Act of God Events that happen outside human control such as natural disaster
Actuarial Science Using mathematical and statistical methods to assess risk in insurance, finance and other industries and professions
Adam Smith An influential thinker in economics. Considered as the ÒFather of modern economicsÓ
Agriculture For farming use
Angel Investor A person who provides capital for a new business or startup as a loan or ownership
Annuity An insurance and savings plan with regular payout that may terminate upon reaching zero value or death
Apartment One of many units in a building
Architect In charge of plans, designs, and oversees the construction of buildings.
Asset Class Investment grouping
Asset-Backed / Collateral Loans backed or secured by recognised assets
Assignment Transfer of policy rights
Banks Where you can keep and borrow money. Common services include loans, deposits, remittance, credit cards and investments
Beneficiary Person entitled to receive insurance benefits
Benefit insurance What must be paid regardless
Bitcoin A virtual currency or cryptocurrency. Created online in 2008
Bond Market Issuing, buying and selling, or related bond activities
Bonds A loan with terms such as interest rate (%) and period (years)
Bps Basis Points.
Bretton Woods Agreement A global system for monetary and exchange rate management, pegging USD to Gold.  Developed at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire, from July 1 to July 22, 1944.
Brokerage Buy and sell financial securities on public stock exchange
Bungalow A stand-alone house
Cable Exchange rate between Pound and Dollar (GBP/USD)
Call Option An option to buy at an agreed price ($) and date, only if the option buyer wants to buy
Capital Market Money is gathered and arranged to be invested or allocated
Car Insurance Cover risks of car accidents
Cash Value Value of insurance policy upon immediate termination
Causa proxima / proximate cause Cause of loss must be covered and the dominant cause must not be excluded
Caveat A warning that action should not be taken without informing the person who gave the notice.
CDOs Stands for Collateral Debt Obligations. Popularly known as sub-prime or credit-linked notes. CDOs is a package of loans
Central Banks Government body that manages the countryÕs currency, money supply and interest rates
Civil Engineer In charge of design, construction, and maintenance of building
Claims Request for payments as per terms of insurance policy
Classical Economics How markets and economies work. Freedom, laissez-faire and free competition promotes growth.  Thinkers: Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Malthus and John Stuart Mill.
Co-insurance Sharing risks or payments
Commercial For business, office and shops use
Commodities Goods or resources that can be traded
Commodity Market Buying and selling of commodities
Condominium Building with apartments, owned by individuals, with shared common areas.  May have facilities like swimming pool, gym, fitness corner, bbq pits
Contractor In charge of day-to-day oversight of a construction site, vendors and trades and sending information
Conveyancing Transferring title deed to another
Credit Borrowing or Lending
Credit Default Swaps An exchange of cash against credit or loan default
Critical illness Insurance Covers risks of getting stated critical illness
Currencies Money in respective countries
Currencies Money in respective countries
Dealing Room Buy and sell global financial assets, usually only for financial institutions
Debentures A legal document to describe bonds & debts
Debts Same as bonds. Corporate / accounting term
Deflation Value or price going down
Demand What people want
Demand & Supply What people want and what is being produced
Derivatives Investment instrument that derives result from another
Derivatives market Providing instruments for the management of financial risks
Developer Building or renovation of land or existing building
Disability Insurance Cover risks of not being able to work due to disability
E-commerce Payment Gateway Making payment for online transactions.
Econometrics Using complex math to explain economics
Economics The study of how to work with given resources.
Endowment An insurance and savings plan that pays a lump-sum upon maturity or upon death
Equilibrium What people want and what is being produced match, at a certain price.
Equities Same as shares. It originates from an accounting term (equities, liabilities, assets). Can be considered an asset class
Exchange A public platform where people trade. It is centralised and is usually regulated
Exchange A public platform where people trade. It is centralised and is regulated
Financial Advisor Institution or person that provides financial advice. These activities are usually regulated or governed and requires the institution and person to be licensed
Financial Assets Assets, instruments or investments that are recognised in the financial system, and can be easily bought and sold or priced
Financial Intermediaries Medium or channel for money or financial assets pass through
Financial Market Marketplace for buying and selling of any financial assets
Financial System Placement or transfer of money
Fire Insurance Protect risks of fire
Fiscal policy Government tax and spending policies.
FisherÕs Equation Where nominal interest interest rate = inflation rate and real interest rate. Named after Irving Fisher
Fixed Income Investments that gives regular payout such as bonds and preferred shares
Foreclosure Legal process of lender to recover the loan by selling the property
Foreign Exchange Market Buying and selling of foreign exchange.
Foreign Exchange Rate Exchange rate between two currencies
Forex Where you change a currency into another currency. Stands for Foreign Exchange
Forward A private contract to exchange goods at an agreed price ($) and date
Forward Market Providing non-standard and private forward contracts for trading at future dates.
Freehold Forever ownership to the right of land, building, property
Futures Market Providing standard forward contracts for trading at future dates.
GDP The total value of goods or services created. It stands for Gross Domestic Product.
General Insurance Non-life insurance such as motor, travel and fire insurance
Grey Market Before actual trading starts. The phase between primary and secondary market.
Health Insurance Cover medical, hospital and surgical expenses
Hedge An action taken to reduce or protect price movement of the investment
Hedge Funds Investments that are unregulated where the funds to be invested anywhere, anyhow
Home Economics The study of how housewives work with limited money in a small apartment, hungry husband, naughty kids, limited salt, eggs, oil and rice.
Indemnity What will be excluded
Industrial For production and manufacturing use
Inflation Value or price going up
Instalment Regular payment for loan
Insurable interest Insured must directly suffer from the loss.
Insurance Transferring or protecting risk, usually with a payment
Insurance Agent A person who provides insurance advice and solutions
Insurance Coverage The amount or value of risks to be covered
Insurance Market Redistribute risks
Insurance Policy An insurance contract
Insured What the insurance covers or protect
Insurer Company that provides insurance
Interior Designer Design the inside of room or building
International Monetary Fund Promote economic co-operation, trade, employment, stable exchange rate and financial assistance to help with balance of payments (trade deficit). Founded in 1945 by 29 countries
Investment Banks Where businesses and companies can find capital in the form of equity or debt. Common services include underwriting for bonds and equities for IPOs, trading and investment activities.
Investment-linked Policy An insurance policy with returns linked to investments
Keyman Insurance Cover stated risks of important person.  Example: Bruce Springsteen voice was LloydÕs for $6 million
Keynesian Economics When demand and supply goes wrong, government should step in: Reduce interest rate and increase infrastructure spending. By John Maynard Keynes.
Lag 100K
Landlord The owner of the land or property
Leasehold Temporary ownership to the right of land, building, property
Leverage Number of times of borrowing against asset
Life Insurance Cover the life of a person against death.
Liquidity Being able to buy or sell an investment easily without affecting price movements
Loans Your money in banks being loaned or lent
Long Buy
Lucas Critic Naive to predict how government macro-policies will impact economy by using past datas.
Lump Sum One-time payment
M0 Notes and Coins available
M1 Notes and Coins available + Non-banks travellers check + fixed deposits + deposits with chequebook and savings
M2 Notes and Coins available + Non-banks travellers check + fixed deposits + deposits with chequebooks + savings + time deposits < 100 K
M3 Notes and Coins available + Non-banks travellers check + fixed deposits + deposits with chequebooks + savings + time deposits < 100 K + other liquid assets
Macroeconomics When your mum gives you $200 a month or $2400 a year, you decide how to spend it.
Maritime Insurance is the earliest known insurance contract in 1347 Genoa, Italy.
MB Notes and Coins available and in bank vault + Reserves
Microeconomics You spend $2 today. Count the cents and dollars to know what you have spend this month or this year.
Monetary Policy Expansionary: Less tax and more spending = more money in use. Contractionary: More tax and less spending = less money in use. Neutral: In-between
Money Changer Change money from one currency to another
Money Market Short-term investment in deposits, bonds or loans that can be easily converted to cash and is typically less than 1 year
Money Markets Short-term debt financing and investments
Money Supply Amount of money in the system. M1 ~ Money that can be used very quickly
Mortgage Pledging the property for a loan
Multiplier Effect Multiplier Effect
Mutual Funds A portfolio of investments managed by a company. Investors invest into the company
MZM Notes and Coins available + Non-banks travellers check + money market funds
Neo-Classical Economics How a person maximise profits or returns by understanding demand and supply.
Nominal Current value or market value
Non-participating Values of savings insurance policy is pre-determined and is not subject to profit of loss.
Option Giving an option to buy or sell at an agreed price ($) and date, only if the buyer of the option exercise his rights. You can be either buyer or seller of an option
OTC Stands for Over-the-counter. Any trade that is private between two parties by a dealer, without going through a regulated exchange
OTC Stands for Over-the-counter. Any trades that is private between two parties by a dealer, without going through a regulated exchange
Participating Sharing future profits or decreased in profits for the savings insurance policy
Philips Curve Inventor of Philip Lightbulb
Pip Percentage in Points
Policy Holder Owner of the insurance
Preferred or Preference Stocks / Shares Second in rank to the ownership of the company, behind common stockholders or shareholders. Owners typically receive a fixed or high dividend payout
Premium The amount paid for the insurance
Primary Market New or first allocation of investments before buying and selling activities start
Private Equity Private investments into established businesses, companies, concepts or plans via equities or debts
Private Equity Ð Early Stage Investments that can be exited / sold within 5 to 7 Years.  Early refers to young
Private Equity Ð Late Stage Investments that can be exited / sold within 1 to 3 Years
Private Equity Ð Mid Stage Investments that can be exited / sold within 3 Ð 5 Years
Property Agent A person who buy or sell properties for customers
Put Option An option to sell at an agreed price ($) and date, only if the option buyer wants to sell
Real Value adjusted for inflation
Real Estate Land, properties and buildings
Real Estate Land and properties. Common zoning includes residential, commercial, office, agricultural, industrial
Regular Premium Regular Payment
Regulator To ensure everyone follows the rule
Reinsurance Transferring risk of company that provides insurance
Reinsurer Company that provides reinsurance
Remittance Services Transfer money from one account to another (can be to another country)
Rent Temporary use of place
Rental Amount to pay for renting the place
Residential For living use
Riders Additional insurance coverage added to a policy
Risk Management Managing risks
Savings Your money deposited into banks
Secondary Market Buying and selling or trading after new or first allocation
Seed Funding Earliest or first money invested into a new business. A common expression for startups
Semi-detached House Two units with a wall in between
Shares / Stocks Ownership of a company that can be determined by quantity. You can own 1,000 shares of HSBC Bank
Short Sell
Silicon Valley Nickname for the southern area of San Francisco Bay, Northern California in US. A base for many of the worldÕs largest tech companies and startups
Single Premium One-time payment
SOHO South of Houston or Small office / Home office.  A unit where for work and living
Stock Market Issuing, buying and selling, or related share activities
Stocks or Company Warrants Same as option. Issued by company itself
Strata Title Ownership of units and shared ownership of common area
Structured Notes An investment structure with a derivative
Structured Warrants Same as option. Structured and issued by banks or investment banks
Subrogation Insurer has legal rights to recover damages to those who are liable for the insured, on behalf of the insured.
Supply What is being produced
Swaps A private contract to exchange future cashflow
Term Insurance Life insurance coverage with a specified period
Terraced House Units in a continuous row with shared walls and no space in between
TPD Insurance Stands for Total Permanent Disability. Cover risks of person who becomes permanently disabled.  Usually defined as: Loss of 2 eyes, 2 arms or 2 legs.
Trading Room Buy and sell global financial assets, usually only for financial institutions. They may engage in holding positions, for hedging or speculative purposes
Travel Insurance Cover risks of travel
Treasury Managing liquidity, returns, risks of all money and financial instruments in country or company
Underwriting assessing and deciding process for risks of an insurance policy
Unit Trust A portfolio of investments divided into units. The portfolio is placed under a trust* (a legal term). Hence the term Unit Trust. Investors invest into the units
United Nations Global organsiation to promote international co-operation
Universal Life An insurance and savings plan with regularly adjusted interested rate. No maturity, flexibility of withdrawal, and can be terminated or upon death
Utmost good faith / Uberrima fides Insured and insurer are bound by a good faith bond of honesty and fairness. Material facts must be disclosed.
Valuation Process of estimating what the property is worth
Venture Capital Investments into early-stage, high potential or startups where ideas or concepts may be new or risky
Whole-life An insurance and savings plan with no maturity, and is payable upon withdrawal, termination or death.
World Bank Provides loans to developing countries for infrastructure development. A subsidiary of United Nations. Founded in 1944 Bretton Woods Conference