Health Insurance Portability And Accountability Act (HIPAA) What is 'Health Insurance Portability And Accountability Act - HIPAA' An act created by the U.S Congress in 1996 that amends bot

DefinitionHealth insurance is insurance that covers the whole or a part of the risk of a person incurring medical expenses, spreading the risk over a large number of persons. By estimating t

DefinitionAn individual retirement account is a form of "individual retirement plan", provided by many financial institutions, that provides tax advantages for retirement savings in the Unit

Office Of Foreign Asset Control (OFAC) What is 'Office Of Foreign Asset Control - OFAC' A department of the U.S. Treasury that enforces economic and trade sanctions against countries and g

DefinitionAn accredited or sophisticated investor is an investor with a special status under financial regulation laws. The definition of an accredited investor, and the consequences of bein

Rational Behavior What is 'Rational Behavior' A rational behavior decision-making process is based on making choices that result in the most optimal level of benefit or utility for the ind

DefinitionIn statistics, sampling bias is a bias in which a sample is collected in such a way that some members of the intended population are less likely to be included than others. It resu

DefinitionSatisficing is a decision-making strategy or cognitive heuristic that entails searching through the available alternatives until an acceptability threshold is met. The term satisfi

DefinitionBack taxes is a term for taxes that were not completely paid when due. Typically, these are taxes that are owed from a prior year. Back Taxes What is 'Back Taxes' Taxes that have

Balance Of Payments (BOP) What is a 'Balance Of Payments (BOP)' A statement that summarizes an economy’s transactions with the rest of the world for a specified time period. The balance