CPCU 530 Ch. 10 Flashcards
Risk that is inherent in the operation of a particular organization including the possibility of loss, no loss, or gain
Business risk
A law that concerns the interrelation of nation states and that is governed by treaties and other international agreements
Public international law
A law that involves disputes between individuals or corporations in different countries
Private international law
The act of selling large quantity of goods at less than fair value, including selling good abroad at less than the market price at home
Dumping
The European Union’s member countries’ single, unified market in which goods, services, people, and capital can move freely across boarders
Common Market
A currency based on the fixed exchange rate of another country’s currency
Pegged currency
The price one part of a company charges for products and services it provides to another part of the same company
Transfer price
A country whose regulations offer financial and business incentives encouraging organizations from other countries to do business there
Tax haven
A corporate share that is owned by the holder of the share certificate and is not registered; therefore, ownership remains private
Registered share
A form of government by the people through elected representatives
Democratic rule
A form of government in which elected reps have no political party affiliation
Nonparty democracy
A form of government involving rule by a prime minister and an elected parliament
Parliamentary democracy
A form of government in which the citizens directly elect a president
Presidential democracy
A form of government in which reps may be elected from several or many political parties
Multiparty democracy
A form of government by a group of military officers governing a country after seizing power
Junta
The assumption of control of a country by a military
Martial law
A form of government led by a hereditary chief of state with powers varying from absolute to ceremonial
Monarchy
A form of government led by a single ruler who selects advisers for assistance
Absolute monarchy
A form of government with a parliament, or a democratic legislative body, but with a monarch as a formal or ceremonial head of state
Constitutional monarchy
A form of government that constitutionally permits only one specific political party
Single-party government
A form of government based on religious doctrine and often led by religious leaders
Theocratic government
A temporary form of government used when a country is rebuilding its government, usually as a result of war
Transitional government
