Definition of "Sample"
Item given or sold to a buyer that establishes a standard of quality by which later products will be judged. Since the uniform commercial code does not distinguish between a sample and a model, a sample may create an implied warranty that all goods will conform to this standard. If other goods shipped later do not meet this standard, the manufacturer may be held liable.
Popular Insurance Terms
In which at least two insurance policies provide identical coverage for the same risk. ...
Arrangement of discretionary income, expenses, and investments in a way that enhances after-tax wealth. Insurance policies can be used to increase after-tax income through the tax-deferral ...
Present value computation of the accrued or projected benefits of a retirement plan. This computation is known as the actuarial valuation because it is based on probability (retirement ...
Record of losses, whether or not insured. This record is used in predicting future losses and in developing premium rates based on expectation of insured losses. ...
Life is unpredictable so to compensate this, people have invented insurance. Insurance deals with unforeseen events. Sometimes insurance companies cover only a part of your losses and a few ...
Amendment that modifies the federal flood insurance program by providing relocation and acquisition coverage for structures in imminent danger from an encroaching shoreline. This amendment ...
Actuarial equivalent method of calculating the premium rate through the development of the following equation: probability that the event insured against occurs x face amount of policy x ...
Aggregate amount of insurance policies that are paid-up (or are being paid) that a life or health insurance company has on its books. The size of a life or health insurance company is often ...
Act that provides new funding for the Bank Insurance Fund and enhances the safety and soundness of the financial system. The FDICIA includes the Foreign Bank Supervision Enhancement Act ...
Have a question or comment?
We're here to help.