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Wiki Wiki Summary
Bit numbering In computing, bit numbering is the convention used to identify the bit positions in a binary number.\n\n\n== Bit significance and indexing ==\n\nIn computing, the least significant bit (LSB) is the bit position in a binary integer representing the binary 1s place of the integer.
Significant Mother Significant Mother is an American television sitcom created by Erin Cardillo and Richard Keith. Starring Josh Zuckerman, Nathaniel Buzolic and Krista Allen, it premiered on The CW network on August 3 and ended its run on October 5, 2015.
List of aircraft by tail number This list is only of aircraft that have an article, indexed by aircraft registration "tail number" (civil registration or military serial number). The list includes aircraft that are notable either as an individual aircraft or have been involved in a notable accident or incident or are linked to a person notable enough to have a stand-alone Wikipedia article.
Debits and credits Debits and credits in double-entry bookkeeping are entries made in account ledgers to record changes in value resulting from business transactions. A debit entry in an account represents a transfer of value to that account, and a credit entry represents a transfer from the account.
Investment fund An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to:\n\nhire professional investment managers, who may offer better returns and more adequate risk management;\nbenefit from economies of scale, i.e., lower transaction costs;\nincrease the asset diversification to reduce some unsystematic risk.It remains unclear whether professional active investment managers can reliably enhance risk adjusted returns by an amount that exceeds fees and expenses of investment management.
Derivative (finance) In finance, a derivative is a contract that derives its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying".
Short-rate model A short-rate model, in the context of interest rate derivatives, is a mathematical model that describes the future evolution of interest rates by describing the future evolution of the short rate, usually written \n \n \n \n \n r\n \n t\n \n \n \n \n \n {\displaystyle r_{t}\,}\n .\n\n\n== The short rate ==\nUnder a short rate model, the stochastic state variable is taken to be the instantaneous spot rate.
Inflation An infection is the invasion of an organism's body tissues by pathogens, their multiplication, and the reaction of host tissues to the infectious agents and the toxins they produce. An infectious disease, also known as a transmissible disease or communicable disease, is an illness resulting from an infection.
Amortization (business) In business, amortization refers to spreading payments over multiple periods. The term is used for two separate processes: amortization of loans and amortization of assets.
The Walt Disney Company The Walt Disney Company, commonly known as Disney (), is an American multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios complex in Burbank, California.\nDisney was originally founded on October 16, 1923, by brothers Walt and Roy O. Disney as the Disney Brothers Cartoon Studio; it also operated under the names the Walt Disney Studio and Walt Disney Productions before changing its name to the Walt Disney Company in 1986.
Environmental impact of agriculture The environmental impact of agriculture is the effect that different farming practices have on the ecosystems around them, and how those effects can be traced back to those practices. The environmental impact of agriculture varies widely based on practices employed by farmers and by the scale of practice.
Security (finance) A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction.
International Financial Reporting Standards International Financial Reporting Standards, commonly called IFRS, are accounting standards issued by the IFRS Foundation and the International Accounting Standards Board (IASB). They constitute a standardised way of describing the company's financial performance and position so that company financial statements are understandable and comparable across international boundaries.
Universal life insurance Universal life insurance (often shortened to UL) is a type of cash value life insurance, sold primarily in the United States. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest.
Decrease (knitting) A decrease in knitting is a reduction in the number of stitches, usually accomplished by suspending the stitch to be decreased from another existing stitch or by knitting it together with another stitch.\n\n\n== Methods of single decreasing (knitting) ==\nWhen more than one stitch is suspended from a stitch, they can hang in different orders.
Equity (finance) In finance, equity is ownership of assets that may have debts or other liabilities attached to them. Equity is measured for accounting purposes by subtracting liabilities from the value of the assets.
Whole life insurance Whole life insurance, or whole of life assurance (in the Commonwealth of Nations), sometimes called "straight life" or "ordinary life," is a life insurance policy which is guaranteed to remain in force for the insured's entire lifetime, provided required premiums are paid, or to the maturity date. As a life insurance policy it represents a contract between the insured and insurer that as long as the contract terms are met, the insurer will pay the death benefit of the policy to the policy's beneficiaries when the insured dies.
Cash and cash equivalents Cash and cash equivalents (CCE) are the most liquid current assets found on a business's balance sheet. Cash equivalents are short-term commitments "with temporarily idle cash and easily convertible into a known cash amount".
Víctor Gay Zaragoza Víctor Gay Zaragoza (born 19 June 1982 in Barcelona, Spain) is a writer, storyteller, trainer and consultant on storytelling. He is author of the essays "Filosofía Rebelde" (Rebel Philosophy), "50 libros que cambiarán tu vida" (50 books that will change your life) and the historical novel "El defensor" (The defender).
Balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Current Contents Current Contents is a rapid alerting service database from Clarivate Analytics, formerly the Institute for Scientific Information and Thomson Reuters. It is published online and in several different printed subject sections.
Victory Contents Victory Contents (Korean: 빅토리콘텐츠; RR: bigtoli kontencheu) is a Korean drama production company based in Seoul.\n\n\n== History ==\nsource: \n\nApril 4, 2003 - Music Encyclopedia was established.
Cash register A cash register, sometimes called a till or automated money handling system, is a mechanical or electronic device for registering and calculating transactions at a point of sale. It is usually attached to a drawer for storing cash and other valuables.
Asset In financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value.
Brexit The breast is one of two prominences located on the upper ventral region of a primate's torso. Both females and males develop breasts from the same embryological tissues.
Separately managed account In the investment management industry, a separately managed account (SMA) is any of several different types of investment accounts. For example, an SMA may be an individual managed investment account; these are often offered by a brokerage firm through one of their brokers or financial consultants and managed by independent investment management firms (often called money managers for short); they have varying fee structures.
Risk factors of schizophrenia Risk factors of schizophrenia include many genetic and environmental phenomena. The prevailing model of schizophrenia is that of a special neurodevelopmental disorder with no precise boundary or single cause (i.e.
Suicide Suicide is the act of intentionally causing one's own death. Mental disorders (including depression, bipolar disorder, autism spectrum disorders, schizophrenia, personality disorders, anxiety disorders), physical disorders (such as chronic fatigue syndrome), and substance use disorders (including alcohol use disorder and the use of and withdrawal from benzodiazepines) are risk factors.
Loan A man is an adult male human. Prior to adulthood, a male human is referred to as a boy (a male child or adolescent).
Rostec Rostec (Russian: Ростех, tr. Rostekh), officially the State Corporation for Assistance to Development, Production and Export of Advanced Technology Industrial Product Rostec (Russian: Государственная корпорация по содействию разработке, производству и экспорту высокотехнологичной промышленной продукции «Ростех») and formerly Rostekhnologii (Russian: Ростехнологии, literally "Russian Technologies"), is a Russian state-owned defense conglomerate headquartered in Moscow.Established in 2007, the organization comprises about 700 enterprises, which together form 14 holding companies: eleven in the defense-industry complex and three in civil sectors.
Kotak Life Insurance Kotak Mahindra Life Insurance Company Limited is a private life insurance company in India. The company was founded in 2001.
Cigna Signa (Italian pronunciation: [ˈsiɲɲa]) is a comune (municipality) in the Metropolitan City of Florence in the Italian region Tuscany, located about 12 kilometres (7 mi) west of Florence.\nSigna borders the following municipalities: Campi Bisenzio, Carmignano, Lastra a Signa, Poggio a Caiano, Scandicci.
Emergency operations center An emergency operations center (EOC) is a central command and control facility responsible for carrying out the principles of emergency preparedness and emergency management, or disaster management functions at a strategic level during an emergency, and ensuring the continuity of operation of a company, political subdivision or other organization.\nAn EOC is responsible for strategic direction and operational decisions and does not normally directly control field assets, instead leaving tactical decisions to lower commands.
Berkshire Hathaway Berkshire Hathaway Inc. () is an American multinational conglomerate holding company headquartered in Omaha, Nebraska, United States.
Magnitsky legislation Magnitsky legislation refers to laws providing for governmental sanctions against foreign individuals who have committed human rights abuses or been involved in significant corruption. They originated with the United States which passed the first Magnitsky legislation in 2012, following the execution of Sergei Magnitsky in Russia in 2009.
Federal government of the United States The federal government of the United States (U.S. federal government or U.S. government) is the national government of the United States, a federal republic in North America, composed of 50 states, a city within a federal district (the city of Washington in the District of Columbia, where the entire federal government is based), five major self-governing territories and several island possessions. The federal government is composed of three distinct branches: legislative, executive, and judicial, whose powers are vested by the U.S. Constitution in the Congress, the president and the federal courts, respectively.
Tax haven A tax haven is a jurisdiction with very low "effective" rates of taxation for foreign investors ("headline" rates may be higher). In some traditional definitions, a tax haven also offers financial secrecy.
Risk Factors
NATIONWIDE FINANCIAL SERVICES INC/ ITEM 1A Risk Factors Changes in general economic and market conditions and interest rates may significantly affect the value of the Company’s investment portfolio
The Company’s investment portfolio primarily consists of fixed-income securities and mortgage loans on real estate
The market values of these invested assets fluctuate depending on general economic and market conditions and the interest rate environment
For example, if interest rates rise, the investments generally will decrease in value
If interest rates decline, the investments generally will increase in value with the possible exception of mortgage-backed securities (MBSs), which may decline due to higher prepayments on the mortgages underlying the securities
MBSs, including collateralized mortgage obligations (CMOs), are subject to prepayment risks that vary with interest rates, among other things
During periods of declining interest rates, MBSs generally prepay faster as the underlying mortgages are prepaid and/or refinanced by borrowers in order to take advantage of lower rates
MBSs that have an amortized cost greater than par (ie, purchased at a premium) may incur a reduction in yield or a loss as a result of such prepayments
In addition, during such periods, the Company generally will be unable to reinvest the proceeds of any such prepayment at comparable yields
Conversely, during periods of rising interest rates, the frequency of prepayments generally decreases
MBSs that have an amortized value less than par (ie, purchased at a discount) may incur a decrease in yield or a loss as a result of slower prepayments
The Company attempts to mitigate the negative impact of interest rate changes through asset/liability management, including investing in non-callable bonds where practical and purchasing private placement bonds and entering into mortgage loan contracts that provide prepayment protection
There can be no assurance, however, that management will be able to successfully manage the negative impact of interest rate changes
Additionally, for business, regulatory or other reasons, the Company periodically may elect or be required to sell certain of its invested assets when their fair values are less than their original cost, resulting in realized capital losses, which would reduce net income
Changes in interest rates and in the financial markets may reduce the Company’s interest spread income, earnings and sales
The Company is exposed to various interest rate risks
Many of the products contain guarantees that require the Company to credit at least a minimum rate of interest to policyholders
In addition, for competitive reasons, the Company may at times continue to credit above-minimum interest rates to policyholders despite reductions in prevailing market interest rates
Current crediting rates for many of the Company’s individual annuity products are at or near the contractual minimum rates
Decreases in market interest rates would result in declines in the portfolio yield on investments backing the Company’s individual annuity products
A reduction in interest spread income, the difference between the interest rates that the Company credits policyholders and the yield the Company is able to earn on investments, may reduce earnings
If policyholders cancel their policies or withdraw the cash values of their policies to seek better investment yields in response to changing interest rates, the Company’s revenues are likely to decrease
If market interest rates decline, net investment income will decrease if higher-yielding fixed-income securities mature or are redeemed and the proceeds must be reinvested in lower-yielding securities
Volatility in interest rates and equity markets could reduce consumer demand for the Company’s products and result in lower sales
Changes in interest rates may negatively impact the Company’s liquidity
Significant increases in prevailing interest rates may cause the Company’s policyholders to withdraw the cash value of their policies as they seek more attractive returns
If large numbers of policyholders or policyholders with large balances withdraw their policy values, the Company may be required to borrow funds or 17 ______________________________________________________________________ [52]Table of Contents liquidate investments to raise the cash necessary to fund their withdrawals
Particularly in periods of volatile interest rates, liquidations can result in capital losses to the Company
Because volatile interest rates often make fixed-income investments like mortgages and privately placed bonds more difficult to sell, there is also a risk that the Company will find it difficult to raise the cash necessary to fund a very large amount of withdrawal activity
A decline in the equity markets can cause the values of the Company’s separate account assets to decline and reduce revenues, increase claims, increase payment obligations under guaranteed contracts and result in the accelerated amortization of deferred policy acquisition costs (DAC)
A significant source of revenues for the Company is derived from asset management fees, which are calculated as a percentage of separate account assets
Gains and losses in the equity markets will result in corresponding increases or decreases in separate account assets and asset management fee revenue
In addition, a decrease in separate account assets may decrease the Company’s expectations of future profit margins due to a decrease in asset fee revenue and/or an increase in guaranteed contract claims, which also may require the Company to accelerate the amortization of DAC See Part II, Item 7A—Quantitative and Qualitative Disclosures About Market Risk—Equity Market Risk for a complete discussion of risk factors related to equity market risk, including guaranteed contracts
Deviations from assumptions regarding future persistency, mortality, morbidity and interest rates used in calculating reserve amounts could have a material adverse impact on the Company’s consolidated net income
The process of calculating reserve amounts for a life insurance organization involves the use of a number of assumptions, including those related to persistency (how long a contract stays with a company), mortality, morbidity and interest rates (the rates expected to be paid or received on financial instruments, including insurance or investment contracts)
Actual results could differ significantly from those assumed
As such, deviations from one or more of these assumptions could result in material adverse impacts on the Company’s consolidated net income
A decline in the Company’s financial strength ratings could adversely affect the Company’s operations
See Part I, Item 1—Business—Ratings for a description of risk factors related to ratings
The Company’s insurance subsidiaries are subject to extensive regulations designed to benefit or protect policyholders rather than the Company
See Part I, Item 1—Business—Regulation—Regulation at State Level for a general description of the regulations designed to benefit or protect policyholders
Changes in regulations or in the interpretation of existing laws or regulations may adversely impact pricing, reserve adequacy or exposure to litigation and could increase the costs of regulatory compliance by the Company’s insurance subsidiaries
Any proposed or future state legislation or regulations may negatively impact the Company’s financial position or results of operations
Certain changes in federal laws and regulations may adversely affect the Company’s financial position or results of operations
Although the federal government does not directly regulate the insurance industry, federal legislation, administrative policies and court decisions may significantly and adversely affect certain areas of the Company’s business
In addition to product tax issues, these areas include pension and employee welfare benefit plan regulation, financial services regulation and taxation generally
For example, the following events could adversely affect the Company’s business: • changes in laws such as ERISA, as amended, that apply to group annuities (see Part I, Item 1—Business —Regulation—ERISA Considerations for a complete discussion of ERISA); • changes in tax laws that would reduce or eliminate the tax-deferred accumulation of earnings on the premiums paid by the holders of annuities and life insurance products; • repeal of the federal estate tax; • changes in applicable regulations that could restrict the ability of some companies to purchase certain COLI products; 18 ______________________________________________________________________ [53]Table of Contents • changes in the availability of, or rules concerning the establishment and operation of, Section 401(k), 403(b) and 457 plans or individual retirement accounts; • changes in tax laws (see Part I, Item 1—Business—Regulation—Potential Tax Legislation for a description of risk factors related to potential tax legislation); or • changes in tax regulations, such as the proposed regulations that would alter the way tax sheltered annuities described in Section 403(b) of the IRC may be offered and sold
Litigation or regulatory actions in connection with late trading, market timing, compensation and bidding arrangements, unsuitable sales and replacements, the use of finite reinsurance and/or other sales practices could have a material adverse effect on the Company