What is 'National Association of Mortgage Brokers - NAMB'
An organization that protects the interests of mortgage brokers in the United States and encourages its members to maintain high levels of professionalism and ethical standards. As part of its commitment...
What is a tax deduction and how does it work
A tax deduction is an expense that can be subtracted from your taxable income. This reduces the amount of taxes you owe. For example, let's say you earn $50,000 per...
What is 'Magna Cum Laude' Magna cum laude is an academic level of distinction used by educational institutions to signify an academic degree that was received "with great honor." Explaining 'Magna Cum Laude' The guidelines...
What is the 'Back-End Ratio'
An indicator of how much of a person's monthly income is dedicated to debt repayment is the back-end ratio, also known as the debt-to-income ratio. A person's total monthly debt comprises expenditures such as mortgage...
Diversification is a technique that deals with risk management by mixing a wide range of investments in a single portfolio in hope that the sheer number of investments can result in higher returns with low risks. In other words,...
What is 'National Association Of State Boards Of Accountancy - NASBA' A U.S. nonprofit group founded in 1908 that seeks to enhance the effectiveness of the state boards of accountancy. Public accountancy is regulated at the state...
What is 'Large Value Transfer System - LVTS' An electronic wire payment system in Canada, facilitating the transfer of funds between large financial institutions, including the central Bank of Canada. Explaining 'Large Value Transfer System...
Definition
Reaganomics is the term used to describe the economic policies advocated by former United States President Ronald Reagan throughout the 1980s. These policies are frequently connected with supply-side economics, which political opponents refer to as trickle-down economics or voodoo...
What is a 'Passive Foreign Investment Company - PFIC' A passive foreign investment company (PFIC) is a foreign-based corporation that exhibits either one of two conditions. The first condition, based on income, is that at least 75%...
What is 'Wealth' Wealth measures the value of all the assets of worth owned by a person, community, company or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then...