All Terms

Accident InsuranceCover risks of accidents
Act of GodEvents that happen outside human control such as natural disaster
Actuarial ScienceUsing mathematical and statistical methods to assess risk in insurance, finance and other industries and professions
Adam SmithAn influential thinker in economics. Considered as the ÒFather of modern economicsÓ
AgricultureFor farming use
Angel InvestorA person who provides capital for a new business or startup as a loan or ownership
AnnuityAn insurance and savings plan with regular payout that may terminate upon reaching zero value or death
ApartmentOne of many units in a building
ArchitectIn charge of plans, designs, and oversees the construction of buildings.
Asset ClassInvestment grouping
Asset-Backed / CollateralLoans backed or secured by recognised assets
AssignmentTransfer of policy rights
BanksWhere you can keep and borrow money. Common services include loans, deposits, remittance, credit cards and investments
BeneficiaryPerson entitled to receive insurance benefits
Benefit insuranceWhat must be paid regardless
BitcoinA virtual currency or cryptocurrency. Created online in 2008
Bond MarketIssuing, buying and selling, or related bond activities
BondsA loan with terms such as interest rate (%) and period (years)
BpsBasis Points.
Bretton Woods AgreementA 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.
BrokerageBuy and sell financial securities on public stock exchange
BungalowA stand-alone house
CableExchange rate between Pound and Dollar (GBP/USD)
Call OptionAn option to buy at an agreed price ($) and date, only if the option buyer wants to buy
Capital MarketMoney is gathered and arranged to be invested or allocated
Car InsuranceCover risks of car accidents
Cash ValueValue of insurance policy upon immediate termination
Causa proxima / proximate causeCause of loss must be covered and the dominant cause must not be excluded
CaveatA warning that action should not be taken without informing the person who gave the notice.
CDOsStands for Collateral Debt Obligations. Popularly known as sub-prime or credit-linked notes. CDOs is a package of loans
Central BanksGovernment body that manages the countryÕs currency, money supply and interest rates
Civil EngineerIn charge of design, construction, and maintenance of building
ClaimsRequest for payments as per terms of insurance policy
Classical EconomicsHow 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-insuranceSharing risks or payments
CommercialFor business, office and shops use
CommoditiesGoods or resources that can be traded
Commodity MarketBuying and selling of commodities
CondominiumBuilding with apartments, owned by individuals, with shared common areas.  May have facilities like swimming pool, gym, fitness corner, bbq pits
ContractorIn charge of day-to-day oversight of a construction site, vendors and trades and sending information
ConveyancingTransferring title deed to another
CreditBorrowing or Lending
Credit Default SwapsAn exchange of cash against credit or loan default
Critical illness InsuranceCovers risks of getting stated critical illness
CurrenciesMoney in respective countries
CurrenciesMoney in respective countries
Dealing RoomBuy and sell global financial assets, usually only for financial institutions
DebenturesA legal document to describe bonds & debts
DebtsSame as bonds. Corporate / accounting term
DeflationValue or price going down
DemandWhat people want
Demand & SupplyWhat people want and what is being produced
DerivativesInvestment instrument that derives result from another
Derivatives marketProviding instruments for the management of financial risks
DeveloperBuilding or renovation of land or existing building
Disability InsuranceCover risks of not being able to work due to disability
E-commerce Payment GatewayMaking payment for online transactions.
EconometricsUsing complex math to explain economics
EconomicsThe study of how to work with given resources.
EndowmentAn insurance and savings plan that pays a lump-sum upon maturity or upon death
EquilibriumWhat people want and what is being produced match, at a certain price.
EquitiesSame as shares. It originates from an accounting term (equities, liabilities, assets). Can be considered an asset class
ExchangeA public platform where people trade. It is centralised and is usually regulated
ExchangeA public platform where people trade. It is centralised and is regulated
Financial AdvisorInstitution or person that provides financial advice. These activities are usually regulated or governed and requires the institution and person to be licensed
Financial AssetsAssets, instruments or investments that are recognised in the financial system, and can be easily bought and sold or priced
Financial IntermediariesMedium or channel for money or financial assets pass through
Financial MarketMarketplace for buying and selling of any financial assets
Financial SystemPlacement or transfer of money
Fire InsuranceProtect risks of fire
Fiscal policyGovernment tax and spending policies.
FisherÕs EquationWhere nominal interest interest rate = inflation rate and real interest rate. Named after Irving Fisher
Fixed IncomeInvestments that gives regular payout such as bonds and preferred shares
ForeclosureLegal process of lender to recover the loan by selling the property
Foreign Exchange MarketBuying and selling of foreign exchange.
Foreign Exchange RateExchange rate between two currencies
ForexWhere you change a currency into another currency. Stands for Foreign Exchange
ForwardA private contract to exchange goods at an agreed price ($) and date
Forward MarketProviding non-standard and private forward contracts for trading at future dates.
FreeholdForever ownership to the right of land, building, property
Futures MarketProviding standard forward contracts for trading at future dates.
GDPThe total value of goods or services created. It stands for Gross Domestic Product.
General InsuranceNon-life insurance such as motor, travel and fire insurance
Grey MarketBefore actual trading starts. The phase between primary and secondary market.
Health InsuranceCover medical, hospital and surgical expenses
HedgeAn action taken to reduce or protect price movement of the investment
Hedge FundsInvestments that are unregulated where the funds to be invested anywhere, anyhow
Home EconomicsThe study of how housewives work with limited money in a small apartment, hungry husband, naughty kids, limited salt, eggs, oil and rice.
IndemnityWhat will be excluded
IndustrialFor production and manufacturing use
InflationValue or price going up
InstalmentRegular payment for loan
Insurable interestInsured must directly suffer from the loss.
InsuranceTransferring or protecting risk, usually with a payment
Insurance AgentA person who provides insurance advice and solutions
Insurance CoverageThe amount or value of risks to be covered
Insurance MarketRedistribute risks
Insurance PolicyAn insurance contract
InsuredWhat the insurance covers or protect
InsurerCompany that provides insurance
Interior DesignerDesign the inside of room or building
International Monetary FundPromote 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 BanksWhere 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 PolicyAn insurance policy with returns linked to investments
Keyman InsuranceCover stated risks of important person.  Example: Bruce Springsteen voice was LloydÕs for $6 million
Keynesian EconomicsWhen demand and supply goes wrong, government should step in: Reduce interest rate and increase infrastructure spending. By John Maynard Keynes.
Lag100K
LandlordThe owner of the land or property
LeaseholdTemporary ownership to the right of land, building, property
LeverageNumber of times of borrowing against asset
Life InsuranceCover the life of a person against death.
LiquidityBeing able to buy or sell an investment easily without affecting price movements
LoansYour money in banks being loaned or lent
LongBuy
Lucas CriticNaive to predict how government macro-policies will impact economy by using past datas.
Lump SumOne-time payment
M0Notes and Coins available
M1Notes and Coins available + Non-banks travellers check + fixed deposits + deposits with chequebook and savings
M2Notes and Coins available + Non-banks travellers check + fixed deposits + deposits with chequebooks + savings + time deposits < 100 K
M3Notes and Coins available + Non-banks travellers check + fixed deposits + deposits with chequebooks + savings + time deposits < 100 K + other liquid assets
MacroeconomicsWhen 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.
MBNotes and Coins available and in bank vault + Reserves
MicroeconomicsYou spend $2 today. Count the cents and dollars to know what you have spend this month or this year.
Monetary PolicyExpansionary: Less tax and more spending = more money in use. Contractionary: More tax and less spending = less money in use. Neutral: In-between
Money ChangerChange money from one currency to another
Money MarketShort-term investment in deposits, bonds or loans that can be easily converted to cash and is typically less than 1 year
Money MarketsShort-term debt financing and investments
Money SupplyAmount of money in the system. M1 ~ Money that can be used very quickly
MortgagePledging the property for a loan
Multiplier EffectMultiplier Effect
Mutual FundsA portfolio of investments managed by a company. Investors invest into the company
MZMNotes and Coins available + Non-banks travellers check + money market funds
Neo-Classical EconomicsHow a person maximise profits or returns by understanding demand and supply.
NominalCurrent value or market value
Non-participatingValues of savings insurance policy is pre-determined and is not subject to profit of loss.
OptionGiving an option to buy or sell at an agreed price ($) and date, only if the buyer of the option exercise his rights. You can be either buyer or seller of an option
OTCStands for Over-the-counter. Any trade that is private between two parties by a dealer, without going through a regulated exchange
OTCStands for Over-the-counter. Any trades that is private between two parties by a dealer, without going through a regulated exchange
ParticipatingSharing future profits or decreased in profits for the savings insurance policy
Philips CurveInventor of Philip Lightbulb
PipPercentage in Points
Policy HolderOwner of the insurance
Preferred or Preference Stocks / SharesSecond in rank to the ownership of the company, behind common stockholders or shareholders. Owners typically receive a fixed or high dividend payout
PremiumThe amount paid for the insurance
Primary MarketNew or first allocation of investments before buying and selling activities start
Private EquityPrivate investments into established businesses, companies, concepts or plans via equities or debts
Private Equity Ð Early StageInvestments that can be exited / sold within 5 to 7 Years.  Early refers to young
Private Equity Ð Late StageInvestments that can be exited / sold within 1 to 3 Years
Private Equity Ð Mid StageInvestments that can be exited / sold within 3 Ð 5 Years
Property AgentA person who buy or sell properties for customers
Put OptionAn option to sell at an agreed price ($) and date, only if the option buyer wants to sell
RealValue adjusted for inflation
Real EstateLand, properties and buildings
Real EstateLand and properties. Common zoning includes residential, commercial, office, agricultural, industrial
Regular PremiumRegular Payment
RegulatorTo ensure everyone follows the rule
ReinsuranceTransferring risk of company that provides insurance
ReinsurerCompany that provides reinsurance
Remittance ServicesTransfer money from one account to another (can be to another country)
RentTemporary use of place
RentalAmount to pay for renting the place
ResidentialFor living use
RidersAdditional insurance coverage added to a policy
Risk ManagementManaging risks
SavingsYour money deposited into banks
Secondary MarketBuying and selling or trading after new or first allocation
Seed FundingEarliest or first money invested into a new business. A common expression for startups
Semi-detached HouseTwo units with a wall in between
Shares / StocksOwnership of a company that can be determined by quantity. You can own 1,000 shares of HSBC Bank
ShortSell
Silicon ValleyNickname 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 PremiumOne-time payment
SOHOSouth of Houston or Small office / Home office.  A unit where for work and living
Stock MarketIssuing, buying and selling, or related share activities
Stocks or Company WarrantsSame as option. Issued by company itself
Strata TitleOwnership of units and shared ownership of common area
Structured NotesAn investment structure with a derivative
Structured WarrantsSame as option. Structured and issued by banks or investment banks
SubrogationInsurer has legal rights to recover damages to those who are liable for the insured, on behalf of the insured.
SupplyWhat is being produced
SwapsA private contract to exchange future cashflow
Term InsuranceLife insurance coverage with a specified period
Terraced HouseUnits in a continuous row with shared walls and no space in between
TPD InsuranceStands 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 RoomBuy and sell global financial assets, usually only for financial institutions. They may engage in holding positions, for hedging or speculative purposes
Travel InsuranceCover risks of travel
TreasuryManaging liquidity, returns, risks of all money and financial instruments in country or company
Underwritingassessing and deciding process for risks of an insurance policy
Unit TrustA 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 NationsGlobal organsiation to promote international co-operation
Universal LifeAn 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 fidesInsured and insurer are bound by a good faith bond of honesty and fairness. Material facts must be disclosed.
ValuationProcess of estimating what the property is worth
Venture CapitalInvestments into early-stage, high potential or startups where ideas or concepts may be new or risky
Whole-lifeAn insurance and savings plan with no maturity, and is payable upon withdrawal, termination or death.
World BankProvides loans to developing countries for infrastructure development. A subsidiary of United Nations. Founded in 1944 Bretton Woods Conference