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BUSI121 > Vocab > Flashcards

Vocab Flashcards

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1
Q

Absolute frequency

A

Number of times a data value occurs within a distribution

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2
Q

Annual percentage rate (APR)

A

Contracted rate plus any non interest finance charges expressed on an annual basis

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3
Q

Annuity

A

Any investment with a sequence of periodic payments made at equal intervals of time over a specified term

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4
Q

Arithmetic mean

A

Some of numbers divided by number of numbers, (u)

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5
Q

Balloon.
Payment

A

Any payment to principle over and above the regular payment

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6
Q

Best fit regression line

A

The regression lined that minimizes the sum of the squared errors by the least squares method

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7
Q

Bimodal

A

Refers to a distribution with two modes

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8
Q

Bivariate regression analysis

A

The calculation of a straight line that best summarizes an assumed underlying linear relationship between variables

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9
Q

Bonus

A

The portion of the face value of a mortgage loan that exceeds the funds actually received by the borrower and is intended as an additional compensation for the lender

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10
Q

Book value

A

The original face value of the mortgage less the amount of principal repayment or the mortgage amount outstanding at a particular appointment time. At origination, book and face values are the same.

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11
Q

Capitalization

A

Changing a stream of income to a capital market value (current market value) using a required rate of return

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12
Q

Capitalization rate

A

The return and investor requires for investing in a property to receive the annual net operating income flow. It can be estimated from similar properties by dividing their estimated net operating incomes by the prices at which the properties sell.

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13
Q

Cluster sampling

A

A sampling procedure in which population is divided into groups, some of which are randomly selected for anaysyis; same as area sampling

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14
Q

Coefficient of determination

A

Indicates how well a regression model explains the variation in the dependent variable. Equals the linear correlation coefficient squared

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15
Q

Coefficient of dispersion

A

Expresses the average absolute deviation as a percentage of the median; the most commonly used measure of uniformity in mass assessment

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16
Q

Coefficient of variation

A

A measure designed to allow comparisons between the standard deviations of two datasets

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17
Q

Convenience sampling

A

A sampling procedure where the criterion for inclusion is the convenience of the sampler

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18
Q

Cost of funds advanced (COFA)

A

The rate of interest charged on the mortgage loan amount after all fees have been deducted

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19
Q

Cross section data

A

Data on one or more variables taken from the same time period

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20
Q

Cross tabulation analysis

A

Technique of data analysis in which a table is constructed showing the number of observations in the dataset that have given values for each of the two variables

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21
Q

Debt financing

A

Incurring an obligation to repay a debt in order to invest or consume more than one currently owns

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22
Q

Debt servicing

A

The making of mortgage payments by the borrower as arranged with the lender

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23
Q

Differed annuity

A

Where the cash flow has all the characteristics of an annuity , but where the present value is calculated for some point in advance of the beginning of the first payment period

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24
Q

Discreet variable

A

A variable that can assume only a limited number of values such as whole number

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25
Discount loan
Alone on which payments are determined by the face value but where the borrower receives a lesser amount
26
Discount rate
The interest rate used to determine the present value of future cash flows
27
Discounted cash flows
A method of valuing an asset using the concepts of time value of money where future cash flows are discounted to give a present value
28
Effective annual interest rate
Annual interest rate compounded once a year denoted as j
29
Error
The actual value of the dependent variable.Minus the predicted value of the dependent variable for any given observation
30
Equivalent rate
Two interest rates are equivalent if for the same amount of borrowed over the same period of time the same amount is owed at the end of that period of time
31
F value
Measures whether the overall regression relationship is significant, also known as f statistic
32
Fee simple
The legal term for the maximum interest in land available to a person, or the maximum of legal ownership. Equivalent in many ways for practical purposes to absolute ownership
33
Final payment
The last installment made on a fully emerged loan usually smaller than the preceding periodic payments
34
Frequency distribution
A listing of data values accompanied by the number of times each value occurs
35
General anuity due
And annuity with payments due at the beginning of the payment period and a payment period not identical to the interest compounding period Eg: car lease
36
Graphic method
A method in which the best fit regression line is determined by plotting the data And then subjectively choosing a line that appears to fit the data best
37
Histogram
A graph of the relationship between data values for group data and their frequencies for the group data
38
Holding period
Length of time of an investment and or loan
39
Index number
A measure of how variable or variables change over time
40
Interest adjustment
The process of calculating compound interest payable on the amount borrowed between the day the moneys are advanced and the day the amortization period starts
41
Internal rate of return
The discount rate.At which the present value of all future cash flows equals the initial investment
42
Irregular variation
Fluctuations occurring through time that are completely unpredictable and sporadic
43
Lending value
The estimated value of a property for lending purposes.It is a long term conservative estimate of the value of the security as determined by the lender and therefore does not necessarily equal market value or sale price
44
Linear correlation coefficient
A measure of the strength of the relationship between 2 variables.The coefficient denoted as r varies between -1 (negative correlation) and +1 (positive correlation). A coefficient of zero indicates the variables are uncorrelated
45
Market value of a property
Expected or forecasted sale price
46
Market value of an offer
Today's cash equivalent price
47
Mean absolute deviation
Measures the average spread or difference between a ratio and the median ratio (used in assessment)
48
Measure of central tendency
A measure that can be used as a typical value
49
Measure of dispersion
A measure that indicates how spread out of distribution is
50
Median
A measure of central tendency given by the middle value or the mean of the two middle values when the data are arranged in ascending or descending order
51
Mode
A measure of Central tendency given by the most frequent value.If all values occur with equal frequency , there is no mode
52
Moving average
A series of arithmetic means used to smooth time series data.
53
Moving total
A series of totals or sums of data from consecutive time periods used to compute a moving average
54
Multicollinearity
When two or more of the elements in a regression model are moderately or highly correlated
55
Net present value
The difference between the present value of all future cash flows and the cost of the investment
56
Multivariate regression analysis
Regression analysis in which there is one dependent variable and more than one independent variable
57
Nominal interest rate
An interest rate quoted as per annum with a stated compounding frequency , it is equal to the interest Rate per compounding period multiplied by the number of compounding periods
58
Non response error
Errors due to the different characteristics of respondents and non respondents
59
Normal distribution
Distribution of data that a symmetric around the mean it is bell shaped and has a single peak
60
Ordinary general annuity
An annuity with payments due at the end of the payment period and a payment period not identical to the interest compounding period Eg: mortgage
61
Ordinary simple annuity
An annuity in which payments are due at the end of the payment period and the payment interval is identical to the Interest compounding period Eg: car loan
62
periodic rate
The interest rate that is charged per compounding period EG per month denoted as i
63
Present value ratio
Present value of net cash flows divided by the cost of the investment
64
Price related differential
Measures appraisal regressivity or progressivity calculated by dividing the mean of the ASRs by the aggregate ratio
65
Profitability index
Present value of positive cash flows divided by present value of negative cash flows
66
Quantity Index
An index to compare the quantities of one or more products over two time periods
67
Quota sampling
A sample in procedure were a specified number of elements in each strata or group is selected
68
Range
A measure of dispersion given by the maximum minus the minimum
69
Relative frequency
The number of times each data value occurs within a distribution divided by the total number of data values
70
Residual method
A technique for determining the typical variation based on comparison of actual and predicted trend values
71
Sale/leaseback
Situation in which the vendor will lease the subject property back from the purchaser
72
Sample bias
Errors arising in a sampling process
73
Seasonal index
Actual value divided by mean value expressed as a percentage
74
Secular trend
A long running pattern in time series data
75
Simple anuity due
An annuity with payments due at the beginning of the payment period and a payment interval identical to the interest compounding period Eg: car lease (when stated annually)
76
Sinking fund
A reserve established by setting aside revenue to fund a future capital expense or repay long term debt obligations eg. Principle on interest only loan.
77
Standard deviation
A measure of dispersion of a distribution around its mean
78
Standard error of the estimate
A measure of the average disparity between the actual and predicted values of the independable variables.It is a measure of how good the best fit regression line is
79
Standard error of the mean
A measure of dispersion in the distribution of means of random samples that are the same size and are drawn from the same population
80
Stratified random sampling
A sampling method where the elements of the population are first stratified , then a sample is selected from each of the strata using a random sampling technique
81
Summary measure
A single number or measure that summarizes the distribution without listing every value
82
Systematic sampling
Assampling procedure where every nth item in the population is chosen
83
T-statistic
Indicates the degree of confidence that can be placed on the regression coefficients
84
Time series data
Data on one or more variables taken from one or more time periods
85
Treasury bill
A short term promissory note issued by the Government of Canada to finance ongoing expenditures in excess of current tax revenues
86
Trend
A regular pattern and time series data
87
Value index
An index to compare the value of several products over two time periods
88
Variance
A measure of dispersion of a distribution around it's mean; the square of the standard deviation
89
Vendor supplied mortgage or take back mortgage
Where a vendor sells their home with a portion of the purchase price paid with the mortgage
90
Reversionary value
Value when property reverts to owner after lease
91
Coupon bonds
Bonds that pay interest only at coupon rate and principal at maturity.
92
Agreement for sale
Rent to own. Buyer holds title charge. Seller holds title
93
Interest rate buy down
$500,000 at 5% becomes $550,000 at 2.6% but the buyer only receives 500,000
94
Lender bonus
Fee charged to increase value of loan. Usually realized as having a higher face value than what the borrower receives.

BUSI121 (3 decks)

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