Insurance Exam Vocabulary Terms
Option
An agreement giving the buyer the right to buy or receive, sell or deliver, enter into, extend or terminate, or effect a cash settlement based on the actual or expected price, level, performance or value of one or more Underlying Interests.
Other terms you may be interested in:
- Losses Incurred But Not Reported (IBNR)
- Underlying Interest
- Gramm-Leach Bliley Act (GLBA)
- Ambulatory Services
- Foreign Investment
- Collateralized Bond Obligations (CBOs)
- Specified Disease Coverage
- Fire Legal Liability
- BCEGSBuilding Code Effectiveness Grading Schedule
- Comprehensive General Liability (CGL)
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