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BUSI121 > Vocab > Flashcards

Vocab Flashcards

1
Q

Absolute frequency

A

Number of times a data value occurs within a distribution

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2
Q

Annual percentage rate (APR)

A

Contracted rate plus any non interest finance charges expressed on an annual basis

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3
Q

Annuity

A

Any investment with a sequence of periodic payments made at equal intervals of time over a specified term

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4
Q

Arithmetic mean

A

Some of numbers divided by number of numbers, (u)

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5
Q

Balloon.
Payment

A

Any payment to principle over and above the regular payment

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6
Q

Best fit regression line

A

The regression lined that minimizes the sum of the squared errors by the least squares method

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7
Q

Bimodal

A

Refers to a distribution with two modes

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8
Q

Bivariate regression analysis

A

The calculation of a straight line that best summarizes an assumed underlying linear relationship between variables

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9
Q

Bonus

A

The portion of the face value of a mortgage loan that exceeds the funds actually received by the borrower and is intended as an additional compensation for the lender

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10
Q

Book value

A

The original face value of the mortgage less the amount of principal repayment or the mortgage amount outstanding at a particular appointment time. At origination, book and face values are the same.

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11
Q

Capitalization

A

Changing a stream of income to a capital market value (current market value) using a required rate of return

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12
Q

Capitalization rate

A

The return and investor requires for investing in a property to receive the annual net operating income flow. It can be estimated from similar properties by dividing their estimated net operating incomes by the prices at which the properties sell.

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13
Q

Cluster sampling

A

A sampling procedure in which population is divided into groups, some of which are randomly selected for anaysyis; same as area sampling

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14
Q

Coefficient of determination

A

Indicates how well a regression model explains the variation in the dependent variable. Equals the linear correlation coefficient squared

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15
Q

Coefficient of dispersion

A

Expresses the average absolute deviation as a percentage of the median; the most commonly used measure of uniformity in mass assessment

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16
Q

Coefficient of variation

A

A measure designed to allow comparisons between the standard deviations of two datasets

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17
Q

Convenience sampling

A

A sampling procedure where the criterion for inclusion is the convenience of the sampler

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18
Q

Cost of funds advanced (COFA)

A

The rate of interest charged on the mortgage loan amount after all fees have been deducted

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19
Q

Cross section data

A

Data on one or more variables taken from the same time period

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20
Q

Cross tabulation analysis

A

Technique of data analysis in which a table is constructed showing the number of observations in the dataset that have given values for each of the two variables

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21
Q

Debt financing

A

Incurring an obligation to repay a debt in order to invest or consume more than one currently owns

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22
Q

Debt servicing

A

The making of mortgage payments by the borrower as arranged with the lender

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23
Q

Differed annuity

A

Where the cash flow has all the characteristics of an annuity , but where the present value is calculated for some point in advance of the beginning of the first payment period

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24
Q

Discreet variable

A

A variable that can assume only a limited number of values such as whole number

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25
Q

Discount loan

A

Alone on which payments are determined by the face value but where the borrower receives a lesser amount

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26
Q

Discount rate

A

The interest rate used to determine the present value of future cash flows

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27
Q

Discounted cash flows

A

A method of valuing an asset using the concepts of time value of money where future cash flows are discounted to give a present value

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28
Q

Effective annual interest rate

A

Annual interest rate compounded once a year denoted as j

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29
Q

Error

A

The actual value of the dependent variable.Minus the predicted value of the dependent variable for any given observation

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30
Q

Equivalent rate

A

Two interest rates are equivalent if for the same amount of borrowed over the same period of time the same amount is owed at the end of that period of time

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31
Q

F value

A

Measures whether the overall regression relationship is significant, also known as f statistic

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32
Q

Fee simple

A

The legal term for the maximum interest in land available to a person, or the maximum of legal ownership. Equivalent in many ways for practical purposes to absolute ownership

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33
Q

Final payment

A

The last installment made on a fully emerged loan usually smaller than the preceding periodic payments

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34
Q

Frequency distribution

A

A listing of data values accompanied by the number of times each value occurs

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35
Q

General anuity due

A

And annuity with payments due at the beginning of the payment period and a payment period not identical to the interest compounding period
Eg: car lease

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36
Q

Graphic method

A

A method in which the best fit regression line is determined by plotting the data And then subjectively choosing a line that appears to fit the data best

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37
Q

Histogram

A

A graph of the relationship between data values for group data and their frequencies for the group data

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38
Q

Holding period

A

Length of time of an investment and or loan

39
Q

Index number

A

A measure of how variable or variables change over time

40
Q

Interest adjustment

A

The process of calculating compound interest payable on the amount borrowed between the day the moneys are advanced and the day the amortization period starts

41
Q

Internal rate of return

A

The discount rate.At which the present value of all future cash flows equals the initial investment

42
Q

Irregular variation

A

Fluctuations occurring through time that are completely unpredictable and sporadic

43
Q

Lending value

A

The estimated value of a property for lending purposes.It is a long term conservative estimate of the value of the security as determined by the lender and therefore does not necessarily equal market value or sale price

44
Q

Linear correlation coefficient

A

A measure of the strength of the relationship between 2 variables.The coefficient denoted as r varies between -1 (negative correlation) and +1 (positive correlation). A coefficient of zero indicates the variables are uncorrelated

45
Q

Market value of a property

A

Expected or forecasted sale price

46
Q

Market value of an offer

A

Today’s cash equivalent price

47
Q

Mean absolute deviation

A

Measures the average spread or difference between a ratio and the median ratio (used in assessment)

48
Q

Measure of central tendency

A

A measure that can be used as a typical value

49
Q

Measure of dispersion

A

A measure that indicates how spread out of distribution is

50
Q

Median

A

A measure of central tendency given by the middle value or the mean of the two middle values when the data are arranged in ascending or descending order

51
Q

Mode

A

A measure of Central tendency given by the most frequent value.If all values occur with equal frequency , there is no mode

52
Q

Moving average

A

A series of arithmetic means used to smooth time series data.

53
Q

Moving total

A

A series of totals or sums of data from consecutive time periods used to compute a moving average

54
Q

Multicollinearity

A

When two or more of the elements in a regression model are moderately or highly correlated

55
Q

Net present value

A

The difference between the present value of all future cash flows and the cost of the investment

56
Q

Multivariate regression analysis

A

Regression analysis in which there is one dependent variable and more than one independent variable

57
Q

Nominal interest rate

A

An interest rate quoted as per annum with a stated compounding frequency , it is equal to the interest Rate per compounding period multiplied by the number of compounding periods

58
Q

Non response error

A

Errors due to the different characteristics of respondents and non respondents

59
Q

Normal distribution

A

Distribution of data that a symmetric around the mean it is bell shaped and has a single peak

60
Q

Ordinary general annuity

A

An annuity with payments due at the end of the payment period and a payment period not identical to the interest compounding period
Eg: mortgage

61
Q

Ordinary simple annuity

A

An annuity in which payments are due at the end of the payment period and the payment interval is identical to the
Interest compounding period
Eg: car loan

62
Q

periodic rate

A

The interest rate that is charged per compounding period EG per month denoted as i

63
Q

Present value ratio

A

Present value of net cash flows divided by the cost of the investment

64
Q

Price related differential

A

Measures appraisal regressivity or progressivity calculated by dividing the mean of the ASRs by the aggregate ratio

65
Q

Profitability index

A

Present value of positive cash flows divided by present value of negative cash flows

66
Q

Quantity Index

A

An index to compare the quantities of one or more products over two time periods

67
Q

Quota sampling

A

A sample in procedure were a specified number of elements in each strata or group is selected

68
Q

Range

A

A measure of dispersion given by the maximum minus the minimum

69
Q

Relative frequency

A

The number of times each data value occurs within a distribution divided by the total number of data values

70
Q

Residual method

A

A technique for determining the typical variation based on comparison of actual and predicted trend values

71
Q

Sale/leaseback

A

Situation in which the vendor will lease the subject property back from the purchaser

72
Q

Sample bias

A

Errors arising in a sampling process

73
Q

Seasonal index

A

Actual value divided by mean value expressed as a percentage

74
Q

Secular trend

A

A long running pattern in time series data

75
Q

Simple anuity due

A

An annuity with payments due at the beginning of the payment period and a payment interval identical to the interest compounding period
Eg: car lease (when stated annually)

76
Q

Sinking fund

A

A reserve established by setting aside revenue to fund a future capital expense or repay long term debt obligations eg. Principle on interest only loan.

77
Q

Standard deviation

A

A measure of dispersion of a distribution around its mean

78
Q

Standard error of the estimate

A

A measure of the average disparity between the actual and predicted values of the independable variables.It is a measure of how good the best fit regression line is

79
Q

Standard error of the mean

A

A measure of dispersion in the distribution of means of random samples that are the same size and are drawn from the same population

80
Q

Stratified random sampling

A

A sampling method where the elements of the population are first stratified , then a sample is selected from each of the strata using a random sampling technique

81
Q

Summary measure

A

A single number or measure that summarizes the distribution without listing every value

82
Q

Systematic sampling

A

Assampling procedure where every nth item in the population is chosen

83
Q

T-statistic

A

Indicates the degree of confidence that can be placed on the regression coefficients

84
Q

Time series data

A

Data on one or more variables taken from one or more time periods

85
Q

Treasury bill

A

A short term promissory note issued by the Government of Canada to finance ongoing expenditures in excess of current tax revenues

86
Q

Trend

A

A regular pattern and time series data

87
Q

Value index

A

An index to compare the value of several products over two time periods

88
Q

Variance

A

A measure of dispersion of a distribution around it’s mean; the square of the standard deviation

89
Q

Vendor supplied mortgage or take back mortgage

A

Where a vendor sells their home with a portion of the purchase price paid with the mortgage

90
Q

Reversionary value

A

Value when property reverts to owner after lease

91
Q

Coupon bonds

A

Bonds that pay interest only at coupon rate and principal at maturity.

92
Q

Agreement for sale

A

Rent to own. Buyer holds title charge. Seller holds title

93
Q

Interest rate buy down

A

$500,000 at 5% becomes $550,000 at 2.6% but the buyer only receives 500,000

94
Q

Lender bonus

A

Fee charged to increase value of loan. Usually realized as having a higher face value than what the borrower receives.

BUSI121 (3 decks)

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