Bankers Draft Financial Glossary

What is it? A form of guaranteed payment

Finance Term Definition Added By: Nevaeh

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Other Similar Finance Terms:

Financial Term Eurobonds is Bonds that are marketed internationally.

Financial Term Uniform Transfers to Minors Act (UTMA) is [formerly Uniform Gifts to Minors Act (UGMA)] - A law in effect in most states that governs the transfer of money or property to minors. Such transfers are irrevocable. Under UTMA, a custodian, who may also be the donor, manages the property while the minor retains full rights to the principal and income.

Financial Term Net Asset Value (NAV) is The market value of a fund share, synonymous with a bid price. In the case of no-load funds, the NAV, market price, and offering price are all the same figure, which the public pays to buy shares; load fund market or offer prices are quoted after adding the sales charge to the net asset value. NAV is calculated by most funds after the close of the exchanges each day by taking the closing market value of all securities owned plus all other assets such as cash, subtracting all liabilities, then dividing the result (total net assets) by the total number of shares outstanding. The number of shares outstanding can vary each day depending on the number of purchases and redemptions.

Financial Term OverRewarded is A security whose expected (average) return is above its required return. Also called under-priced.

Financial Term Temporary Budget is Adjustments done in the current year that are temporary in nature. (budget adjustments that will not roll over to the next fiscal year).