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The normal distribution has a greater percentage of its area close to the mean and much less in the tails.
-Assume that adults have IQ scores that are normally distributed with a mean of 100 and a standard deviation of 15 (as on the Wechsler test) . Find P30, which is the IQ score separating the bottom 30% from the top 70%.
Fair Value
The value received from selling an asset or the expense of transferring a liability in a regulated transaction among market players on the date of evaluation.
Sale of Receivables without Recourse
A financial transaction where a business sells its accounts receivable to a third party without the obligation to repay if the third party fails to collect the receivables.
Required Disclosure
Mandatory information that companies must provide in their financial statements to give a full and fair view of their financial performance and position.
Securitization Entity
A special purpose vehicle (SPV) structured to pool various financial assets and then issue new securities backed by those assets.
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