Provisional Income

What is ‘Provisional Income’ Provisional income is an IRS threshold above which social security income is taxable. The base, from §86 of the Internal Revenue Code (IRC), triggers taxability social security benefits requiring its inclusion in gross income tax payment on excess amounts. BREAKING DOWN ‘Provisional Income’ For the 2017 tax year, fifteen percent (15%) of all social security benefits remain tax-free. The remaining eighty-five … Read more

Liberalization Clause

What is ‘Liberalization Clause’ A liberalization clause is an insurance policy provision allowing adjustments to existing coverage to comply with changes to laws and regulations. Property insurance is the most likely place to find a liberalization clause. BREAKING DOWN ‘Liberalization Clause’ In the United States, each state primarily regulates the sale of insurance policies. State laws … Read more

Outside Sales

What is ‘Outside Sales’ Outside sales is the sale of products or services by sales personnel who go out into the field to meet with prospective customers. Outside sales professionals tend to work autonomously outside a formal office and formal team environment. They often travel to meet customers face-to-face, as well as to maintain relationships … Read more

The World's Top 10 Investment Banks

Investment banking is a stream of banking that primarily focuses on capital financing for global and local businesses, individuals and even governments. These diversified finance requirements can be in the form of equity/debt IPO, bonds offering, mergers and acquisitions, portfolio management, etc.  How are investments banks ranked? While there can be several criteria, the easy ones to look at are … Read more

Title Insurance

What is ‘Title Insurance’ Title insurance is indemnity insurance that protects the holder from financial loss sustained from defects in a title to a property. The most common type of title insurance is lender’s title insurance, which the borrower purchases only to protect the lender. Owner’s title insurance, paid for by the seller to protect … Read more

What major is required to take the Series 7 examination?

A: The Series 7 exam  is administered by the Financial Industry Regulatory Authority (FINRA) and provides an individual with the qualifications necessary to make different types of trades as a general security representative. There are no prerequisite educational requirements for the Series 7 exam. However, starting in October 2018, FINRA will be making major changes to their exam … Read more

Continuing Care Retirement Community

DEFINITION of ‘Continuing Care Retirement Community’ A continuing care retirement community (CCRC) is a residential facility or property that provides housing, meals, healthcare and social activities for seniors throughout the rest of their lives that are tailored to their changing needs. Continuing care retirement communities, or CCRCs, allow residents to transition from independent living to assisted living … Read more