actuarial Flashcards
actuarial
relating calculations of risk for assurance companies and pension funds.
enforcement
N. the process of making sure that ppl obey sth such as law or rule
obey
V. to act according to what you have been asked or ordered to do by someone in authority or to have according to rule, law or instruction
complicit
involved in or knowing about crime or some activity that is wrong
Eg: she was accused of being complicit in her husband’s death
financial statement
a report provided by a company for its shareholders and investors that shows details of its financial situation, and includes documents such as the profit and loss account and balance sheet
Eg. prepare/publish a financial statement There are various procedures that must be followed when preparing financial statements.
skepticism
N. doubt that something is true or useful:
collusion
Noun. the act of doing something secret or illegal with another person, company, etc. in order to deceive people:
There have been allegations of collusion between/among fund managers.
covenant
noun. a part of a formal written agreement in which it is stated what must or must not be done, or in which someone promises to do or pay something
Eg. Any loss of rent may be claimed as damages for breach of covenant (= failure to do as promised).
consolidate
V. to become or make something stronger or more successful:
Eg: Net assets rose to £758 million, consolidating the company’s position as a member of the FTSE 250 index.
downsize
V to make a company or organization smaller by reducing the number of people working for it:
Eg:to downsize your workforce/company
amalgamation
the combining of separate organizations to form a larger organization or group, or an organization or group formed in this way
Eg: amalgamation of sth The association was formed by the amalgamation of several regional environmental organizations.
acquiree
N. a company that has been bought by another company:
Eg: A company that acquires another company usually brings its own systems, processes, and culture to the acquiree.
dimension
N. a measurement of something in a particular direction, especially its height, length, or width:
Please specify the dimensions (= the height, length and width) of the room.
acquirer
N. a person or company that buys another company:
an acquirer of sth Over the past few years, he has been Eg: a single-minded acquirer of small Web-development agencies.
buyout
N. a situation in which a person or group buys most or all of the shares belonging to a company and so gets control of it:
lead/propose/negotiate a buyout As Managing Director, he led the buyout that created the firm three years ago.
myriad
a very large number of something:
Eg: a myriad of choices
And now myriads of bars and hotels are opening up along the coast.
pursuant
according to:
Eg: The fact that a person acted pursuant to an order of his government does not relieve him from responsibility under international law.
presumably
adv. used to say what you think is the likely situation:
- They can presumably afford to buy a bigger apartment.
- Presumably he just forgot to send the letter.
prospect
N. the possibility that something good might happen in the future:
- Is there any prospect of the weather improving?
- There seems little prospect of an end to the dispute.
asset
N. something that is owned by a person, company, or organization, such as money, property, or land:
-The company reported total assets worth $1.9 million.
have/hold/own assets You can hold assets offshore, such as bank accounts or property.
-acquire/buy/increase assets The parties will decide whether to buy assets or shares.
intact
adj. complete and in the original state:
- The church was destroyed in the bombing but the altar survived intact.
sell-off
N. a sale of an investment, such as shares in a company, that causes its value to fall
liquidation
to cause a business to close, so that its assets can be sold to pay its debts
dividend
N. (a part of) the profit of a company that is paid to the people who own shares in it:
-Dividends will be sent to shareholders.
empty shell
when you go for shit and nothing comes out
cherry-pick
V. to choose only the best or most suitable from a group of people or things:
-They cherry-picked the most promising potential customers and concentrated their efforts on them.
litigation
N. the process of causing a disagreement to be discussed in a court of law so that an official decision can be made about it:
The company has consistently denied responsibility, but it agreed to the settlement to avoid the expense of lengthy litigation.
Terminate
to end or to make something end:
The takeover talks terminated without agreement.
-How do I terminate my subscription?
demerger
a situation in which a company is divided into two or more parts, or in which a company is separated from a larger company:
-a demerger from sth The demerger of the restaurant from the hotel business will create two focused companies each with very exciting prospects.
spin-off
a new business created by separating part of a company, or the act of creating such a business:
-a spin-off from sth In Europe, most of the biggest internet companies are spin-offs from established firms.
intellectual property
N. someone’s idea, invention, creation, etc., that can be protected by law from being copied by someone else
shell corporation
company or corporation that exist only in paper and has no office no employees, but may have a bank account or may hold passive investment or be the registered owner of asset such as intellectual property
tax-evasion
N. illegal methods used by people or companies to reduce the tax they pay, or a particular situation where this happens:
-He was arrested in October on charges of tax evasion and fraud.
goodwill
N. the value to a company or organization of things that cannot be directly measured, for example, its good reputation or its customers’ loyalty:
-Charitable endeavours are important to us in terms of goodwill.
hybrid
N. something that is a combination of two different things, so it has qualities relating to both of them:
- a hybrid car/vehicle/engine
- Under the hybrid plan, the employee contributes payments to his retirement fund along with the government.
non-binding
adj. not legally necessary to obey or follow:
- a non-binding resolution/referendum/recommendation
- The committee’s vote is non-binding.
heads of term
letter of intent
is non-binding document outlining the main issues relevant to tentative sale, partnership pr other agreement
merger
2 entities into one
acquisition
entity take ownership of another entity’s stock equity, interests or assets
amalgamation/ consolidation
2 companies combine to form a new enterprise altogether and neither of previous companies remains independency
warranty
N. a written promise from a company to repair or replace a product that develops a fault within a particular period of time, or to do a piece of work again if it is not satisfactory:
The warranty covers the car mechanically for a year, with unlimited mileage.
alternatively
Adv used to suggest another possibility:
We could go to the Indian restaurant, or alternatively, we could try that new Italian place.
adjustment
N. a slight change made to something to make it fit, work better, or be more suitable, or the act of making such a change:
- A small adjustment at the right place can make a significant difference.
- If the colour does not appear quite right, check your monitor settings for adjustment.
valuation
N. the act of deciding how much money something is worth, or the amount decided:
- Insurers usually require a valuation.
- An independent valuation of the estimated purchase price of the house will be carried out.
bidder
N. someone who offers to pay a particular amount of money for something:
In an auction, goods or property are sold to the highest bidder (= the person who offers the most money).
liquidity ratio
the value of a company’s cash and assets that can be easily changed into cash in relation to the amount of debt it has to pay back, usually over the next 12 months:
The company is perilously close to being in breach of its liquidity ratio.
dilution
N the process or action of making something less strong or valuable:
- economic dilution
- The destroyer of brand integrity is “brand dilution”, which is the perverse reward for popularity.
financial slack
extra money has available in case of turndown in sales, revenue or profit. financial slack may help a company make it through a different period. it is equivalent to company’s savings
fixed cost
N. a cost such as wages, rent, and interest that does not change in relation to how much a business produces:
When you take 2,000 people out of your business you will inevitably have fixed cost reductions.
profit margin
N. the difference between the total cost of making and selling something and the price it is sold for, or between the total amount of money a company receives from sales and the total cost of producing all its products and services. The profit margin is often expressed as a percentage:
- The company averages profit margins of 70%.
- high/low profit margins Other mid-size businesses, especially those with low profit margins, have similar objections.
revenue stream
N. the money coming into a company from a particular activity over a period of time, or the activity itself:
- We need to diversify and not rely on a single revenue stream.
- a steady/guaranteed/reliable revenue stream
synergy
N. the combined power, profits, etc. that can be achieved by two organizations or groups of people working together rather than separately:
-create/deliver/generate synergy The merger will help -the manufacturing company achieve synergies that will allow it to remain competitive.
bulk-buying
N. the activity of buying large quantities of a product, especially to get cheaper prices:
Supermarkets do not seem to encourage bulk buying: their prices for multiple products are not much cheaper than buying the products individually.
tax liability
N. an amount of tax that a person or business must pay:
- The company had to raise €5m to meet a tax liability.
- Shareholders may incur a tax liability upon the sale or redemption of shares of a Fund
downturn
N. a reduction in the amount or success of something, such as a country’s economic activity:
- the continuing economic downturn
- There is evidence of a downturn in the housing market.
statutory merger
merger in which the acquiring company survives the target company dissolves. the purpose of this merger is to transfer the assets and capital of the target company into acquiring company without having to maintain the target target company as a subsidiary
consolidated merger
merger is in which an entirely new legal company is formed through combining the acquiring and target company. the purpose of this merger is to create a new legal entity with the capital and assets of the merged acquirer and target company. both acquiring and target company as dissolved in process
dissolve
V. to end an official organization or a legal arrangement:
- A vote to dissolve the power-sharing government is scheduled for next week.
- The committee has announced that it will dissolve or completely reshape the Information Management Group.
disaggregate
V to separate something into separate parts:
-the need to disaggregate social and economic data by age as well as gender
affirmative
adj. relating to a statement that shows agreement or says “yes”:
- an affirmative answer/response
presumptive
adj. believed to be something, or likely to be true, based on the information that you have:
- presumptive signs of pregnancy
plaintiff
N. a person or company that makes a legal complaint about someone else in a court of law:
- The plaintiff claimed damages for the financial losses suffered through breach of copyright.
- Judges in three states have sided with the plaintiffs-.
inference
N. a guess that you make or an opinion that you form based on the information that you have:
- They were warned to expect a heavy air attack and by inference many casualties.
- His change of mind was recent and sudden, the inference being that someone had persuaded him.
complementary
adj. useful or attractive together:
- complementary colours/flavours/skills
- My family and my job both play an important part in my life, fulfilling separate but complementary needs.
inconsequential
adj. not important:
- an inconsequential matter/remark
- Most of what she said was pretty inconsequential.
pros and cons
advantage and disadvantage
demote
V. to move someone to a less senior job than the one they had before:
- demote sb from/to sth Her manager demoted her from her job as a supervisor.
- demote sb for sth Sources said he was demoted for violation of departmental rules.
ego
N. your idea or opinion of yourself, especially your feeling of your own importance and ability:
-That man has such an enormous ego - I’ve never known anyone so full of themselves!
self-esteem
N. belief and confidence in your own ability and value:
- The compliments she received after the presentation boosted her self-esteem.
- She suffers from low self-esteem and it prevents her from pursuing her goals.
capital-intensive
adj. A capital intensive industry, business, or process needs a lot of money to buy buildings and equipment in order to start operating:
- As agriculture became more capital intensive, many farm labourers moved to the towns and cities to look for work.
catalyst
N. someone or something that causes a big change:
the catalyst behind sth
-The catalyst behind this welcome trend has been the mighty Bill Gates.
-catalyst for sth An outside leader is often needed to serve as a catalyst for change.
homogenous
adj. consisting of parts or people that are similar to each other or are of the same type:
- a homogeneous group/society
- The population of the village has remained remarkably homogeneous.
ensue
to happen after something else, especially as a result of it:
-The police officer said that he had placed the man under arrest and that a scuffle had ensued.
turnover
N. the amount of business that a company does in a period of time:
Large supermarkets have high turnovers (= their goods sell very quickly).
The business has an annual turnover of £50,000.
return on investment
N. the profit from an activity for a particular period compared with the amount invested in it:
-Weekly sales are running well ahead of the levels required for a 25% return on investment.
enterprise
an organization, a company, or a business:
- a manufacturing/catering/farming enterprise
- a large/small/medium-sized enterprise
- a state/state-owned/multinational enterprise
- a domestic/local/foreign enterprise
creditor
a person, organization, or government that is owed money:
Filing for bankruptcy protection allows the company to avoid paying creditors while it works out a plan to reorganize.
-a big/large/major creditor
-He has been sued several times by his creditors.
acquire
V to buy or take control of a company or part of a company, often by buying shares in it:
-They acquired a chain of about 20 phone shops.
proprietor
a person who owns a particular type of business, especially a hotel, a shop, or a company that makes newspapers:
-a hotel/newspaper proprietor
operating cost
operational cost
a cost relating to producing a company’s goods or services:
- cut/increase/reduce operating costs
- The company plans to cut operating costs by £1.2bn a year.