Payments
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Payment methods allow to use the money holded in deposit account or in cash to pay the expenses and debts. Interbank systems allow the exchange and possibly compensation payments means between credit institutions and payment institutions. Means of payment are … Read More

Euro
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ISO 4217 code: EUR (num. 978) Central bank: European Central Bank Official users: Eurozone (18), Outside the EU (9) Unofficial users: 3 other users Inflation: 0.8%, January 2014, Method HICP Pegged by 9 currencies Subunit: 1/100, cent Actual usage varies … Read More

Principles of insurance
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Losses must be uncertain. The rate of losses must be relatively predictable: In order to set premiums (prices) insurers must be able to estimate them accurately. This is done using the Law of Large Numbers which states that: The larger … Read More

London Stock Exchange
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Type: Stock Exchange Location: London, United Kingdom Founded: 1801; 213 years ago Key people: Christopher S. Gibson-Smith (Chairman), Xavier Rolet (CEO) Currency: GBP No. of listings: 2,864 (as of December 2011) Market cap: US$3.2 trillion (Dec 2011) Volume: US$1.7 trillion (Dec 2009) Indexes: FTSE 100 Index, … Read More

Mortgage
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Customers queuing outside the offices of Northern Rock to withdraw their savings The mortgage is a requirement considered effective by credit financial institutions, banks and savings banks, and it is mainly used by institutions for loans and credits, called mortgage … Read More

Insurance fraud (False insurance claims)
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Insurance fraud or false insurance claims are insurance claims filed with the intent to defraud an insurance provider. In the United States insurance fraud is estimated to cost US$875 per person per year with The Coalition Against Insurance Fraud estimating … Read More

Essential principles for the implementation with the Single Supervisory Mechanism in EU
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One of several situations for the success on the Single Supervisory Mechanism is that it guarantees a genuinely European point of view. It is a myth that politically protected banks or banking structures or “national champions” have been within the … Read More

Loans
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A loan is a long-term financial debt, while debt in the medium and short term are usually called “credits”. A loan is a debt that has to be returned respecting specified stages (funds provided under contractual arrangements with the exception … Read More

Auction catalog
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An auction catalog is a catalog that lists items to be sold at an auction. Auction catalogs for rare and expensive items, such as art, jewelry, postage stamps, and antique furniture, are of interest in and of themselves, for they … Read More

Types of auctions
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English auction: This is what most people think of as an auction. Participants bid openly against one another, with each bid being higher than the previous bid. The auction ends when no participant is willing to bid further, or when … Read More

Insurance Contract Principles
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A property or liability insurance policy is a “personal contract,” a “conditional contract,” a “unilateral contract,” a “contract of adhesion,” a “contract of indemnity,” and a contract which requires that the person insured have an insurable interest at the time … Read More

Accidental death and dismemberment insurance
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Accidental death and dismemberment insurance coverage (also called AD&D) covers death or dismemberment as a result of an accident. In constrast to life insurance coverage, AD&D generally would not pay survivor benefits in the case of death by illness. AD&D … Read More

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