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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Accredited Mortgage Broker (AMB) — Canada
Accredited Mortgage Professional (AMP)Canada, Very Important
The Accredited Mortgage Professional (AMP) is the only national proficiency standard created by CAAMP for Canada's mortgage industry.
  ➥  Accreditation offered by Canadian Association of Accredited Mortgage Professionals (CAAMP).
Accredited Senior Agent (ASA) — Acronym
accrual methodDefinition
Business accounting in which you report income in the year you earned it and expenses in the year you incur them, rather than reporting income and expenses when you receive payment or when you pay the expenses. Under this method, if you built a deck and billed the client in December 1999, the amount you charged would be reported in 1999 as income even if you didn't get the payment until January 2000. If you own a business that maintains an inventory, you are required to use the accrual method.
accrueDefinition
To gather together an amount often over a period of time.
accrued interestDefinition
Interest which has already been earned but has not yet been paid.
accrued interest receivable (AIR) — Acronym
When interest on an outstanding receivable has been added to the account, but has not yet been collected.
accumulated amortization (AA) — Acronym
The offset of accumulated depreciation, accumulated amortization records the total to date of the periodic amortized charges relating to an intangible asset (e.g. Leasehold, patent, covenant, software license) since placed in service.
accumulated income payment (AIP) — Canada
A payment of the income earned from an RESP, usually paid to the subscriber.
accumulation period (AP)Definition, Important
The period where an investor continues to put money into his or her investment(s).
acid-test ratioDefinition
A ratio that determines the liquidity of a company without requiring the company to sell assets or inventory.
acquiring financial institutionDefinition
Merchants must maintain an account with an acquiring financial institution to receive credit for credit card transactions. Daily credit card totals are deposited into the merchant's account minus any fees.
acquisition feeDefinition
A fee charged by some leasing companies for originating the loan, just as mortgage lenders charge points as an origination fee. This fee is often not specified in a contract, but rolled into the capitalized cost when calculating monthly payments.
acreDefinition
43,560 square feet. A plot of land 180 by 242 feet is one acre.
acre foot (AF)Definition
The water or other material needed to cover an acre of land one foot deep. Equivalent to exactly 43,560 cubic feet.
act of god (AOG)Definition
When used in insurance policies, an event caused by natural forces such as hail, rain, tornado, lightning, floods or earthquakes, which results in damage to property.
active incomeDefinition
Active income refers to wages, tips, and profits from your business or employment that you partake in. It also includes portfolio income such as interest and dividends, but you cannot usually offset active income with passive losses.
active participantDefinition
Actively enrolled in an employer's retirement plan.
activities of daily living (ADL)Definition, Important
Physical activities an average individual is capable of doing on a normal day.
activity based pricing (ABP) — Acronym
actual ageDefinition
The years since a structure was built. Differs from effective age.
actual cash value (ACV)Definition
The replacement cost of an insured asset with depreciation accounted for.
actual total loss (ATL) — Acronym
actuarial tableDefinition
A table used in actuarial science that outlines the statistical probability that an individual of a specific age and sex will die within a year.
actuaryDefinition
An individual who assesses the mechanisms, mathematics and complexities of risk and uncertainty.
add-on interestDefinition
Interest that is computed at the beginning of the loan, then added to the principal, so that all must be repaid, even if the loan is paid off early.
addendumDefinition
A change made to a contract.
additional liability insurance (ALI) — Acronym, Important
additional premium (A.P., AP) — Acronym, Important
  ➥  Surcharge or complement to an insurance premium.
additional principal paymentDefinition
Extra money included with a loan payment to pay off the amount owed faster. Over time, this practice reduces the amount of interest paid.
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AbandonmentAccounts Receivable...
 
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Accredited Mortgage Broker — Additional Principal Payment
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Additional PropertyAggregate Stop Loss

Search the Glossary

Index for The Letter 'a'

Page 1: Abandonment
Accounts Receivable/Accounts...
Page 2: Accredited Mortgage Broker
Additional Principal Payment
Page 3: Additional Property
Aggregate Stop Loss
Page 4: Agreed Boundary
American Growth Fund
Page 5: American National Standards...
Annuity Certain
Page 6: Annuity Consideration
Assessment Rolls
Page 7: Assessments
Audit
Page 8: Auditing and Assurance...
Aviation Easement

Notable Terms

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