Across
- 8. A signed order by one party (the drawer) addressed to another (the drawee) directing the drawee to pay a specified sum of money to the order of a third person, the payee
- 11. The contractual postponement of payment for services rendered until a future date
- 15. The pooling of debt, such as mortgage loans, and selling the consolidated debt as securities to investors
- 16. To assume as risk for a fee, such as for insurance or investments
- 17. A _____________ agreement is the sale of securities with a simultaneous agreement to buy back the same securities at a stated price on a stated date
- 20. An ____________ calculation is the mathematical determination of rates and premiums for life insurance, disability insurance, and pension benefits based on tables detailing the frequencies of mortality (death) and morbidity (disability)
- 22. An action taken to compensate or reimburse someone for losses or damages incurred
- 23. Deposits denominated in U.S. dollars at banks and other financial institutions outside the United States
Down
- 1. An amount owed to and not yet delivered or accepted by a company is the accounts __________.
- 2. Document intended to give shareholders the information they need to vote knowledgeably on matters brought up at shareholder meetings
- 3. The trading in or exchange of foreign currencies for other foreign currencies
- 4. A document given by the shipper of goods to the recipient acknowledging receipt of shipment and the terms of delivery
- 5. The market for the resale of securities where ownership is transferred from one owner to another
- 6. the marketing of new security issues, usually through an investment banker or underwriter
- 7. A draft payable at a fixed or determinable future time
- 9. A person or company that acts for another person or company (the principal) by the latter’s authority
- 10. Method for electronically registering and keeping a record of securities ownership without issuing physical certificates to owners
- 12. A contract underlying a bond issue, signed by the issuing corporation and the trustee, who acts for the bondholders
- 13. An __________ letter of credit, once issued, cannot be cancelled and can be modified only with the consent of all parties to the credit, including the beneficiary
- 14. A ________ letter of credit may be withdrawn by the issuer at any time without prior notice to the beneficiary
- 18. The right of a corporation to repurchase a bond obligation or stock
- 19. The market in which an issuer sells new securities to investors
- 21. A draft payable on demand when presented to the drawee