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Address Service Requested An Ancillary Service endorsement printed on mail by the sender that directs USPS to forward undeliverable-as-addressed mail and provide the sender notice of the new address. If no change-of-address order is on file or the time period for forwarding has expired, the piece is returned to the sender with the reason for...
An OMB Control No or sometimes just OMB Number is a document reference number created and managed by the United States Office of Management and Budget. OMB Control numbers help to manage the lifecycle of documents circulating through the various federal government agencies. In most circumstances, OMB Control Numbers are valid for 3 years. If...
ADC A presort level in which all pieces in the bundle or container are addressed for delivery in the service area of the same area distribution center (ADC). An abbreviation used on mail container labels that identifies the contents as area distribution center (ADC) mail (i.e., the ZIP Codes on the mail are served by...
Address Management System (AMS) The national USPS database of every delivery address with its associated ZIP Code, ZIP+4 code, and city/state name that serves as the foundation of data for all address correction tools.
Resequence Occurs when transaction cannot be posted or processed until the following week or cycle at the Martinsburg Computing Center. For example: Tax data on an invalid SSN are moved by the computer to a valid SSN as a result of the validation of SSNs from Social Security records with our records.
Acronyms – TERM IRS A current listing of abbreviations/acronyms can now be found on the MITS web site. The abbreviations/acronyms below only refer to the data and text in this document. For command codes, refer to http://bbs.is.irs.gov Acronyms Definition 23C Assessment Date; Master File Notice Date A/R Accounts Receivable AAC Automated Accounting System also AIMS...
ANK Link An enhancement to NCOALink software that allows authorized licenses to acquire 30 months of limited change-of-address data beyond the 18-month period of complete data available through NCOALink software. Although ANKLink software does not return the new address as done by NCOALink software, it indicates customer moves for addresses that have occurred in months...
Ownership of Offeror (OoO) What is OoO? The Department of Defense (DOD), General Services Administration (GSA) and National Aeronautics and Space Administration (NASA) have revised the FAR that now requires that offerors provide their CAGE codes to contracting officers and that, if owned or controlled by another entity, offerors will provide, in a new provision...
The Code of Federal Regulations (CFR) is the codification of general and permanent rules published in the Federal Register by the executive departments and agencies of the federal government. It is divided into 50 titles representing broad fields that are subject to federal regulations. Each CFR volume is updated once per calendar year and released...
A découvert (French)Universal Postal Union term: (1) An item with no envelope or packing found (“discovered”) in the mail. (2) An item for a particular country of destination inserted in a dispatch for an intermediate country.
Army Post Office APO A branch of a designated USPS civilian Post Office, under the jurisdiction of the postmaster of either New York City or San Francisco, that serves Army or Air Force personnel. APOs distribute mail to and from military personnel.
A non-Coring Needle is a sharp needle that has been sandblasted and smoothed to reduce unnecessary Coring. The Non-Coring Needle features an oblique portion where the tip raises above the midline to minimize friction with the surrounding tissue. Many Non-Coring Needle by many companies producing medical equipment, and each needle has a different type...
Etym. psychology (n.) 1650s, “study of the soul,” from Modern Latin psychologia, probably coined mid-16c. in Germany by Melanchthon from Latinized form of Greek psykhe- “breath, spirit, soul” + logia “study of.” Meaning “study of the mind” first recorded 1748, from Christian Wolff’s “Psychologia empirica” (1732); main modern behavioral sense is from early 1890s. Etym....
CMII / CMIIT identifiers are unique license numbers assigned by the Chinese Ministry of Industry and Information Technology (very similar to the FCC in the USA). CMII / CMIIT identifiers give certification that approves and licenses any radio equipment used and sold in China. These certificates are in place to ensure the safety of consumer...
Table of Contents Page Numbers Glossary of Acronyms and Terms 2-8 OBTS Events 9-10 Jail Codes 11 Disposition Legend Codes 12-13 Acronym or Term Definition A Arrest – The charging of an individual with the offense or violation or the execution of an arrest warrant. The arrest process may include booking, fingerprinting, but...
Intermodal Equipment Provider (IEP) Any person who interchanges intermodal equipment with a motor carrier pursuant to a written interchange agreement or has a contractual responsibility for the maintenance of the intermodal equipment.
Accountable Paper Paper in a postal facility that holds monetary value and must be accounted for including postage stock, International Reply Coupons, migratory bird hunting and conservation stamps, philatelic products, blank Postal Money Order forms, and items awaiting destruction
AADC (1) A presort level in which all pieces in the bundle or container are addressed for delivery in the service area of the same automated area distribution center (AADC). (2) An abbreviation used on mail container labels that identifies the contents as automated area distribution center mail (i.e., the ZIP Codes on the mail...
For-Hire Carrier A commercial motor carrier whose primary business activity is the transportation of property or passenger by motor vehicle for compensation.
The recall coordinator is responsible for handling product recall processes by following FDA regulations and McKesson’s medical and surgical procedures and policies. The recall coordinator ensures the safety of our customers when notified of a product problem that requires customers to stop use, distribution centers to halt shipments, and requires isolation and containment of the...
“Government Official” Meaning A government official is defined as an official who has held a civil office in government with or without being elected. This includes both people who have been appointed to serve or are part of civil service. The term includes any elected or appointed government official (e.g., a member of a ministry...
The DLA Logistics Information Service, located in Battle Creek, Michigan, assigns all NSNs at the request of the military services, certain federal and civil agencies, and foreign friendly countries. Each NSN assigned to an item of supply is the result of a careful review process known as cataloging. Cataloging is the process whereby each item...
Note: this term is often synonymous with Standardized Patient Etym. simulated (adj.) 1620s, “feigned,” past participle adjective from simulate (v.). Meaning “imitative for purposes of experiment or training” is from 1966; commercial jargon, “artificial, imitation” by 1942. Etym. patient (n.) “suffering or sick person under medical treatment,” late 14c., from Old French pacient (n.), from...
Etym. system – (n.) 1610s, “the whole creation, the universe,” from Late Latin systema “an arrangement, system,” from Greek systema “organized whole, a whole compounded of parts,” from stem of synistanai “to place together, organize, form in order,” from syn- “together.” Meaning “set of correlated principles, facts, ideas, etc.” first recorded 1630s. Etym integration (n.)...
Address Correction Service A system of Ancillary Service endorsements that enables a mailer to obtain an addressee’s new (forwarding) address if it is actively on file with USPS or the reason for nondelivery for an undeliverable-as-addressed mailpiece. This service is available alone using the Change Service Requested endorsement or as part of other Ancillary Service...
Ancillary Service Endorsement A specified marking (wording) on the address side of a mailpiece added by a mailer to request an Ancillary Service that directs USPS how to handle undeliverable-as-addressed (UAA) mail and provide any corresponding address correction service.
Aspect Ratio The dimension of a mailpiece expressed as a ratio of length (the direction parallel to the address) divided by height. For example, a postcard 5-1/2 inches long by 3-1/2 inches high has an aspect ratio of 1.57. An aspect ratio between 1.3 and 2.5, inclusive, is required for automation compatibility. For First-Class Mail...
The hypotube is a professionally engineered metal tube that runs along the tube. This tube is a significant component of the catheter, where a long, narrow tube called a catheter is inserted into a blood vessel in your leg or arm. The catheter is guided through the blood vessel to the coronary arteries with the...
Administrative Support Manual (ASM) A directive that contains policy and procedures for various administrative and support functions. These include postal organization, audits and investigations, communications, relations with other organizations, facilities and equipment, support services, supply management, and information resources. It is one of the policy manuals.
An FRN, or FCC registration number, is a 10-digit number that is assigned to a business or individual registering with the FCC. This unique FRN is used to identify the registrant’s business dealings with the FCC. FRNs created in the Legacy CORES have a password. Presently, some FCC licensing systems allow you access using the...
Accounting Service Center (ASC) An accounting and disbursing facility that provides accounting support for postal activities. Each ASC specializes in one or more functions: Minneapolis, MN, payroll; San Mateo, CA, accounts payable, assets, and Centralized Account Processing System (CAPS); and St. Louis, MO, Postal Money Orders, customer insurance claims and inquiries for lost or damaged...
A National Stock Number is simply the official label applied to an item of supply that is repeatedly procured, stocked, stored, issued, and used throughout the federal supply system. It is a unique item identifying series of numbers. When a NSN is assigned to an item of supply, data is assembled to describe the item....
Abbreviations and Acronyms A AADC – automated area distribution center ABE – Automated Barcode Evaluator ABMPS – Automated Business Mail Processing System AC – actual count ACDCS – Air Contract Data Collection System ACS – Address Change Service ACT – air contract transportation tag ADAPT – Automatic Density Analysis Profile Technique ADC – area distribution center...
Motor Carrier Census Database A database on the USDOT mainframe computer containing information identifying interstate and intrastate commercial carriers. A unique USDOT Number is assigned to each carrier in the database and is used to link records in the Inspection Database to the appropriate carriers in the Census Database.
Acronym / Abbreviation An authorized acronym or abbreviation of the term (e.g., ADC for area distribution center). Some acronyms or abbreviations are trademarked or registered (e.g., EPM® for Electronic Postmark and ACS™ for Address Change Service) even when the term itself is not trademarked or registered. Not every term entry includes an authorized acronym or...
AGREEMENT – USDA FOODS, PROCESSING: A legal document entered into between a processor and a distributing agency or eligible recipient agency that provides for the further processing of USDA Foods. Processing agreements are not viable until the distributing agency approves them prior to the commencement of processing. A processing agreement is also referred to as...
Florida Department of Transportation Naming Conventions Attributes, Columns and Elements Data Administration 2/28/2012 Document the naming conventions used by the Florida Department of Transportation (FDOT) for naming Repository Elements. Purpose To define and document the naming conventions used by the Florida Department of Transportation (FDOT) for naming Repository elements and database table columns. References...
Milestone payment Meaning Milestone payment is simply a certain percentage of the project’s fee that the client pays throughout the project rather than paying 100% at the end. They are a series of payments, each of which is made upon the accomplishment of defined objectives. One rough example of a milestone payment system would be...
Etym. genitourinary (adj.) of or relating to the genital and urinary organs or functions. genitals (n.) “reproductive organs,” especially the external sexual organs, late 14c. Compare Genitalia. Definition A Genitourinary Teaching Associate (GUTA) is an individual trained to teach the techniques and protocol for performing the gender-specific physical examination to learners, using himself or herself...
To support use of the global LEI, the FSB’s recommendations allow for jurisdictions to serve as early adopters of a global LEI. In the United States, the Commodity Futures Trading Commission (CFTC) has issued a rule requiring swap counterparties to be identified by a legal entity identifier by July 16, 2012. Because the global LEI...
Etym. hybrid (n.) “a product of two heterogeneous things” emerged c. 1850. Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition The union of two or more modalities of simulation with...
Ancillary Service (1) Formally, an optional Special Service purchased for a fee in addition to the postage applicable to the mail class or product. These optional services vary in nature, and most may be purchased only for specific mail products or mailpiece shapes. Ancillary Services include Address Correction Service; Applications and Mailing Permits; Business Reply...
Annex A subsidiary building separate from a parent network mail processing facility or delivery unit (called carrier annex) that supports the need for additional operational floor space.
Associate Post Office™ AO A Post Office that reports to a larger Post Office or that is within the service area of a sectional center facility (SCF). It usually receives and dispatches all mail classes and products from and to the SCF or a processing and distribution center. Also called associate office.
Automated Parcel and Bundle Sorter (APBS) An upgraded Small Parcel and Bundle Sorter with a new control system, barcode and optical character reader technology, and improved induction stations.
“connection reset by peer meaning” is the TCP / IP equivalent of locking the phone back on the hook. Or, it simply means that the device encounters a network error when receiving data from the server. It’s more polite than just not responding and leaving someone hanging out. But it’s not the FIN-ACK expected from...
Macro (short for “macro help”) requests an assembler program to handle a predefined sequence of instructions called a macro definition. It is a programmable pattern that converts a set of input values into output values. By representing a complex series of keystrokes, mouse gestures, instructions, or other forms of notes, macros can make tasks less...
Physiology (or physiology) is studying the vital functions of living organisms, whether their nature is biochemical, physical or mechanical. It is one of the branches of biology that studies the changes that occur to the functions of an organism. Some doctors and scholars working in this branch of science were famous in different eras, beginning...
Singapore Radio Type Approval (IMDA) is a technical specification and compliance process for radio communications equipment used in the country. The process is managed by the Infocomm Media Development Authority (IMDA), which is the regulatory body for the telecommunications and media industries in Singapore. IMDA provides guidelines for radio equipment type approval, which manufacturers must...
Welcome to Glossary.Guide a consolidated resource for long-tail definitions, acronyms and F.A.Q. content. GG is intended to become a resource for public-domain definitions and encyclopedia content. -Lexi C On
The establishment of a global LEI system will be a significant achievement in responding to the vulnerabilities of the global financial system and will provide meaningful long-term benefits for both the public and private sectors. When Lehman Brothers collapsed in 2008, financial regulators and private sector managers were unable to assess quickly the extent of...
CAGE and NCAGE code registration procedures Change-of-Name Agreement: Used for changing a company name or individual listed in the legal business name field due to an acquisition, merger, or other reason for a name change, when there is an open U.S. Government contract. Correction-of-Name Agreement: Used for correcting a company name or individual listed in...
The Defense Logistics Agency (DLA) Commercial and Government Entity (CAGE) codes.
What is a North Atlantic Treaty Organization Commercial and Government Entity (NCAGE) code? An NCAGE is a five-character alpha-numeric identifier assigned to entities located OUTSIDE of the U.S. and its’ territories. Based on the location of the entity, NSPA will either assign/update or route to the applicable National Codification Bureau for assign/update action.
Why do I need a CAGE code? The CAGE code is used to support a variety of procurement and acquisition processes throughout the U.S. Government. How do I register a CAGE code? If you are doing business with the U.S. Government to include contracts and grants, you must register at SAM. During this process you will...
Do CAGE codes expire? Yes. Effective 26 August 2016, a CAGE Expiration Date is now assigned to every U.S. CAGE code that is assigned or updated, based upon the date of the last update received by the CAGE Program. The CAGE codes are given an expiration date of five years from the last update. The...
Data Universal Numbering System What is a DUNS Number? The DUNS Number is a unique nine-digit identification number provided by D&B. DUNS Number assignment is FREE for all businesses required to register with the U.S. Government for contracts or grants. What is a DUNS +4? A DUNS plus four is an alphanumeric four character set that...
System for Award Management What is SAM? Register your entity (business, organization, individual, or government agency) to do business with the U.S. Government. SAM is the official U.S. Government system that consolidated the capabilities of CCR/FedReg, ORCA, and EPLS. It is FREE to register in SAM.gov for any entity. Find FREE training and support material for registering...
ACO – Administrative Contracting Officer APOC Alternate Point of Contact CAGE Commercial and Government EntityCIC Customer Interaction CenterCSI CAGE Search and Inquiry D&B Dun and BradstreetDBA Doing Business AsDFARS Defense Federal Acquisition Regulation SupplementDLA Defense Logistics AgencyDOD Department of DefenseDODAAC Department of Defense Activity Address CodeDUNS Data Universal Numbering System EIN Employer Identification Number FAR...
How to Obtain a NATO Commercial and Government Entity (NCAGE) Code If the NCAGE code has already been registered, you can search for it here. The Commercial and Government Entity Code also known as CAGE Code, is a code assigned to businesses providing a product or service to the United States (U.S.) Government. In the...
An FRN, or FCC registration number, is a 10-digit number that is assigned to a business or individual registering with the FCC. This unique FRN is used to identify the registrant’s business dealings with the FCC. The FCC will use the FRN to determine if all of a registrant’s fees have been paid. Businesses are...
12b-1 Fees are fees paid out of fund assets to cover the costs of marketing and selling fund shares. “Distribution fees” include fees to compensate brokers and others who sell fund shares, and to pay for advertising, and printing and mailing prospectuses to new investors. “Shareholder Service Fees” are fees that cover the cost of...
The LEI is a reference code to uniquely identify a legally distinct entity that engages in a financial transaction. Currently, there are many ways to identify entities, but there is no unified global identification system for legal entities across markets and jurisdictions. The LEI will be a linchpin for financial data—the first global and unique...
An employer-sponsored retirement savings plan that gives employees a choice of investment options, typically mutual funds. Employees who participate in a traditional 401(k) plan have a portion of their pre-tax salary invested directly in the option or options they choose. These contributions and any earnings from the 401(k) investments are not taxed until they are...
A type of tax-deferred retirement savings program available to employees of public schools, certain non-profits, and some members of the clergy.
A current or future student for whom the 529 account is established.
A person who establishes an account for a student to save money for qualified higher education expenses or tuition for elementary or secondary public, private, or religious schools; also called the account holder or the saver.
A type of 529 plan that lets an account owner open an investment account to save for the account beneficiary’s qualified higher education expenses or tuition for elementary or secondary public, private, or religious schools.
529 plan document that has detailed information about the 529 plan; often called a disclosure statement, disclosure document, program description, or offering document.
A financial services firm — a mutual fund company, a brokerage firm, an investment adviser, or an insurance company — that handles all of the transactions and investments within the plan.
A state, a state agency or educational institution that chooses a plan manager and determines the rules and limits for its plan.
A 529 plan is a tax-advantaged savings plan designed to encourage saving for educational costs. 529 plans, legally known as “qualified tuition plans,” are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code. There are two types of 529 plans: prepaid tuition plans and education savings plans. All...
Public companies file Form 8-K, known as the “current report,” to the SEC to announce major events that shareholders should know about, including bankruptcy proceedings, a change in corporate leadership (such as a new director or officer) and preliminary earnings announcements.
A fee that some funds separately impose on investors for account maintenance. For example, individuals with accounts below a specified dollar amount may have to pay an account fee.
For information on what to expect when opening a brokerage account, including what information you will need to provide, what decisions you will be asked to make, and what questions you should ask your broker, please read our Investor Bulletin: How to Open a Brokerage Account.
nder the federal securities laws, a company that offers or sells its securities must register the securities with the SEC or find an exemption from the registration requirements. The federal securities laws provide companies with a number of exemptions. For some of the exemptions, such as Rule 506 of Regulation D, a company may sell its securities to...
Interest earned on a security but not yet paid to the investor.
Advance fee frauds ask investors to pay a fee up front – in advance of receiving any proceeds, money, stock, or warrants – in order for the deal to go through. The advance payment may be described as a fee, tax, commission, or incidental expense that will be repaid later. Advance fee frauds may involve the...
Affinity fraud refers to investment scams that prey upon members of identifiable groups, such as religious or ethnic communities, the elderly, or professional groups. The fraudsters who promote affinity scams frequently are – or pretend to be – members of the group. They often enlist respected community or religious leaders from within the group to...
After-hours trading, also known as extended-hours trading, refers to trading that occurs outside of regular trading hours. Regular trading hours for stocks traded on exchanges and certain other markets are from 9:30 a.m. to 4:00 p.m. Eastern Time. After-hours trading sessions may occur before or after regular trading hours. The duration of after-hours trading sessions...
An All-Or-None (AON) order is an order to buy or sell a stock that must be executed in its entirety, or not executed at all. AON orders that cannot be executed immediately remain active until they are executed or cancelled. Learn More.
Alternative mutual funds (sometimes called alt funds or liquid alts) are publicly offered, SEC-registered mutual funds that hold non-traditional investments or use complex investment and trading strategies. Investors considering alt funds should be aware of their unique characteristics and risks. For more information, please read our Investor Bulletin: Alternative Mutual Funds.
Alternative Trading Systems (ATSs) are SEC-regulated electronic trading systems that match orders for buyers and sellers of securities. An ATS is not a national securities exchange. However, an ATS may apply to the SEC to become a national securities exchange. All current ATSs are “dark pools.” Dark pools are trading systems that allow their users to place...
The stocks of most foreign companies that trade in the U.S. markets are traded as American Depositary Receipts (ADRs). U.S. depositary banks issue these stocks. Each ADR represents one or more shares of foreign stock or a fraction of a share. If you own an ADR, you have the right to obtain the foreign stock...
Once-a-year meetings where the chief executive officer reports on the year’s results to shareholders. At this meeting, shareholders vote to elect the board of directors and on other corporate business.
The annual report to shareholders is a document used by most public companies to disclose corporate information to their shareholders. It is usually a state-of-the-company report, including an opening letter from the Chief Executive Officer, financial data, results of operations, market segment information, new product plans, subsidiary activities, and research and development activities on future...
A report filed to the SEC by public companies that includes the company’s history, audited financial statements, a discussion of products and services, a review of the organization and its operations, and a discussion of the company’s major markets.
An annual rate of return is the profit or loss on an investment over a one-year period. There are many ways of calculating the annual rate of return. If the rate of return is calculated on a monthly basis, multiplying it by 12 expresses an annual rate of return. This is often called the annual...
An annuity is a contract between you and an insurance company that is designed to meet retirement and other long-range goals, under which you make a lump-sum payment or series of payments. In return, the insurer agrees to make periodic payments to you beginning immediately or at some future date. Annuities typically offer tax-deferred growth...
Arbitration, a form of alternative dispute resolution, is a technique for the resolution of disputes outside the court system. In arbitration, the parties agree to have their dispute heard by one or more arbitrators and agree to be bound by their decision. Most account agreements between broker-dealers and their customers have arbitration clauses. The arbitration...
The term “bid” refers to the highest price a buyer will pay to buy a specified number of shares of a stock at any given time. The term “ask” refers to the lowest price at which a seller will sell the stock. The bid price will almost always be lower than the ask or “offer,” price....
In the over-the-counter market, the term “ask” refers to the lowest price at which a market maker will sell a specific number of shares.
Any tangible or intangible item that has value in an exchange. A bank account, a home, or shares of stock are all examples of assets.
Asset allocation involves dividing your investments among different categories, such as stocks, bonds, and cash.
Investments that have similar characteristics. The three main asset classes are stocks, bonds, and cash.
A sales charge, also known as a “deferred sales charge,” investors pay when they redeem (sell) mutual fund shares. Funds generally use these to compensate brokers.
The SEC routinely receives questions and complaints from investors about the investment products they have purchased. But not all investments are considered securities under the securities laws. For example, some products, such as notes that have been issued by a bank, may not be securities and are regulated by the banking authorities. If you have...
Filing for protection under the federal bankruptcy laws can help companies make plans to repay their debts. A bankrupt company might use Chapter 11 of the Bankruptcy Code to reorganize its business and try to become profitable again. During the period of the bankruptcy proceeding, management may continue to run the day-to-day business operations but...
A company may decide to declare bankruptcy when it suffers from crippling debt. Federal bankruptcy laws govern how the assets and business of a company will be used to clear its debts. There are two types of bankruptcy available to companies (Chapter 7 and Chapter 11), but regardless of the type of bankruptcy a company...
One one-hundredth (.01) of a percentage point. For example, eight percent is equal to 800 basis points.
A time when stock prices are declining and market sentiment is pessimistic. Generally, a bear market occurs when a broad market index falls by 20% or more over at least a two-month period.
A beneficial owner holds stocks indirectly, for example, through a bank or broker-dealer. Beneficial owners are sometimes said to be holding shares in “street name.”
The term “bid” refers to the highest price a buyer will pay to buy a specified number of shares of a stock at any given time. The term ask refers to the lowest price at which a seller will sell the stock. The bid price will almost always be lower than the ask or “offer,” price. The...
A binary option is a type of options contract in which the payout depends entirely on the outcome of a yes/no proposition and typically relates to whether the price of a particular asset will rise above or fall below a specified amount. Once the option is acquired, there is no further decision for the holder...
A blank check company is a development stage company that has no specific business plan or purpose or has indicated its business plan is to engage in a merger or acquisition with an unidentified company or companies, other entity, or person. These companies typically involve speculative investments and often fall within the SEC’s definition of...
In addition to the federal securities laws, every state has its own set of securities laws—commonly referred to as “Blue Sky Laws”—that are designed to protect investors against fraudulent sales practices and activities. While these laws do vary from state to state, most state laws typically require companies making offerings of securities to register their...
A group of people elected by shareholders to oversee the management of a corporation.
Boiler room schemes are large-scale operations designed to lure in as many investors to an investment scam as possible, often using high-pressure sales tactics. Boiler room scheme operators may cold call investors or solicit investors through emails, text messages, social media, and other means. Beware of boiler room scheme tactics, including: Aggressive Sales Tactics or Threats. ...
What is a bond fund? “Bond funds” and “income funds” are terms used to describe a type of investment company (mutual fund, ETF, closed-end fund or unit investment trust (UIT)) that invests primarily in bonds or other types of debt securities. Depending on its investment objectives and policies, a bond fund may concentrate its investments in a particular type of bond or debt...
The investor sells one bond and uses the proceeds to buy another bond, often at the same price.
A bond is a debt security, similar to an IOU. Borrowers issue bonds to raise money from investors willing to lend them money for a certain amount of time. When you buy a bond, you are lending to the issuer, which may be a government, municipality, or corporation. In return, the issuer promises to pay...
Corporate bonds are bonds issued by companies. Companies issue corporate bonds to raise money for a variety of purposes, such as building a new plant, purchasing equipment, or growing the business. Corporate bonds are debt obligations of the issuer—the company that issued the bond. With a bond, the company promises to return the face value of the...
Investors who hold a bond to maturity (when it becomes due) get back the face value or “par value” of the bond. But investors who sell a bond before it matures may get a far different amount. For example, if interest rates have risen since the bond was purchased, the bondholder may have to sell...
In an attempt to attract purchasers, some insurance companies offer variable annuity contracts with “bonus credits.” A bonus credit is the extra amount an insurance company agrees to add to the value of your contract-usually a specified percentage (typically ranging from 1% to 5%) of the payments you make during a certain time period. While...
Some mutual funds that charge front-end sales loads will charge lower sales loads for larger investments. For example, a fund might charge a 5% front-end sales load for investments up to $25,000, but reduce that to a 4% load for investments between $25,000 and $50,000 and 3% for investments exceeding $50,000. The investment levels required to obtain...
An individual who acts as an intermediary between a buyer and seller, usually charging a commission to execute trades. Brokers are required to seek the best execution of trades they make for clients, and if they recommend investments to clients, those investments must be suitable for the client.
For certain routine matters to be voted upon at shareholder meetings, if you don’t vote by proxy or at the meeting in person, brokers may vote on your behalf at their discretion. These votes may also be called uninstructed or discretionary broker votes. There are stock exchange rules regarding which routine matters brokers may vote...
Investors should always keep good records of their securities transactions, including copies of account statements, trade confirmations, and canceled checks. Although the federal securities laws require brokers to keep particular records for specified periods of time, your broker is not required to keep records indefinitely. You may have a difficult time obtaining copies of records from your...
Brokers generally request personal information from their customers, including financial and tax identification information, to comply with U.S. government laws and rules, as well as rules imposed by self-regulatory organizations (SROs). Brokers request personal information from new customers as well as from customers who have had long-standing relationships with their firms. Here are some of...
Generally, either you or your brokerage firm may close your brokerage account at any time. The specific steps you will need to follow to close your account are usually found in the terms and conditions of your brokerage account agreement. In addition, these terms and conditions generally specify when and how your brokerage firm may...
A time when stock prices are rising and market sentiment is optimistic. Generally, a bull market occurs when there is a rise of 20% or more in a broad market index over at least a two-month period.
Purchasing or owning shares of stock, with the expectation that the stock will rise in value.
Bonds that can be redeemed or paid off by the issuer prior to the bond’s maturity date.
These give the issuing bank the right to terminate – or “call” – the CD after a set period of time, but they do not give the CD holder the same right. If interest rates fall, the issuing bank might call the CD.
Callable or redeemable bonds are bonds that can be redeemed or paid off by the issuer prior to the bonds’ maturity date. When an issuer calls its bonds, it pays investors the call price (usually the face value of the bonds) together with accrued interest to date and, at that point, stops making interest payments. Sometimes a...
The profit that comes when an investment is sold for more than the price the investor paid for it.
Money that can be used to pay for goods or services.
A cash account is a type of brokerage account in which the investor must pay the full amount for securities purchased. An investor using a cash account is not allowed to borrow funds from his or her broker-dealer in order to pay for transactions in the account (trading on margin). The credit extension provisions of...
Don’t assume that a “federally insured one-year non-callable” CD matures in one year. It doesn’t. These words mean the bank cannot redeem the CD during the first year. A “one-year non-callable” CD may still have a maturity date that is years in the future.
A certificate of deposit (CD) is a savings account that holds a fixed amount of money for a fixed period of time, such as six months, one year, or five years. In exchange, the issuing bank pays you interest. When you cash in or redeem your CD, you receive the money you originally invested plus...
A broker typically earns a portion of the commissions or other fees on each purchase or sale of securities that the brokerage firm makes for an investor. When a broker engages in excessive buying and selling (i.e., trading) of securities in a customer’s account without considering the customer’s investment goals and primarily to generate commissions that benefit the...
Different types of shares issued by a single fund, often referred to as Class A shares, Class B shares, and so on. Each class of a fund holds identical investments and shares the same investment objectives and policies. But each class has different shareholder services with different fees and expenses, and therefore, each class will...
A class of fund shares without any front-end load, deferred sales charge, or other asset-based fee for sales or distribution. A broker would be expected to charge its customers commissions for effecting transactions in Clean Shares.
A closed-end fund, legally known as a closed-end investment company, is one of three basic types of investment companies The two other types of investment companies are open-end funds (usually mutual funds) and unit investments trusts (UITs). Exchange-traded funds (ETFs) are generally also structured as open-end funds, but can be structured as UITs as well. A closed-end fund invests the money...
“Closing price” generally refers to the last price at which a stock trades during a regular trading session. For many U.S. markets, regular trading sessions run from 9:30 a.m. to 4:00 p.m. Eastern Time. A number of markets offer after-hours trading and some financial publications and market data vendors use the last trade in these after-hours markets as...
You will likely pay a commission when you buy or sell a stock through a financial professional. The commission compensates the financial professional and his or her firm when it is acting as agent for you in your securities transaction.
The Committee on Uniform Securities Identification Procedures (CUSIP) number identifies most securities, including U.S. government and municipal bonds. CUSIP numbers are unique nine-character alphanumeric identifiers assigned to each series of securities.
The SEC’s Office of Investor Education and Advocacy (OIEA)receives many types of complaints from individual investors, including complaints against brokers, brokerage firms, investment advisers, transfer agents, mutual funds, and other market participants. Investors can submit a complaint form to OIEA to report problems with investments, an investment account, or a financial professional, including problems involving: Order handling,...
Interest paid on principal and on accumulated interest.
The “consolidated tape” is a high-speed, electronic system that reports the latest price and volume data on sales of exchange-listed stocks. The data reflected on the consolidated tape are generated by various market centers, including all National Securities Exchanges and Alternative Trading Systems, and broker-dealers trading off exchanges. Websites that provide updated market information and financial news programs...
A type of back-end load, the amount of which depends on the length of time the investor holds his or her shares. For example, a contingent deferred sales load might be 5% if an investor holds his or her shares for one year, 4% after two years, and so on until the load disappears completely.
A feature some funds offer that allows investors to automatically switch from one fund class to another, typically one with lower annual expenses, after a set period of time. The fund’s prospectus or profile will state whether the fund has a conversion feature.
A “convertible security” is a security—usually a bond or a preferred stock—that can be converted into a different security—typically shares of the company’s common stock. In most cases, the holder of the convertible determines whether and when to convert. In other cases, the company has the right to determine when the conversion occurs. Companies generally...
A framework which may include rules and regulations, corporate charter and bylaws, formal policies, as well as customs and other processes, that determines the leadership, organization, and direction of a company.
Corporate reports can provide important information for investors by, for example, telling you whether a company is making money or losing money and why. You’ll find this information in the company’s quarterly reports on Form 10-Q, annual reports on Form 10-K, and periodic reports of significant events on Form 8-K. It’s usually easy to find...
A feature of a bond that denotes the amount of interest due and the date that the payment will be made.
The dollar amount of interest paid to an investor. The amount is calculated by multiplying the interest of the bond by its face value.
The interest rate on a bond. It is expressed as a semi-annual rate.
Large blocks of shares in an ETF, typically 50,000 shares or more.
Provide their opinion on the creditworthiness of a corporate or government borrower by issuing a grade, or credit rating, on bonds issued by that borrower.
Cumulative voting is a type of voting system that helps strengthen the ability of minority shareholders to elect a director. This method allows shareholders to cast all of their votes for a single nominee for the board of directors when the company has multiple openings on its board. In contrast, in “regular” or “statutory” voting,...
The ratio of the interest rate payable on a bond to the actual market price of the bond, stated as a percentage. For example, a bond with a current market price of $1,000 that pays $80 per year would have a current yield of 8%.
Data tagging, in formats like XBRL or “eXtensible Business Reporting Language,” is gaining popularity as a way to enhance financial reporting. By using computer codes to “tag” different kinds of data in financial reports, the information companies file with the Commission can be made much easier to find and analyze. For example, specific items in...
Unless an investor specifies a time frame for the expiration of an order, orders to buy and sell a stock are “Day” orders, meaning they are good only during that trading day. Day orders that do not execute during regular trading hours expire and will not automatically carry over into after-hours trading or the next regular trading...
FINRA rules define a “day trade” as the purchase and sale, or the sale and purchase, of the same security on the same day in a margin account. This definition encompasses any security, including options. Selling short and purchasing to cover a position in the same security on the same day is also considered a...
Day traders rapidly buy, sell and short-sell stocks throughout the day in the hope that the stocks continue climbing or falling in value for the seconds or minutes they hold the shares, allowing them to lock in quick profits. Day trading is extremely risky and can result in substantial financial losses in a very short...
An unsecured bond backed solely by the general credit of a company.
A failure by an issuer to pay principal or interest when due, or to fulfill other obligations, such as reporting requirements.
With a deferred annuity, you make payments to an insurance company, which will be free from taxes until you reach a particular age or a date specified in your contact.
A sales charge, also known as a “Back-end Load,” investors pay when they redeem (sell) mutual fund shares. Funds generally use these to compensate brokers.
Defined benefit plans also are known as pension plans. Employers sponsor defined benefit plans and promise the plan’s investments will provide you with a specified monthly benefit at retirement. The employer bears the investment risks.
A retirement savings plan, such as a 401(k) plan, that does not promise a specific payment upon retirement. In these plans, the employee or the employer (or both) contribute to the employee’s individual account. The employee bears the investment risks.
Financial instruments whose performance is derived, at least in part, from the performance of an underlying asset, security or index. For example, a stock option is a derivative because its value changes in relation to the price movement of the underlying stock.
Information about a company’s financial condition and business that it makes public. Investors can use this information to make informed investment decisions about the company’s securities.
A bond sold before it matures might not sell at full par value. If it sells below par, it is selling at discount.
Short-term obligations issued at a discount from face value. Discount notes have no periodic interest payments; the investor receives the note’s face value at maturity. For example, a one-year, $1,000 face value discount note purchased at issue at a price of $950, would yield $50 or 5.26% ($50/$950).
Fees paid out of fund assets to cover marketing and selling fund shares. These fees may cover advertising costs, compensating brokers and others who sell fund shares, payments for printing and mailing prospectuses to new investors, and providing sales literature to prospective investors. Distribution fees sometimes are referred to as “12b-1 fees.”
So-called “12b-1 fees” are fees paid out of mutual fund or ETF assets to cover the costs of distribution – marketing and selling mutual fund shares – and sometimes to cover the costs of providing shareholder services. 12b-1 fees get their name from the SEC rule that authorizes a fund to charge them. The rule permits a fund to...
Diversification is a strategy that can be neatly summed up as “Don’t put all your eggs in one basket.” The strategy involves spreading your money among various investments in the hope that if one loses money, the others will make up for those losses.
A portion of a company’s profit paid to shareholders. Public companies that pay dividends usually do so on a fixed schedule although they can issue them at any time. Unscheduled dividend payments are known as special dividends or extra dividends.
Should problems arise with a company or its securities on deposit at The Depository Trust Company (DTC), DTC may impose a “chill” or a “freeze” on all the company’s securities. A “chill” is a restriction placed by DTC on one or more of DTC’s services, such as limiting a DTC participant’s ability to make a...
If a CD is redeemed before it matures, you may have to pay a penalty or forgo a portion of the interest.
A public company’s net profit divided by the number of its common shares.
EDGAR The SEC’s EDGAR database provides free public access to corporate information, allowing you to quickly research a company’s financial information and operations by reviewing registration statements, prospectuses and periodic reports filed on Forms 10-K and 10-Q. You also can find information about recent corporate events reported on Form 8-K. Learn more.
A type of 529 plan that lets an account owner open an investment account to save for the account beneficiary’s qualified higher education expenses or tuition for elementary or secondary public, private, or religious schools.
The Employee Retirement Income Security Act of 1974, which is administered by the U.S. Department of Labor. ERISA does not require employers to offer a pension plan. But it does require employers who do offer them to meet certain minimum standards.
Fees that direct-sold college savings plans may charge to join in the program
To determine whether you should get a dividend, you need to look at two important dates. They are the “record date” or “date of record” and the “ex-dividend date” or “ex-date.” When a company declares a dividend, it sets a record date when you must be on the company’s books as a shareholder to receive...
To determine whether you should get a dividend, you need to look at two important dates. They are the “record date” or “date of record” and the “ex-dividend date” or “ex-date.” When a company declares a dividend, it sets a record date when you must be on the company’s books as a shareholder to receive...
A fee that some funds impose on shareholders if they exchange (transfer) to another fund within the same fund group.
Exchange-traded funds (ETFs) are SEC-registered investment companies that offer investors a way to pool their money in a fund that invests in stocks, bonds, or other assets. In return, investors receive an interest in the fund. Most ETFs are professionally managed by SEC-registered investment advisers. Some ETFs are passively-managed funds that seek to achieve the...
The fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Regulation FD addresses the selective disclosure of information by publicly traded companies and other issuers. Regulation FD provides that when an issuer discloses material nonpublic information to certain individuals or entities—generally, securities market professionals, such as stock analysts, or holders of the issuer’s securities who may well trade on the basis of the information—the issuer must also...
The SEC collects fees under various provisions of the securities laws, including the following: Section 6(b) of the Securities Act of 1933 (for registrations of securities); Section 13(e) of the Securities Exchange Act of 1934 (for specified repurchases of securities); Section 14(g) of the Securities Exchange Act of 1934 (for proxy solicitations and statements in...
A Fill-Or-Kill order is an order to buy or sell a stock that must be executed immediately in its entirety; otherwise, the entire order will be cancelled (i.e., no partial execution of the order is allowed). Learn More.
The Financial Accounting Standards Board (FASB) is the accounting standard setter for purposes of the Federal Securities Laws. See GAAP.
The Financial Industry Regulatory Authority, a self-regulatory organization for the brokerage industry.
A financial planner typically prepares financial plans for his or her clients. The kinds of services financial planners offer can vary widely. Some financial planners assess every aspect of your financial life—including saving, investments, insurance, taxes, retirement, and estate planning—and help you develop a detailed strategy or financial plan for meeting all your financial goals....
Examples of financial products include but are not limited to the following: stocks, bonds, derivatives, and currencies.
You should check out the registration status and background of any financial professional before becoming a client. Even if a close friend or family member recommends a financial professional, you should still check out that person to make sure they are licensed and for signs of potential problems. Anyone registered to sell securities or provide...
An insurance product that promises a minimum rate of interest while your account is growing. The insurance company also guarantees that the periodic payment will be for a set amount for a fixed period, such as 20 years, or an indefinite period, such as your lifetime.
A long-term bond with a set interest rate.
A bond whose interest rate is adjusted periodically according to a predetermined formula; it is usually linked to an interest rate index such as LIBOR.
The lower limit for the interest rate on a floating-rate bond.
The Foreign Corrupt Practices Act (“FCPA”) generally prohibits the bribing of foreign officials. The FCPA also requires publicly traded companies to maintain accurate books and records and to have a sys-tem of internal controls sufficient to provide reason-able assurances that transactions are executed and assets are accounted for in accordance with management’s authorization and recorded...
A foreign currency exchange rate is a price that represents how much it costs to buy the currency of one country using the currency of another country. Currency traders buy and sell currencies through forex transactions based on how they expect currency exchange rates will fluctuate. When the value of one currency rises relative to...
Markets that trade currencies.
The SEC is the primary overseer of the U.S. securities markets while foreign regulators oversee securities markets in other jurisdictions. The SEC and most foreign securities regulators are members of International Organization of Securities Commissions (IOSCO), which develops, implements and promotes adherence to internationally recognized standards for securities regulation. If you are a U.S. investor with...
The federal securities laws require publicly reporting companies to disclose information on an ongoing basis. For example, domestic companies must submit annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K for a number of specified events and must comply with a variety of other disclosure requirements. The annual report on Form...
The federal securities laws require publicly reporting companies to disclose information on an ongoing basis. For example, domestic issuers must submit annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K for a number of specified events and must comply with a variety of other disclosure requirements. The Form 10-Q includes unaudited...
The federal tax laws require brokerage firms, mutual funds, and other entities to report on Form 1099 all investment income, usually interest or dividends, they have paid to investors during the previous tax year. Form 1099 is a tax form required by the Internal Revenue Service. The SEC does not provide tax advice or interpret...
An institutional investment manager that uses the U.S. mail (or other means or instrumentality of interstate commerce) in the course of its business, and exercises investment discretion over $100 million or more in Section 13(f) securities (explained below) must report its holdings quarterly on Form 13F with the Securities and Exchange Commission (SEC). In general, an institutional investment manager...
In addition to filing annual reports on Form 10-K and quarterly reports on Form 10-Q, publicly reporting companies must report certain material corporate events on a more current basis. Form 8-K is known as a “current report” and it is the report that companies must file with the SEC to announce major events that shareholders should know about. Companies generally...
Form ADV is the uniform form used by investment advisers to register with both the SEC and state securities authorities. The form consists of two parts, both of which are available to the public on the SEC’s Investment Adviser Public Disclosure (IAPD) website. Part 1 requires information about the investment adviser’s business, ownership, clients, employees, business...
Form CRS is a client or customer relationship summary. Advisers and brokers are required to deliver a relationship summary to you beginning in summer 2020. The relationship summary contains important information about the adviser or broker. Choosing or continuing to work with a financial professional is an important decision. Advisers and brokers offer different types...
Companies may use an exemption under Regulation D to offer and sell securities without having to register the offering with the SEC. When relying on such an exemption, companies must file what’s known as a “Form D” after they first sell their securities. Form D is a brief notice that includes basic information about the company and...
A person whose goal is to con people out of their money.
Variable annuity contracts typically have a “free look” period of ten or more days. During this period, you are free to terminate your contract without paying any surrender charges and you will receive a refund for the amount you paid. The “free look” period is a time for you to continue to ask questions so...
In a cash account, an investor must pay for the purchase of a security before selling it. If an investor buys and sells a security before paying for it, the investor is “freeriding” which is not permitted under the Federal Reserve Board’s Regulation T and may require the investor’s broker to “freeze” the investor’s cash account for 90 days. During this 90-day...
In a cash account, an investor must pay for the purchase of a security before selling it. If an investor buys and sells a security before paying for it, the investor is “freeriding,” which is not permitted under the Federal Reserve Board’s Regulation T and may require the investor’s broker to “freeze” the investor’s cash account for 90...
An upfront sales charge investors pay when they buy fund shares. It generally is used by the fund to compensate brokers. A front-end load is deducted from the purchase and reduces the amount available to buy fund shares.
The value of an asset at a specified date in the future.
An agreement to buy or sell a specific quantity of a commodity or financial instrument at a specified price on a particular date in the future.
Markets that trade futures contracts for commodities such as gold, oil or wheat, as well as financial futures.
A municipal bond not secured by any assets; instead it is backed by the issuer’s power to tax residents to pay bondholders.
GAAP (Generally Accepted Accounting Principles) are accounting standards, conventions and rules. It is what companies use to measure their financial results. These results include net income as well as how companies record assets and liabilities. In the US, the SEC has the authority to establish GAAP. However, the SEC has historically allowed the private sector...
A publicly held company generally means a company that has a class of securities that is registered with the SEC because those securities are widely held or traded on a national securities exchange. When a public company is eligible to deregister a class of its equity securities, either because those securities are no longer widely...
A Good-Til-Cancelled (GTC) order is an order to buy or sell a stock that lasts until the order is completed or canceled. Brokerage firms typically limit the length of time an investor can leave a GTC order open. This time frame may vary from broker to broker. Investors should contact their brokerage firms to determine...
Like mutual funds, hedge funds pool investors’ money and invest the money in an effort to make a positive return. Hedge funds typically have more flexible investment strategies than mutual funds. Many hedge funds seek to profit in all kinds of markets by using leverage (in other words, borrowing to increase investment exposure as well...
Bonds that are believed to have a higher risk of default and receive low ratings by credit rating agencies, namely bonds rated Ba or below (by Moody’s) or BB or below (by S&P and Fitch). These bonds typically are issued at a higher yield (for example, a higher interest rate) than more creditworthy bonds, reflecting...
High-Yield Investment Programs (HYIP) are unregistered investments typically run by unlicensed individuals – and they are often frauds. The hallmark of an HYIP scam is the promise of incredible returns at little or no risk to the investor. A HYIP website might promise annual (or even monthly, weekly, or daily!) returns of 30 or 40...
You can find the holiday schedules and trading hours for the national securities exchanges on each of their websites. You can find links to each exchange’s website here national securities exchange.
Investors often invest in funds through a variety of individual and family accounts and, as a result, sometimes receive multiple copies of the same documents from those funds. To avoid duplication, the SEC allows funds to deliver a single copy of the same document to investors who share the same address. The SEC’s so-called “householding...
This annuity has no accumulation phase. Instead, you start receiving annuity payments right after you purchase the annuity.
An Immediate-Or-Cancel (IOC) order is an order to buy or sell a stock that must be executed immediately. Any portion of an IOC order that cannot be filled immediately will be cancelled. Learn More.
Impersonators may falsely claim to be affiliated with the SEC (or another federal government agency) in an attempt to steal your personal information or your money. Federal government agencies, including the SEC, do not endorse or sponsor any particular securities, issuers, products, services, professional credentials, firms, or individuals. Fraudsters may use the names of real...
An “index fund” describes a type of mutual fund or unit investment trust (UIT) whose investment objective typically is to achieve approximately the same return as a particular market index, such as the S&P 500 Composite Stock Price Index, the Russell 2000 Index or the Wilshire 5000 Total Market Index. An index fund will attempt to achieve its investment objective...
An indexed annuity is a type of annuity contract between you and an insurance company. It generally promises to provide returns linked to the performance of a market index. There are two phases to an annuity contract – the accumulation (savings) phase and the annuity (payout) phase. During the accumulation phase, you make either a lump sum payment...
Investors are sometimes surprised to learn the SEC does not have information about all companies that offer and sell securities. When a company conducts a registered offering or an exempt offering under Regulation A or Regulation Crowdfunding, the company is required to file information about the company, including financial statements, and a description of the offering with the...
Before you invest in any traditional investment company—such as a mutual fund, closed-end fund, or unit investment trust (UIT)—you should read the fund’s prospectus and any other available information from the fund. Below you’ll find descriptions of the different types of information that investment companies provide to investors. For information available to exchange-traded fund (ETF) investors, please refer to that separate...
An initial public offering, or IPO, generally refers to when a company first sells its shares to the public. For more information about IPOs generally, see our Investor Bulletin. You can also find fast answers on why investors have difficulty getting shares in an IPO, a brokerage firm’s IPO eligibility requirements, and lockup agreements.
The underwriters and the company that issues the shares control the IPO process. They have wide latitude in allocating IPO shares. The SEC does not regulate the business decision of how IPO shares are allocated. While smaller or individual investors are finding it easier to buy IPO shares through online brokerage firms, they may still...
No brokerage firm can guarantee you will be able to purchase shares in an initial public offering (IPO). While it can be difficult for individual investors to buy IPO shares, more firms, including several online brokers, offer IPOs. Because these firms often have a small allotment of shares to sell to the public, your ability...
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Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, on the basis of material, nonpublic information about the security. Insider trading violations may also include “tipping” such information, securities trading by the person “tipped,” and securities trading by those who...
The price paid for borrowing money. It is expressed as a percentage rate over a period of time. Interest rates may be fixed, meaning the rate is set and will not change, or may be variable or “floating,” meaning the rate may move higher or lower over time.
The Internet allows individuals or companies to communicate with a large audience without spending a lot of time, effort, or money. Anyone can reach tens of thousands of people by building an Internet Web site, posting a message on an online bulletin board, entering a discussion in a live “chat” room, or sending mass e-mails....
An interval fund is a type of investment company that periodically offers to repurchase its shares from shareholders. That is, the fund periodically offers to buy back a stated portion of its shares from shareholders. Shareholders are not required to accept these offers and sell their shares back to the fund. Legally, interval funds are classified as closed-end...
To engage in any activity in which money is put at risk for the purpose of making a profit.
The SEC’s Division of Enforcement conducts investigations into potential violations of the federal securities laws. Common violations include misrepresenting important information about potential investments, manipulating the market prices of securities, stealing customers’ funds or securities, insider trading, and selling unregistered securities. Although each SEC investigation is unique, here are a few common characteristics: SEC investigations...
An investment adviser is a person or firm that is engaged in the business of providing investment advice to others or issuing reports or analyses regarding securities, for compensation. Investment advisers may include money managers, investment consultants, financial planners, general partners of hedge funds, and others who are compensated for providing advice about securities. Advice...
The Investment Adviser Public Disclosure (IAPD) database contains registration documents filed by investment adviser firms that register electronically using the Investment Adviser Registration Depository (IARD). IAPD also contains registration information filed with the states by individuals acting as investment adviser representatives, if they are required to register. Not all states require investment adviser representatives to register. Through IAPD, you can:...
The Investment Adviser Registration Depository (IARD) functions as a one-stop electronic filing system for investment advisers. All SEC-registered investment advisers and investment advisers applying to register with the SEC must file Form ADV and amendments to Form ADV electronically through IARD. Most states also require investment advisers registered in their states to submit filings electronically through IARD, although...
A company that issues and invests in securities. The three types of investment companies are mutual funds, closed-end funds, and unit investment trusts.
Bonds that are believed to have a lower risk of default and receive higher ratings by the credit rating agencies, namely bonds rated Baa (by Moody’s) or BBB (by S&P and Fitch) or above. These bonds tend to be issued at lower yields than less creditworthy bonds.
The entity obligated to pay principal and interest on a bond.
Terms used to describe a company’s size and market value (market capitalization).
Investors sometimes complain to the SEC staff about late payments of interest owed to them on their bonds. The SEC, however, does not generally regulate this issue. Instead, the process for paying bondholders ordinarily involves banking transactions that are subject to the supervision of state and federal banking authorities. Here’s how the process should work: the...
An amount owed to a person or organization for borrowed funds. Loans, notes, bonds, and mortgages are forms of debt. These different forms all call for borrowers to pay back the amount they owe, typically with interest, by a specific date, which is set forth in the repayment terms.
A diversified mutual fund that automatically shifts towards a more conservative mix of investments as it approaches a particular year in the future, known as its “target date.” A lifecycle fund investor picks a fund with the right target date based on his or her particular investment goal. The managers of the fund then make...
A limit order is an order to buy or sell a security at a specific price. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.
Liquidity generally refers to how easily or quickly a security can be bought or sold in a secondary market. Liquid investments can be sold readily and without paying a hefty fee to get money when it is needed. A stock’s liquidity generally refers to how rapidly shares of a stock can be bought or sold...
Before a company’s stock can begin trading on an exchange, the company must meet certain minimum financial and non-financial requirements, or “initial listing standards.” Initial listing standards generally include a company’s total market value and stock price, and the number of publicly traded shares and shareholders of the company. Once listed on an exchange, a...
The amount that investors pay when they buy (front-end load) or redeem (back-end load) shares in a mutual fund, similar to a commission. The SEC’s rules do not limit sales loads a fund may charge, but FINRA’s rules cap mutual fund sales loads at 8.5% of the purchase or sale, or at lower levels, depending...
The interest rates banks charge each other for short-term loans. LIBOR is frequently used as the base for resetting rates on floating-rate securities.
Congress directed the establishment of the Lost and Stolen Securities Program (LSSP) to curtail trafficking in lost, stolen, missing, and counterfeit securities certificates. Rule 17f-1 under the Exchange Act governs LSSP operations. The LSSP consists mainly of a database for securities that have been reported lost, stolen, missing, or counterfeit. The LSSP has two essential...
Brokerage firms, banks, transfer agents and corporations have procedures in place to help investors replace lost or stolen certificates. If your securities certificate is lost, accidentally destroyed, or stolen, you should immediately contact the transfer agent and request a “stop transfer” to prevent ownership of the securities from being transferred from your name to another’s....
A payment of a sum of money at one time, such as an inheritance.
Fees that direct-sold college savings plans may charge for continued participation in the plan.
A fee paid out of fund assets to the fund’s investment adviser for investment portfolio management. A fund’s management fees appear under Annual Fund Operating Expenses in the fee table in the fund’s prospectus.
A “margin account” is a type of brokerage account in which the broker-dealer lends the investor cash, using the account as collateral, to purchase securities. Margin increases investors’ purchasing power, but also exposes investors to the potential for larger losses. Learn More.
If you buy on margin and the value of your securities declines, your brokerage firm can require you to deposit cash or securities to your account immediately, or sell any of the securities in your account to cover any shortfall, without informing you in advance. The brokerage firm decides which of your securities to sell....
Market capitalization is the value of a corporation determined by multiplying the current public market price of one share of the corporation by the number of total outstanding shares.
A measurement of the performance of a specific “basket” of stocks considered to represent a particular market or sector of the U. S. economy. For example, the Dow Jones Industrial Average (DJIA) is an index of 30 “blue chip” stocks of U.S. companies.
A market index tracks the performance of a specific “basket” of stocks that represent a particular market or economic sector. U.S. examples include the Dow Jones Industrial Average, an index of 30 “blue chip” U.S. company stocks, the Standard and Poor’s 500 Index, and the Wilshire 5000 Index, which includes most publicly traded U.S. stocks.
A “market maker” is a firm that stands ready to buy or sell a stock at publicly quoted prices. Learn More.
Market manipulation is when someone artificially affects the supply or demand for a security (for example, causing stock prices to rise or to fall dramatically). Market manipulation may involve techniques including: Spreading false or misleading information about a company; Engaging in a series of transactions to make a security appear more actively traded; and Rigging...
A market order is an order to buy or sell a stock at the current market price. Unless you specify otherwise, your broker will enter your order as a market order. The advantage of a market order is that as long as there are willing buyers and sellers, you are almost always guaranteed your order...
For information on circuit breakers and other market volatility procedures please read our investor bulletin “New Measures to Address Market Volatility.”
When a broker-dealer sells you securities out of its inventory, the broker-dealer acts as a principal in the transaction (that is, selling to you directly the securities it holds). When acting in a principal capacity the broker-dealer generally will be compensated by selling the security to you at a price that is higher than the...
If you hold securities in physical certificate form and want to transfer or sell them, you will need to sign the certificates and securities powers–a legal document, separate from a securities certificate that investors use to transfer or assign ownership to another person or entity. You will need to get your signature guaranteed on all...
Arbitration, a form of alternative dispute resolution, is a technique for the resolution of disputes outside the court system. The parties to a dispute refer it to arbitration by one or more persons and agree to be bound by the arbitration decision. Most account agreements between broker-dealers and their customers have arbitration clauses. The arbitration...
Mergers are transactions involving the combination of generally two or more companies into a single entity. The need for shareholder approval of a merger is governed by state law. Typically, a merger must be approved by the holders of a majority of the outstanding shares of the target company. Approval of the acquiring company’s shareholders...
The term “microcap stock” (sometimes referred to as “penny stock”) applies to companies with low or micro market capitalizations. Companies with a market capitalization of less than $250 or $300 million are often called “microcap stocks” – although many have market capitalizations of far less than those amounts. The smallest public companies, with market capitalizations of...
“Mini-tender” offers are tender offers that, when consummated, will result in the person who makes the tender offer owning less than five percent of a company’s stock. The people behind these offers—also known as “bidders”—frequently use mini-tender offers to catch shareholders off guard. Most bidders won’t use the term “mini-tender offer” to describe their offer...
A money market fund is a type of mutual fund that has relatively low risks compared to other mutual funds and most other investments and historically has had lower returns. Money market funds invest in high quality, short-term debt securities and pay dividends that generally reflect short-term interest rates. Many investors use money market funds to store...
A market that provides trading in short-term debt.
Mortgage-backed securities (MBS) are debt obligations that represent claims to the cash flows from pools of mortgage loans, most commonly on residential property. Mortgage loans are purchased from banks, mortgage companies, and other originators and then assembled into pools by a governmental, quasi-governmental, or private entity. The entity then issues securities that represent claims on...
Some mutual funds offer investors different types of shares, known as “classes.” Each class invests in the same portfolio of securities and has the same investment objectives and policies. But each class has different shareholder services and/or distribution arrangements with different fees and expenses. Because of the different fees and expenses, each class will likely have...
As with any business, running a mutual fund involves costs. For example, there are costs incurred in connection with particular investor transactions, such as investor purchases, exchanges, and redemptions. There are also regular fund operating costs that are not necessarily associated with any particular investor transaction, such as investment advisory fees, marketing and distribution expenses, brokerage fees,...
Mutual funds must provide a copy of the fund’s prospectus to shareholders after they purchase shares, but investors can – and should – request and read the fund’s prospectus before making an investment decision. There are two kinds of prospectuses: (1) the statutory prospectus; and (2) the summary prospectus. The statutory prospectus is the traditional,...
A mutual fund company generally must pay redemption proceeds to a shareholder within seven days of receiving a redemption request from the shareholder. Exceptions apply on days when the New York Stock Exchange is closed, during certain emergencies, or when the SEC issues an order delaying redemptions to protect shareholders in the fund.
A mutual fund is an open-end investment company or fund. An open-end fund is one of three basic types of investment companies. The other two types of investment companies are closed-end funds and unit investment trusts (UITs). Exchange-traded funds (ETFs) are generally also structured as open-end funds, but can be structured as UITs as well. A mutual fund continuously pools money from many...
This year’s top-performing mutual funds aren’t necessarily going to be next year’s best performers. It’s not uncommon for a fund to have better-than-average performance one year and mediocre or below-average performance the following year. That’s why the SEC requires funds to tell investors that a fund’s past performance does not necessarily predict future results. You...
A “national securities exchange” is a securities exchange that has registered with the SEC under Section 6 of the Securities Exchange Act of 1934. For a complete list of national securities exchanges and recently approved exchange applications please check here.
Prior to July 1, 2009, a Nationally Recognized Municipal Securities Information Repository (NRMSIR) was an entity, designated by the Securities and Exchange Commission, to which an issuer of municipal securities or an obligated person that entered into a continuing disclosure agreement was contractually required to send annual financial information and disclosures of certain events relating...
“Net asset value,” or “NAV,” of an investment company is the company’s total assets minus its total liabilities. For example, if an investment company has securities and other assets worth $100 million and has liabilities of $10 million, the investment company’s NAV will be $90 million. Because an investment company’s assets and liabilities change daily, NAV will...
The profit earned by a company after all expenses and taxes have been deducted from revenue. A simple way to think about net income is it’s the price of a widget multiplied by the number of widgets sold (this result is revenue) minus the cost to make and sell the widgets, other expenses and any interest or...
An individual or entity who is not certain whether a particular product, service, or action would constitute a violation of the federal securities law may request a “no-action” letter from the SEC staff. Most no-action letters describe the request, analyze the particular facts and circumstances involved, discuss applicable laws and rules, and, if the staff...
A fund that does not charge any type of sales load. But not every type of shareholder fee is a “sales load,” and a no-load fund may charge fees that are not sales loads. No-load funds also charge operating expenses.
The disclosure document prepared by a bond issuer that gives detailed financial information about the issuer and the bond offering. Municipal securities issuers must prepare an “Official Statement” before presenting the primary offering. These municipal disclosure documents provide information for investors, including the terms of the bond and financial information on the issuer. They also...
An old stock or bond certificate may still be valuable even if it no longer trades under the name printed on the certificate. The company may have merged with another company or simply changed its name. Keep in mind that due to corporate reorganizations (such as splits, mergers, or reverse mergers), the current share price...
The legal name for a mutual fund. An open-end company is a type of investment company.
The costs a fund incurs in running the fund, including management fees, distribution fees, and other expenses.
Options are contracts giving the purchaser the right – but not the obligation — to buy or sell a security at a fixed price within a specific period of time. Stock options are traded on a number of exchanges.
The OTC Bulletin Board (OTCBB) (link is external) is an electronic quotation system that displays real-time quotes, last-sale prices, and volume information for many over-the-counter securities that are not listed on a national securities exchange. Brokers who subscribe to the system can use the OTCBB to look up prices or enter quotes for OTC securities. Under the...
Defined benefit plans also are known as pension plans. Employers sponsor defined benefit plans and promise the plan’s investments will provide you with a specified monthly benefit at retirement. The employer bears the investment risks.
“PIPE” stands for “private investment in public equity.” In a PIPE offering, investors commit to purchase a certain number of restricted shares from a company at a specified price. The company agrees, in turn, to file a resale registration statement so that the investors can resell the shares to the public. To the extent that they increase...
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. Ponzi schemes are named after Charles Ponzi. In the 1920s, Ponzi promised investors a 50% return within a few months for what he claimed was an investment in international mail coupons. Ponzi used funds from new investors to...
The combined holdings of stock, bond, commodity, real estate and other investments by an individual or institutional investor.
The amount by which the price of a bond exceeds its principal (par) amount.
A type of 529 plan that lets an account owner purchase units or credits at participating colleges or universities for future tuition for the account beneficiary.
The unscheduled partial or complete payment of the principal amount outstanding on a loan, such as a mortgage, before it is due.
The risk that principal repayment will occur earlier than scheduled, forcing the investor to reinvest at lower prevailing rates.
A company’s P/E ratio is a way of gauging whether the stock price is high or low compared to the past or to other companies. The ratio is calculated by dividing the current stock price by the current earnings per share. Earnings per share are calculated by dividing the earnings for the past 12 months...
Markets in which newly issued securities are sold to investors and the issuer receives the proceeds.
“Prime bank” investments are scams. Promoters of “prime bank” programs often claim that investors’ funds will be used to buy and trade supposed “prime bank” instruments, and that investors will receive guaranteed, high investment returns with little or no risk. Promoters try to make the schemes sound legitimate by using complex, sophisticated, and official-sounding terms....
The total amount of money being borrowed or lent; the initial amount of money invested.
A summary of key information about an ETF that explains how to obtain a prospectus.
Revenue minus cost; money made on a transaction.
Promissory notes are a form of debt that companies sometimes use to raise money. They typically involve investors loaning money to a company in exchange for a fixed amount of periodic income. Although promissory notes can be appropriate investments for many individuals, some fraudsters use promissory notes to defraud investors, especially the elderly.
A document that describes the mutual fund to prospective investors. Every mutual fund provides a prospectus with information about the mutual fund’s investment objectives, risks, past performance, and expenses. You can get a prospectus from the mutual fund company’s website or by mail. A broker or other financial professional also can provide you with a...
Proving securities ownership is easier if you can remember how the security was acquired. Brokerage Firm If you bought the security through a brokerage firm, contact the firm and ask if they have a record of your ownership. Brokerage firms are required to keep records for only six years. Copies of confirmations are only required...
A document sent to shareholders letting them know when and where a shareholders’ meeting is taking place and detailing the matters to be voted upon at the meeting. You can attend the meeting and vote in person or cast a proxy vote. Learn more.
A company is required to file its proxy statements with the SEC no later than the date proxy materials are first sent or given to shareholders. You can see this filing by using the SEC’s database, known as EDGAR. Enter the company’s name here and select the appropriate company to view its SEC filings. To view the most recent proxy...
A way for shareholders to vote for corporate directors and on other matters affecting the company without having to personally attend the meeting.
A company that offers its securities through an offering and now has those securities traded on the open market.
The Public Company Accounting Oversight Board (also known as the PCAOB) is a private-sector, nonprofit corporation created by the Sarbanes-Oxley Act of 2002 to oversee accounting professionals who provide independent audit reports for publicly traded companies. The PCAOB’s responsibilities include: registering public accounting firms; establishing audit, quality control, ethics, independence, and other standards relating to audits of...
How To Access Information Or Help If you have questions and inquiries relating to the SEC, to federal securities laws or investments, your inquiry should be submitted via this Questions and Feedback form. Click here for Fast Answers. Information about contacting the SEC can be found here. For any complaint relating to your investment or investment professional, you can...
In a pump and dump scheme, fraudsters typically spread false or misleading information to create a buying frenzy that will “pump” up the price of a stock and then “dump” shares of the stock by selling their own shares at the inflated price. Once the fraudsters dump their shares and stop hyping the stock, the...
A shareholder fee that some funds charge when investors buy mutual fund shares. This is not the same as, and may be in addition to, a front-end load.
The amount of goods and services that can be purchased by a given unit of currency, taking into account the effect of inflation.
A pyramid scheme is an investment fraud in which new participants’ fees are typically used to pay money to existing participants for recruiting new members. Pyramid scheme organizers may pitch the scheme as a business opportunity such as a multi-level marketing (MLM) program. Fraudsters frequently use social media, Internet advertising, company websites, group presentations, conference...
Includes tuition; room and board; mandatory fees; and, books, computers, and software (if required).
Each quarter, public companies file reports to the SEC containing unaudited financial statements and information about the company’s operations in the previous three months.
The federal securities laws do not define the term “quiet period.” However, that term is used to refer to the period of time surrounding the filing of a registration statement during which an issuer of securities must ensure that its offering-related communications comply with the federal securities laws. This period lasts, at a minimum, from...
Real estate investment trusts (“REITs”) allow individuals to invest in large-scale, income-producing real estate. A REIT is a company that owns and typically operates income-producing real estate or related assets. These may include office buildings, shopping malls, apartments, hotels, resorts, self-storage facilities, warehouses, and mortgages or loans. Unlike other real estate companies, a REIT does...
Real return is what is earned on an investment after accounting for taxes and inflation. Real returns are lower than nominal returns, which do not subtract taxes and inflation.
Rebalancing brings a portfolio back to its original asset allocation mix. This is necessary because over time, some investments will grow faster than others, and holdings may become out of alignment with investment goals.
Investors who are victims of securities law violations may be eligible to receive money recovered from fraudsters. Sometimes a successful SEC enforcement action results in recovered funds being distributed to victims. Processes that may help victims recover money include: fair funds and disgorgement funds; receiverships; brokerage account customer protections; corporate bankruptcy proceedings; and private class...
A shareholder fee that some funds charge when investors redeem (sell) mutual fund shares. Redemption fees, which must be paid to the fund, are not the same as and may be in addition to a back-end load, which is typically paid to a broker. The SEC generally limits redemption fees to 2% of the sales...
A registered owner or record holder holds stocks directly with the company, rather than in “street name.” Registration Statement — By law, public companies in the U.S. must disclose important financial information before they issue securities for sale to the public. This report, known as a registration statement, is filed with the SEC.
A registration statement is a filing with the SEC making required disclosures in connection with the registration of a security, a securities offering or an investment company under federal securities laws. Registration statements for securities offerings often include a prospectus, which is the disclosure document describing the offering, the securities and the company to prospective investors. Form S-1 is the registration...
The Securities Act of 1933 has two basic objectives: To require that investors receive financial and other significant information concerning securities being offered for public sale; and To prohibit deceit, misrepresentations, and other fraud in the sale of securities. The SEC accomplishes these goals primarily by requiring that companies disclose important financial information through the...
Under the federal securities laws, any offer or sale of a security must either be registered with the SEC or meet an exemption. Regulation A is an exemption from the registration requirements, allowing companies to offer and sell their securities without having to register the offering with the SEC. Companies relying on a Regulation A exemption can...
Crowdfunding refers to a financing method in which money is raised through soliciting relatively small individual investments or contributions from a large number of people. If a company would like to offer and sell securities through crowdfunding, they must comply with the federal securities laws. Under the federal securities laws, any offer or sale of...
Under the federal securities laws, any offer or sale of a security must either be registered with the SEC or meet an exemption. Regulation D under the Securities Act provides a number of exemptions from the registration requirements, allowing some companies to offer and sell their securities without having to register the offering with the SEC. For...
Form CRS is a client or customer relationship summary. Advisers and brokers are required to deliver a relationship summary to you beginning in summer 2020. The relationship summary contains important information about the adviser or broker. Choosing or continuing to work with a financial professional is an important decision. Advisers and brokers offer different types...
Restricted securities are securities acquired in an unregistered, private sale from the issuing company or from an affiliate of the issuer. They typically bear a “restrictive” legend clearly stating that you may not resell them in the public marketplace unless the sale is exempt from the SEC’s registration requirements. Rule 144 provides the most commonly used...
The total amount of money, or gross income, generated by a company from selling its goods and services. A simple way to think about revenue is it’s the price of a widget multiplied by the number of widgets sold.
A municipal bond not backed by the government’s taxing power but by revenues from a specific project or source, such as highway tolls or lease fees.
When a company completes a reverse stock split, each outstanding share of the company is converted into a fraction of a share. For example, if a company declares a one for ten reverse stock split, every ten shares that you own will be converted into a single share. If you owned 10,000 shares of the...
In finance, risk refers to the degree of uncertainty about the rate of return on an asset and the potential harm that could arise when financial returns are not what the investor expected. In general, as investment risks rise, investors seek higher returns to compensate them for taking on such risks.
An investor’s ability and willingness to lose some or all of an investment in exchange for greater potential returns.
The term “robo-adviser” generally refers to an automated digital investment advisory program. In most cases, the robo-adviser collects information regarding your financial goals, investment horizon, income and other assets, and risk tolerance by asking you to complete an online questionnaire. Based on that information, it creates and manages an investment portfolio for you. Robo-advisers often seek to offer...
An employer-sponsored Roth 401(k) plan is similar to a traditional plan with one major exception. Contributions by employees are not tax deferred but are made with after-tax dollars. Income earned on the account from interest, dividends, or capital gains, is tax-free.
Rule 504 of Regulation D provides an exemption from the registration requirements of the federal securities laws for some companies when they offer and sell up to $5,000,000 of their securities in any 12-month period. Except in limited circumstances, purchasers of securities offered pursuant to Rule 504 receive “restricted” securities, meaning that the securities cannot be sold for at...
Rule 506 of Regulation D provides two distinct exemptions from registration for companies when they offer and sell securities. Companies relying on the Rule 506 exemptions can raise an unlimited amount of money. Under Rule 506(b), a “safe harbor” under Section 4(a)(2) of the Securities Act, a company can be assured it is within the Section 4(a)(2) exemption...
Rulemaking is the process that federal agencies use to make rules. Some rulemaking implements laws passed by Congress and signed by the President. Other rulemaking updates rules under existing laws or creates new rules within an agency’s existing authority that the agency believes are needed. The process is designed to give members of the public...
The amount that investors pay when they buy (front-end load) or redeem (back-end load) shares in a mutual fund, similar to a commission. The SEC’s rules do not limit sales loads a fund may charge, but FINRA’s rules cap mutual fund sales loads at 8.5% of the purchase or sale, or at lower levels, depending...
“Saving and investing app” may refer to a variety of different mobile applications that use technology to help you save and invest. These apps are often marketed as an easy way to get started saving and investing. Users may be able to set goals and actions that help them save and invest—for example, rounding up...
Income that is not spent on consumption but is put aside.
If you own or are considering purchasing a U.S. savings bond, the U.S. Department of Treasury’s Bureau of the Fiscal Service has designed a useful tool for determining the present and future value–as well as historical information, current interest rate, next accrual date, final maturity date, and year-to-date interest earned. Known as the Savings Bond Calculator,...
Savings bonds are debt securities issued by the U.S. Department of the Treasury to help pay for the U.S. government’s borrowing needs. U.S. savings bonds are considered one of the safest investments because they are backed by the full faith and credit of the U.S. government. For more information on savings bonds, visit TreasuryDirect.gov.
Required by law, most public companies must periodically (at least every three years) provide their shareholders with an advisory vote on the compensation of the most highly compensated executives. Companies are required to disclose (usually in a proxy statement [hyperlink to defined term]) how their compensation policies and decisions have taken into account the results...
Schedules 13D and 13G are commonly referred to as a “beneficial ownership reports.” The term “beneficial owner” is defined under SEC rules. It includes any person who directly or indirectly shares voting power or investment power (the power to sell the security). When a person or group of persons acquires beneficial ownership of more than...
Markets where existing securities are bought and sold.
This part of the U.S. tax code allows you to exchange an existing variable annuity contract for a new annuity contract without paying tax on the income and investment gains in your current account. But you may have to pay surrender charges on your old annuity if you are still within the surrender period.
Federal securities laws may deem certain securities as restricted or control securities. Selling restricted or control securities in the marketplace can be a complicated process. Under federal securities laws, all offers and sales of securities must be registered with the SEC or qualify for some exemption from the registration requirements. If you have acquired restricted...
Analyst recommendations can have a significant effect on a company’s stock price, especially when the recommendations are widely disseminated through television appearances or other electronic and print media. The SEC receives a number of complaints about analysts who recommend buying a stock in a company from investors who believe the analyst has a financial stake...
If your brokerage firm goes out of business and is a member of the Securities Investor Protection Corporation (SIPC), then your cash and securities held by the brokerage firm may be protected up to $500,000, including a $250,000 limit for cash. When a SIPC member becomes insolvent, SIPC will ask a court to appoint a...
An investment instrument such as a stock or bond.
A bond that has a higher priority than another bond’s claim to the same class of assets in case of a default or bankruptcy. Settlement Date — The agreed date for the delivery of bonds and payment of funds.
Investors must complete or “settle” their security transactions within two business days. This settlement cycle is known as “T+2,” shorthand for “trade date plus two days.” T+2 means that when you buy a security, your payment must be received by your brokerage firm no later than two business days after the trade is executed. When...
Although investors sometimes ask the SEC for a list of a company’s shareholders, the SEC does not maintain shareholder lists. Under SEC rules, a company must provide shareholders with a process for contacting other shareholders in two limited situations. The first occurs during proxy solicitations – when shareholders solicit proxies in opposition to a company proposal or...
Fees paid to respond to inquiries from investors and provide them with information about their investments.
To increase the transparency surrounding short sale transactions, several self-regulatory organizations (SROs) are providing on their websites daily aggregate short selling volume information for individual equity securities. The SROs are also providing website disclosure on a one-month delayed basis of information regarding individual short sale transactions in all exchange-listed equity securities. For short sale data provided by...
A short sale occurs when you sell stock you do not own. Investors who sell short believe the price of the stock will fall. If the price drops, you can buy the stock at the lower price and make a profit. If the price of the stock rises and you buy it back later at...
The Social Security Administration has interactive tools to help you calculate what social security benefits you can expect to receive at retirement. Learn more
Most municipal securities offerings are exempt from the registration provisions of the federal securities laws. That means municipal issuers do not have to file a registration statement with the SEC. But you can still obtain information about municipal securities from the Municipal Securities Rulemaking Board (MSRB), through its Electronic Municipal Market Access (EMMA) website. EMMA provides free public...
In a “spin-off,” a parent company distributes shares of a subsidiary to the parent company’s shareholders so that the subsidiary becomes a separate, independent company. The shares are usually distributed on a pro rata basis. State law and the rules of the stock exchanges determine whether a company must seek shareholder approval for a spin-off....
An ETF designed to replicate the performance of the Standard & Poor’s 500 Index. Because of its acronym, the SPDR instrument is referred to as a “spider.”
In addition to state securities regulators, there are a number of state agencies that may be able to assist you with your problems and questions. For example, if you have concerns about viatical settlements, you may want to speak to your state insurance regulator. If you’ve purchased a certificate of deposit from a bank and have problems or questions...
While the SEC regulates and enforces the federal securities laws, each state has its own securities regulator who enforces what are known as “blue sky” laws. These laws cover many of the same activities the SEC regulates, such as the sale of securities and those who sell them, but are confined to securities sold or persons...
Conveys information about an open or closed-end fund that some investors find useful. Funds are not required to provide investors with the SAI, but they must provide it for free upon request. Also known as “Part B” of the fund’s registration statement.
An instrument that signifies an ownership position (called equity) in a corporation, and a claim on its proportional share in the corporation’s assets and profits. Most stocks also provide voting rights, which give shareholders a proportional vote in certain corporate decisions, such as the election of corporate directors.
“Stock fund” and “equity fund” describe a type of investment company (mutual fund, exchange-traded fund, closed-end fund, unit investment trust (UIT)) that invests primarily in stocks or “equities” (as contrasted with “bonds”). The types of stocks in which a stock fund will invest will depend upon the fund’s investment objectives, policies, and strategies. For example, one stock fund may invest in...
A general term for the organized trading of stocks through exchanges, over-the-counter, and computerized trading venues.
Listings of prices to buy and sell a specific stock. During trading, quotes show bids, the prices buyers are willing to pay, and offers, the prices sellers are willing to accept. Historical data provides the opening and closing price for each day of trading, and the daily high and low price for a stock, along...
An increase in the number of shares of a corporation’s stock without a change in the shareholders’ equity. Companies often split shares of their stock to make them more affordable to investors. Unlike issuing new shares, a stock split does not dilute the ownership interests of existing shareholders. For example, if you own 100 shares...
A stop order is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the stop price. When the specified price is reached, your stop order becomes a market order. The advantage of a stop order is you don’t have to monitor how a stock...
A type of sales charge that applies if you withdraw money from a variable annuity within a certain period of time, usually six to ten years. This is known as the surrender period. The charge declines over time until it no longer applies. For example, a 7% surrender charge might apply in the first year...
A diversified mutual fund that automatically shifts towards a more conservative mix of investments as it approaches a particular year in the future, known as its “target date.” A target date fund investor picks a fund with the right target date based on his or her particular investment goal. The managers of the fund then...
A tender offer is typically an active and widespread solicitation by a company or third party (often called the “bidder” or “offeror”) to purchase a substantial percentage of the company’s securities. Bidders may conduct tender offers to acquire equity (common stock) in a particular company or debt issued by the company. A tender offer where...
Each publicly traded common stock in the U.S. receives a short abbreviation that identifies it, known as its stock symbol or stock ticker symbol. Some stocks have single-letter ticker symbols while others may have up to five. Letters that appear after a ticker provide additional information. For instance, the letter “Q” after a ticker signifies...
Your time horizon is the number of months, years, or decades you need to invest to achieve your financial goal.
The total of a fund’s annual fund operating expenses, expressed as a percentage of the fund’s average net assets. You’ll find the total in the fund’s fee table in the prospectus.
All brokerage account transfers start and end with your new firm. Customers initiate the transfer process by completing a Transfer Instruction Form (TIF) and sending it to the new firm. Most account transfer delays occur because the TIF is either incorrect or incomplete. It is critical that you use the correct form and fill it...
Treasury securities—including Treasury bills, notes, and bonds—are debt obligations issued by the U.S. Department of the Treasury. Treasury securities are considered one of the safest investments because they are backed by the full faith and credit of the U.S. government. The income from Treasury securities may be exempt from state and local taxes, but not...
An institution, usually a bank, designated by the issuer as the custodian of funds and official representative of bondholders.
Ultra-short bond funds are mutual funds that generally invest in fixed income securities with extremely short maturities, or time periods in which they become due for payment. Like other bond funds, ultra-short bond funds may invest in a wide range of securities, including corporate debt, government securities, mortgage-backed securities and other asset-backed securities. Some investors don’t realize that there are material differences...
A unit investment trust UIT is one of three basic types of investment companies. The other two types are open-end funds (usually mutual funds) and closed-end funds. Exchange-traded funds (ETFs) are generally structured as open-end funds, but can also be structured as UITs. A UIT invests the money raised from many investors in its one-time public offering in a generally fixed portfolio...
A variable annuity is a contract between you and an insurance company, under which you make a lump-sum payment or series of payments. In return, the insurer agrees to make periodic payments to you beginning immediately or at some future date. You can choose to invest your purchase payments in a range of investment options,...
You may cancel your contract within a short period (usually lasting at least 10 days) of receiving it without a surrender charge. Upon cancellation, you will typically receive a refund of your purchase payments. The refund may be adjusted up or down to reflect the performance of your investment options. The length of the free...
A “surrender charge” is a type of sales charge you must pay if you sell or withdraw money from a variable annuity during the “surrender period” – a set period of time that typically lasts six to eight years after you purchase the annuity. Surrender charges will reduce the value and the return of your...
A variable life insurance policy is a contract between you and an insurance company. It is intended to meet certain insurance needs, investment goals, and tax planning objectives. It is a policy that pays a specified amount to your family or others (your beneficiaries) upon your death. It also has a cash value that varies...
These have changeable interest rates. Some variable-rate CDs feature a “multi-step” or “bonus rate” structure in which interest rates increase or decrease over time according to a pre-set schedule. Other variable-rate CDs pay interest rates that track the performance of a specified market index, such as the S&P 500 Index.
A viatical settlement allows you to invest in another person’s life insurance policy. With a viatical settlement, you purchase the policy (or part of it) at a price that is less than the death benefit of the policy. When the seller dies, you collect the death benefit. Your return depends upon the seller’s life expectancy...
A wash sale occurs when you sell or trade securities at a loss and within 30 days before or after the sale you: Buy substantially identical securities, Acquire substantially identical securities in a fully taxable trade, or Acquire a contract or option to buy substantially identical securities. Internal Revenue Service rules prohibit you from deducting...
A wrap account is an investment account where a “wrapped” fee or fees cover all of the management, brokerage and administrative expenses for the account. The fee or fees are generally based on the total market value of the investment account. Learn more
The annual percentage rate of return earned on a bond calculated by dividing the coupon interest rate by its purchase price.
A line graph that shows the relative yields on debt over a range of maturities from three months to 30 years. Investors, analysts and economists use yield curves to evaluate bond markets and interest rate expectations.
Zero coupon bonds are bonds that do not pay interest during the life of the bonds. Instead, investors buy zero coupon bonds at a deep discount from their face value, which is the amount the investor will receive when the bond “matures” or comes due. The maturity dates on zero coupon bonds are usually long-term—many...
The LEI is a reference code to uniquely identify a legally distinct entity that engages in a financial transaction. Currently, there are many ways to identify entities, but there is no unified global identification system for legal entities across markets and jurisdictions. The LEI will be a linchpin for financial data—the first global and unique...
The establishment of a global LEI system will be a significant achievement in responding to the vulnerabilities of the global financial system and will provide meaningful long-term benefits for both the public and private sectors. When Lehman Brothers collapsed in 2008, financial regulators and private sector managers were unable to assess quickly the extent of...
Private industry has made several attempts over the past 20 years to establish a global entity identification system. However, private sector firms and industry associations have been unable to achieve the level of coordination needed to launch a single global solution. The consistent and coordinated global commitment by members of the FSB and G-20 to...
A key element of the OFR’s mandate is to improve the quality and scope of financial data by assessing gaps in data standards and helping to fill them for the benefit of market participants, regulators, and research communities. Working to establish a global LEI system is an essential step in fulfilling that mandate. In November...
The LEI system is an alphanumeric code and associated set of six reference data items to uniquely identify a legally distinct entity that engages in financial market activities. This global standard is endorsed by the G-20 and is consistent with the specifications put forward by the International Organization for Standardization (ISO 17442:2012) in May 2012:...
Following G-20 endorsement of the FSB’s recommendations in June 2012, the FSB established the LEI Implementation Group (IG) to move the global LEI system toward the goal of having the system launched by March 2013. The IG is a time-limited and task-limited group of experts from the global regulatory community, focused on areas such as...
The G-20’s endorsement of the FSB’s recommendations to implement a global LEI, consistent with the specifications of the International Organization for Standardization (ISO 17442:2012), gives firms a standard against which to build and test technology and workflow processes in preparation for the global LEI. Firms can also participate in the preparatory work for the LEI...
The OFR is committed to promoting widespread adoption of the global LEI and we expect that many government agencies across the globe will require its use. The global phase-in of the LEI will be driven by the legislative and rule making processes of each jurisdiction requiring the use of the LEI and by the adoption...
As the global LEI becomes more widely used, we and many industry participants expect the LEI to decrease costs and improve risk management, at the firm level and across the system. These savings would come primarily from operational efficiencies, such as reducing the volume of transaction failures; lowering data reconciliation, cleaning, and aggregation costs; and...
Members of the public-private partnership that developed the FSB recommendations are acutely aware of the need for high-quality data. Thus, the LEI Implementation Group contains members with expertise in fields such as law, operations, and technology, to provide guidance on delivering an efficient and high-quality global LEI system. Also, private industry will provide valuable consultation...
By providing a universal, unique, authoritative identifier for each entity in financial transactions, a global LEI will provide a valuable risk management tool for aggregating data on exposures. However, while the LEI is critical on its own, it is not sufficient to provide a complete view on the aggregate exposures of any one entity to...
The FSB’s recommendations do not select a solution. Rather, they set out a governance structure and process for developing and implementing a global LEI system. The FSB is supporting an open process; all vendors adhering to guidance set up by the FSB will be considered. The COU and LOUs might use multiple solution providers or...
The FSB’s recommendations outline a “federated” model for LEI implementation. Local Operating Units (LOU) will assign LEIs, and validate and maintain reference data. The Central Operating Unit (COU) will ensure that LEIs are unique and of high quality and that parties that implement the LEI adhere to its governing principles and quality standards.
Participants in the LEI Implementation Group (IG) were selected through nominations from FSB members and other public sector stakeholders. For continuity purposes, the IG includes members who participated in the development of the FSB’s recommendations for the global LEI system.
The formation of the LEI Private Sector Preparatory Group (PSPG) drew upon the experience from the FSB LEI Industry Advisory Panel, the consultative group to the LEI Expert Group, and was opened to additional members from the financial services industry, as well as other industries. The LEI Implementation Group determined the process for selecting members.
The FSB’s recommendations for the LEI call for forming the Central Operating Unit (COU) as a not-for-profit foundation, or a body of equivalent legal form, overseen by a Board of Directors that operates under the oversight of the Regulatory Oversight Committee (ROC). The not-forprofit status will facilitate funding to develop and operate the LEI system...
The recommendations provide high-level guidance concerning membership on the Regulatory Oversight Committee (ROC). Regulatory authorities should indicate interest in serving as members, as well as their support for the LEI high-level principles and charter for the ROC. The LEI Implementation Group will develop the ROC charter, covering the details of member appointment. Membership in the...
You may search for a vessel by entering all or part of the vessel’s name. The system will search for vessel names beginning with the characters you entered. The vessel name search supports wildcard searches. The ‘%’ symbol represents a wildcard. It is possible for the system to find more than 1 vessel record. A...
You may search for a vessel by entering its Vessel Number. Vessel Numbers are 6 to 8 characters long and may contain all digits (1-9) or begin with 1 or 2 letters (A-Z) followed by 6 or 7 digits. The wildcard search option (%) is available in the Vessel Number field. The Vessel Number search...
You may search for a vessel by entering its Hull Identification Number. A Hull Number is a unique identifier for the vessel and consists of a string of letters (A-Z) and digits (0-9), up to 17 characters long.
You may search for a vessel by entering its Call Sign. Vessel Call Signs can be any combination of letters and numbers. The wildcard search option (%) is available in the Vessel Call Sign field.
You may search for a vessel by selecting the flag (ensign) the vessel flies. Most are based on the traditional state flag, but with notable stylistic modifications. Flags are very important at sea, where they can mean the difference between life and death, and consequently the rules and regulations for the flying of flags are...
You may search for a vessel by selecting the classification society (Contact Search Only). A classification society is a non-governmental organization in the shipping industry. It establishes and maintains standards for the construction and classification of ships and offshore structures, insures that construction is in accordance to these standards and carries out regular surveys of ships...
You may search for a vessel by selecting its service type. This includes a range from commercial to recreational, and all others in between. Using this option in conjunction with one or more of the previous search options will significantly reduce unwanted search results.
You may search for a vessel by entering the year it was built. Although you can search using only this option, we recommend you use it in conjunction with other search criteria to narrow your search results. Using this option on its own will almost always return the maximum allowed results (500).
You may search for a vessel by entering any known attributes. Simply enter as many fields as are known and the search will be restricted to vessels matching all of the criteria. For example, you can search for PASSENGER vessels registered in the FL whose names begin with SEA and built in the year 2001....
Wildcard characters are automatically added to all text based searches. However, if you wish to further refine your search you may use two wildcard characters. The underscore ‘_’ character replaces a single character. Example: J_pan searches for Japan, Jbpan, Jcpan and so on. The percent ‘%’ character can be used to replace any combination of...
“Out of Service” is related to vessel status. If a vessel is operating in any capacity (whether it has a Certificate of Inspection or not) it is considered ACTIVE and “In Service”. If the status of the vessel is anything other than ACTIVE, the vessel will be listed as “Out of Service”. The vessel statuses...
An attribute of an element to indicate that the element is only used in a hierarchy to group related elements together. An abstract element cannot be used to tag data in an instance document.
A property of an element such as its name, balance, data type, and whether the element is abstract. Attributes of XBRL US GAAP Taxonomy elements cannot be changed.
Citations to specific authoritative accounting literature (pronouncements, standards, rules, and regulations) derived from various authoritative sources (Securities and Exchange Commission, Financial Accounting Standards Board, American Institute of Certified Public Accountants, etc.) and used to help define an element.
An instance document contains facts; an axis differentiates facts and each axis represents a way that the facts may be classified. For example, Revenue for a period might be reported along a business unit axis, a country axis, a product axis, and so forth.
The dimensional relationship indicating that the table axis has a default domain member. In the XBRL US GAAP Taxonomies 1.0, the default is always the domain element.
The dimensional relationship indicating that the table axis has members drawn from a domain.
An attribute of a monetary item type designated as debit, credit, or neither; a designation, if any, should be the natural or most expected balance of the element – credit or debit – and thus indicates how calculation relationships involving the element may be assigned a weight attribute (-1 or +1).
Additive relationships between numeric items expressed as parent-child hierarchies.
XBRL technical term for element.
Entity and report-specific information (reporting period, segment information, and so forth) required by XBRL that allows tagged data to be understood in relation to other information.
Instance document fact attribute used to express the number of decimal places to which numbers have been rounded.
Technical term for dimensional relationships file.
XBRL technical term for axis.
An element that represents an entire set of other elements; the domain and its members are used to classify facts along the axis of a table. For example, “Arkansas” is a domain member in the domain “States,” and would be used to classify elements such as revenues and assets in Arkansas as distinct from other...
An element representing one of the possibilities within a domain.
Dimensional relationship indicating that a domain contains the member.
XBRL components (items, domain members, dimensions, and so forth). The representation of a financial reporting concept, including: line items in the face of the financial statements, important narrative disclosures, and rows and columns in tables.
A human-readable description of a reporting concept. From an XBRL technical point of view, the element definition is the label with the type “documentation,” and there are label relationships in a label relationships file, but from a user point of view the definition is an unchangeable attribute of the element.
A taxonomy that allows users to add to a published taxonomy in order to define new elements or change element relationships and attributes (presentation, calculation, labels, and so forth) without altering the original.
Financial statements without the notes or schedules
The occurrence in an instance document of a value or other information tagged by a taxonomy element.
Trees (presentation, calculation, and so forth) used to express and navigate relationships
XBRL technical term for a table.
A value that is not specifically provided but could be calculated based on other provided numbers and calculation weights.
XML file that contains business reporting information and represents a collection of financial facts and report-specific information using tags from one or more XBRL taxonomies
XBRL technical term for a kind of element.
Human-readable name for an element; each element has a standard label that corresponds to the element name, and is unique across the taxonomy.
A distinguishing name for each distinct element indicating the circumstances in which it should be used; each is given a separate defining role to use in different presentation situations.
Elements that conventionally appear on the vertical axis (rows) of a table.
XBRL technical term for a relationships file.
Process of determining the elements that correspond to lines and columns in a financial statement and which elements must be created by extension
Unique identifier of an element in a taxonomy.
Every element has a Universal Resource Identifier (URI) that identifies the organization that maintains the element definitions, with an indication of what the term covers. In the XBRL US GAAP Taxonomy, namespaces start with http://xbrl.us/us-gaap/. A namespace prefix is not the namespace
An attribute that appears on all taxonomy elements, and is used (false) on elements that, if used in an instance document, must have a non-empty value. XBRL taxonomy tools normally have the default value for nillable as “true.” There is no need for any extension to define an element with nillable “false.”
Relationship between elements that indicates subordination of one to the other as represented in a print listing or financial statement presentation. Relationships files use parent-child hierarchies to model several different relationships, including presentation, summation of a set of facts, and membership of concepts within a domain used as the axis of a table.
An attribute of an element that reflects whether it is reported as an instant or duration time period.
A shorthand sequence of letters for a namespace; “us-gaap,” for example, is a common prefix for the namespace http://xbrl.us/us-gaap/2008-01-31.
Relationships that arrange elements allowing them to navigate the taxonomy content in parent-child tree structures (hierarchies).
To process an instance document into a layout that facilitates readability and understanding of its contents.
A process that automatically scales numeric data by value, thus saving time of entering zeros during the entry or creation process. XBRL does not support the scaling of numeric values (all values must be reported in their entirety); however, it is a feature commonly found in instance document creation software
Tag that allows for additional information to be associated with facts in an instance document; this information encompasses in particular the reporting circumstances of the fact, as for example “actual or forecast.” The scenario of any fact can be left unspecified
Technical term for an element declaration file.
Tag that allows additional information to be included in the context of an instance document; this information captures segment information such as an entity’s business units, type of debt, type of other income, and so forth.
Denotes whether a numeric fact in an instance has a positive (+) or negative (-) value
The default label for an element. An extension may override the standard label.
An element that organizes a set of axes and a set of line items to indicate that each fact of one of the line items could be further characterized along one or more of its axes. For example, if a line item is Sales and an axis is Scenario, this means that an instance document...
Identifying information that describes a unit of data in an instance document and encloses it in angle brackets (<> and ). All facts in an instance document are enclosed by tags that identify the element of the fact.
To apply tags to an instance document.
Electronic dictionary of business reporting elements used to report business data. A taxonomy is composed of an element names file (.xsd) and relationships files directly referenced by that schema. The taxonomy schema files together with the relationships files define the concepts (elements) and relationships that form the basis of the taxonomy. The set of related...
Data types (monetary, string, share, decimal, and so forth) define the kind of data to be tagged with the element name.
Process of checking that instance documents and taxonomies correctly meet the rules of the XBRL specification.
Calculation relationship attribute (-1 or +1) that works in conjunction with the balance of the parent and child numeric elements to determine the arithmetic summation relationship
Process of checking that instance documents and taxonomies correctly meet the rules of the XBRL specification
Your advisory affiliates are (1) all of your officers, partners, or directors (or any person performing similar functions); (2) all persons directly or indirectly controlling or controlled by you; and (3) all of your current employees (other than employees performing only clerical, administrative, support or similar functions). If you are a “separately identifiable department or...
Within 90 days after your firm’s fiscal year end, your firm must file an “annual updating amendment,” which is an amendment to your firm’s Form ADV that reaffirms the eligibility information contained in Item 2 of Part 1A and updates the responses to any other item for which the information is no longer accurate. [Used...
Borrowings include secured borrowings and unsecured borrowings, collectively. Secured borrowings are obligations for borrowed money in respect of which the borrower has posted collateral or other credit support and should include any reverse repos (i.e., any sale of securities coupled with an agreement to repurchase the same (or similar) securities at a later date at...
A written disclosure statement that you must provide to clients and prospective clients. See SEC rule 204-3; Form ADV, Part 2A. [Used in: General Instructions; Used throughout Part 2]
A written disclosure statement containing information about certain of your supervised persons that your firm is required by Part 2B of Form ADV to provide to clients and prospective clients. See SEC rule 204-3; Form ADV, Part 2B. [Used in: General Instructions; Used throughout Part 2]
Being accused of a crime in a formal complaint, information, or indictment (or equivalent formal charge). [Used in: Part 1A, Item 11; DRPs]
Any of your firm’s investment advisory clients. This term includes clients from which your firm receives no compensation, such as family members of your supervised persons. If your firm also provides other services (e.g., accounting services), this term does not include clients that are not investment advisory clients. [Used throughout Form ADV and Form ADV-W]
Exposures to commodities that you do not hold physically, whether held synthetically or through derivatives (whether cash or physically settled). [Used in: Part 1A, Schedule D]
The power, directly or indirectly, to direct the management or policies of a person, whether through ownership of securities, by contract, or otherwise. Each of your firm’s officers, partners, or directors exercising executive responsibility (or persons having similar status or functions) is presumed to control your firm. A person is presumed to control a corporation...
Single name credit default swap, including loan credit default swap, credit default swap referencing a standardized basket of credit entities, including credit default swap indices and indices referencing leveraged loans, and credit default swap referencing bespoke basket or tranche of collateralized debt obligations and collateralized loan obligations (including cash flow and synthetic) other than mortgage...
Holding, directly or indirectly, client funds or securities, or having any authority to obtain possession of them. You have custody if a related person holds, directly or indirectly, client funds or securities, or has any authority to obtain possession of them, in connection with advisory services you provide to clients. Custody includes: Possession of client...
Your firm has discretionary authority or manages assets on a discretionary basis if it has the authority to decide which securities to purchase and sell for the client. Your firm also has discretionary authority if it has the authority to decide which investment advisers to retain on behalf of the client. [Used in: Part 1A,...
This term includes an independent contractor who performs advisory functions on your behalf. [Used in: Part 1A, Instructions, Items 1, 5, 11; Part 2B, Instructions]
This term includes being subject to a mandatory injunction, prohibitory injunction, preliminary injunction, or a temporary restraining order. [Used in: Part 1A, Item 11; DRPs]
Includes both listed equity derivative and derivative exposure to unlisted securities. Listed equity derivative includes all synthetic or derivative exposure to equities, including preferred equities, listed on a regulated exchange. Listed equity derivative also includes a single stock future, equity index future, dividend swap, total return swap (contract for difference), warrant and right. Derivative exposure...
An investment adviser that qualifies for the exemption from registration under section 203(l) of the Advisers Act because it is an adviser solely to one or more venture capital funds, or under rule 203(m)-1 of the Advisers Act because it is an adviser solely to private funds and has assets under management in the United...
For jurisdictions that do not differentiate between a felony and a misdemeanor, a felony is an offense punishable by a sentence of at least one year imprisonment and/or a fine of at least $1,000. The term also includes a general court martial. [Used in: Part 1A, Item 11; DRPs; Part 2A, Item 9; Part 2B,...
An investment adviser eligible to register with the SEC that files (and amends) a single umbrella registration on behalf of itself and each of its relying advisers. [Used in: General Instructions; Part 1A, Items 1, 2, 3, 10 and 11; Schedule R]
The Web Central Registration Depository (“CRD”) system operated by FINRA for the registration of broker-dealers and broker-dealer representatives. [Used in: General Instructions; Part 1A, Item 1, Schedules A, B, C, D, R, DRPs; Form ADV-W, Item 1]
Any derivative whose underlying asset is a currency other than U.S. dollars or is an exchange rate. Cross-currency interest rate swaps should be included in foreign exchange derivatives and excluded from interest rate derivatives. [Used in: Part 1A, Schedule D]
This term includes (1) a foreign securities authority; (2) another governmental body or foreign equivalent of a self-regulatory organization empowered by a foreign government to administer or enforce its laws relating to the regulation of investment-related activities; and (3) a foreign membership organization, a function of which is to regulate the participation of its members...
This term includes adverse final actions, including consent decrees in which the respondent has neither admitted nor denied the findings, but does not include agreements, deficiency letters, examination reports, memoranda of understanding, letters of caution, admonishments, and similar informal resolutions of matters. [Used in: Part 1A, Item 11; Part 1B, Item 2; Part 2A, Item...
Any state or political subdivision of a state, including (i) any agency, authority, or instrumentality of the state or political subdivision; (ii) a plan or pool of assets controlled by the state or political subdivision or any agency, authority, or instrumentality thereof; and (iii) any officer, agent, or employee of the state or political subdivision...
The gross nominal or notional value of all transactions that have been entered into but not yet settled as of the reporting date. For contracts with variable nominal or notional principal amounts, the basis for reporting is the nominal or notional principal amounts as of the reporting date. For options, use delta adjusted notional value....
An individual who is a qualified client or who is a “qualified purchaser” as defined in section 2(a)(51)(A) of the Investment Company Act of 1940. [Used in: Part 1A, Item 5]
If your firm is registered with a state securities authority, your firm’s “home state” is the state where it maintains its principal office and place of business. [Used in: Part 1B, Instructions]
Investment advisory services that do not purport to meet the objectives or needs of specific individuals or accounts. [Used in: Part 1A, Instructions; Part 2A, Instructions; Part 2B, Instructions]
A public accountant that meets the standards of independence described in rule 2-01(b) and (c) of Regulation S-X (17 CFR 210.2-01(b) and (c)). [Used in: Part 1A, Item 9; Schedule D]
Any derivative whose underlying asset is the obligation to pay or the right to receive a given amount of money accruing interest at a given rate. Crosscurrency interest rate swaps should be included in foreign exchange derivatives and excluded from interest rate derivatives. This information must be presented in terms of 10- year bond equivalents....
Any of your firm’s supervised persons (except those that provide only impersonal investment advice) is an investment adviser representative, if — the supervised person regularly solicits, meets with, or otherwise communicates with your firm’s clients the supervised person has more than five clients who are natural persons and not high net worth individuals, and more...
Activities that pertain to securities, commodities, banking, insurance, or real estate (including, but not limited to, acting as or being associated with an investment adviser, broker-dealer, municipal securities dealer, government securities broker or dealer, issuer, investment company, futures sponsor, bank, or savings association). [Used in: Part 6 1A, Items 7, 11, Schedule D, DRPs; Part...
Engaging in any act or omission, aiding, abetting, counseling, commanding, inducing, conspiring with or failing reasonably to supervise another in doing an act. [Used in: Part 1A, Item 11; Part 2A, Items 9 and 10; Part 2B, Items 3 and 7]
A “legal entity identifier” assigned by a utility endorsed by the Global LEI Regulatory Oversight Committee (ROC) or accredited by the Global LEI Foundation (GLEIF). [Used in: Part 1A, Item 1, Schedules D and R]
Anyone with the power to exercise, directly or indirectly, a controlling influence over your firm’s management or policies, or to determine the general investment advice given to the clients of your firm. Generally, all of the following are management persons: Your firm’s principal executive officers, such as your chief executive officer, chief financial officer, chief...
A managing agent of an investment adviser is any person, including a trustee, who directs or manages (or who participates in directing or managing) the affairs of any unincorporated organization or association that is not a partnership. [Used in: General Instructions; Form ADV-NR; Form ADV-W, Item 8]
A violation of a self-regulatory organization rule that has been designated as “minor” pursuant to a plan approved by the SEC. A rule violation may be designated as “minor” under a plan if the sanction imposed consists of a fine of $2,500 or less, and if the sanctioned person does not contest the fine. (Check...
For jurisdictions that do not differentiate between a felony and a misdemeanor, a misdemeanor is an offense punishable by a sentence of less than one year 7 imprisonment and/or a fine of less than $1,000. The term also includes a special court martial. [Used in: Part 1A, Item 11; DRPs; Part 2A, Item 9; Part...
(a) an individual who resides in any place not subject to the jurisdiction of the United States; (b) a corporation incorporated in or that has its principal office and place of business in any place not subject to the jurisdiction of the United States; and (c) a partnership or other unincorporated organization or association that...
SEC-registered advisers may have to provide state securities authorities with copies of documents that are filed with the SEC. These filings are referred to as “notice filings.” [Used in: General Instructions; Part 1A, Item 2; Execution Page(s); Form ADVW]
A written directive issued pursuant to statutory authority and procedures, including an order of denial, exemption, suspension, or revocation. Unless included in an order, this term does not include special stipulations, undertakings, or agreements relating to payments, limitations on activity or other restrictions. [Used in: Part 1A, Items 2 and 11, Schedules D and R;...
Any derivative that is not a commodity derivative, credit derivative, equity derivative, foreign exchange derivative or interest rate derivative. [Used in: Part 1A, Schedule D]
With respect to any registered investment company or series thereof or business development company, a parallel managed account is any managed account or other pool of assets that you advise and that pursues substantially the same investment objective and strategy and invests side by side in substantially the same positions as the identified investment company...
An investment advisory fee based on a share of capital gains on, or capital appreciation of, client assets. A fee that is based upon a percentage of assets that you manage is not a performance-based fee. [Used in: Part 1A, Item 5; Part 2A, Items 6 and 19]
A natural person (an individual) or a company. A company includes any partnership, corporation, trust, limited liability company (“LLC”), limited liability partnership (“LLP”), sole proprietorship, or other organization. [Used throughout Form ADV and Form ADV-W]
Your firm’s executive office from which your firm’s officers, partners, or managers direct, control, and coordinate the activities of your firm. [Used in: Part 1A, Instructions, Items 1 and 2; Schedules D and R; Form ADV-W, Item 1]
An issuer that would be an investment company as defined in section 3 of the Investment Company Act of 1940 but for section 3(c)(1) or 3(c)(7) of that Act. [Used in: General Instructions; Part 1A, Instructions, Items 2, 5, 7, and 9; Part 1A, Schedule D]
This term includes a formal administrative or civil action initiated by a governmental agency, self-regulatory organization or foreign financial regulatory authority; a felony criminal indictment or information (or equivalent formal charge); or a misdemeanor criminal information (or equivalent formal charge). This term does not include other civil litigation, investigations, or arrests or similar charges effected...
A client that satisfies the definition of qualified client in SEC rule 205-3. [Used in: General Instructions; Part 1A, Schedule D]
Any advisory affiliate and any person that is under common control with your firm. [Used in: Part 1A, Items 7, 8 and 9; Schedule D; Form ADV-W, Item 3; Part 2A, Items 10, 11, 12 and 14; Part 2A, Appendix 1, Item 6]
An investment adviser eligible to register with the SEC that relies on a filing adviser to file (and amend) a single umbrella registration on its behalf. [Used in: General Instructions; Part 1A, Items 1, 7 and 11; Schedules D and R]
Any national securities or commodities exchange, registered securities association, or registered clearing agency. For example, the Chicago Board of Trade (“CBOT”), FINRA and New York Stock Exchange (“NYSE”) are selfregulatory organizations. [Used in: Part 1A, Item 11; DRPs; Part 1B, Item 2; Part 2A, Items 9 and 19; Part 2B, Items 3 and 7]
Any notes, bonds and debentures issued by a national government (including central government, other governments and central banks but excluding U.S. state and local governments), whether denominated in a local or foreign currency. [Used in: Part 1A, Schedule D]
A sponsor of a wrap fee program sponsors, organizes, or administers the program or selects, or provides advice to clients regarding the selection of, other investment advisers in the program. [Used in: Part 1A, Item 5, Schedule D; Part 2A, Instructions, Appendix 1 Instructions]
The securities commissioner or commission (or any agency, office or officer performing like functions) of any state of the United States, the District of Columbia, Puerto Rico, the Virgin Islands, or any other possession of the United States. [Used throughout Form ADV]
Any of your officers, partners, directors (or other persons occupying a similar status or performing similar functions), or employees, or any other person who provides investment advice on your behalf and is subject to your supervision or control. [Used throughout Part 2]
A single registration by a filing adviser and one or more relying advisers who collectively conduct a single advisory business and that meet the conditions set forth in General Instruction 5. [Used in: General Instructions; Part 1A, Items 1, 2, 3, 7, 10 and 11, Schedules D and R]
This term has the same meaning as in rule 203(m)-1 under the Advisers Act, which includes any natural person that is resident in the United States. [Used in: Part 1A, Instructions, Item 5; Schedule D]
The written disclosure statement that sponsors of wrap fee programs must provide to each of their wrap fee program clients. [Used in: Part 2, General Instructions; Used throughout Part 2A, Appendix 1]
Any advisory program under which a specified fee or fees not based directly upon transactions in a client’s account is charged for investment advisory services (which may include portfolio management or advice concerning the selection of other investment advisers) and the execution of client transactions. [Used in: Part 1, Item 5; Schedule D; Part 2A,...
This item requires disclosure of certain material agreements not made in the ordinary course of business, or material amendments to those agreements. For example, if a company takes out a five-year loan with a bank or signs a long-term lease, and the loan or lease is material to the company, the agreement must be reported...
Under this item, a company generally must disclose the termination of a material agreement. If the agreement simply expires according to its terms, that termination would not need to be reported on Form 8-K. For example, if a widget company made most of its sales under a long-term supply agreement with one significant customer, and...
If a company becomes the subject of a bankruptcy or receivership court filing, that must be disclosed. Future 8-Ks may outline the company’s plan for reorganization (under Chapter 11) or liquidation (under Chapter 7) and the court’s confirmation of the plan. Investors should look at the reorganization plan for information about whether the company’s common...
If a company acquires or disposes of a significant amount of assets, the company must file an 8-K to describe the terms of the transaction. Examples include buying or merging with another company, or selling a business unit. A company that is no longer a “shell company” as a result of a merger would also...
Many companies announce their quarterly and annual results simultaneously in a press release and an 8-K (which includes the press release as an exhibit). The documents often include an announcement that the company will hold a conference call (sometimes called an analyst or earnings call) shortly after the release to discuss the results. The financial...
The basic terms of material financial obligations that the company takes on must be reported. These financial obligations include any long-term debt, capital or operating lease, and short-term debt outside the ordinary course of business. This item also requires disclosure of material financial obligations, whether direct or contingent, that arise out of off-balance sheet arrangements.
Defaults on loans or other events that trigger the acceleration or increase of a financial obligation must be disclosed in an 8-K if the consequences of the event are material to the company. For example, if a company defaults on a loan, its creditors typically have the right to demand immediate payment of the entire...
This item requires disclosure of restructuring plans under which the company will incur material charges. For example, the 8-K may report the company’s decision to close some of its plants or stores or to lay off workers. The company also must disclose its estimates of the costs involved, once it is able to determine them....
A company must disclose certain material write downs (also called impairments) in an 8-K. (If the company determines the impairment when routinely preparing its financial statements for its periodic report, the company may make the disclosure in the periodic report rather than in an 8-K.) A write down may occur when a company significantly lowers...
If a stock exchange notifies a company that it no longer satisfies the requirements for continued listing, this must be disclosed. For example, the stock may have been trading below the minimum price requirement for a certain period of time. The company may have a grace period to return to compliance, and will have to...
Private sales of securities exceeding 1 percent of a company’s outstanding shares of that class (or 5 percent for smaller reporting companies) would be reported under this item. Public offerings registered with the SEC need not be disclosed under this item. Investors can use the information provided under this item to determine the amount of...
Under this item, companies must disclose material changes to instruments that define the rights of shareholders (such as a company’s governing documents) or material limitations on the rights of security holders that result from the issuance or modification of another class of securities. Examples of such changes could include loan terms restricting dividend payments, the...
Companies must disclose if they dismiss their independent auditor, if the auditor resigns or declines to stand for re-appointment, and if the company hires a new auditor. A change of auditors is sometimes, but not always, a cause for concern. It depends on the reasons for the change. The following circumstances are widely seen as...
This item requires disclosure if the company believes that previously issued financial statements should not be relied upon because of an error in the statements. Disclosure is also required if the auditor believes that its previously issued audit reports or interim reviews on financial statements should not be relied upon. In both cases, the company...
If there is a change of control of the company, the company must identify the persons who have acquired control and the percentage of voting securities that they beneficially own, as well as any arrangements between the old and new control groups regarding the election of directors or other matters.
If a board member resigns or refuses to stand for reelection because of a disagreement with the company relating to the company’s operations, policies or practices, or a director is removed for cause from the board, the company must briefly describe the circumstances of the disagreement. If the director provides a letter regarding her resignation,...
This item generally requires disclosure if a company amends its articles of incorporation or bylaws, or changes its fiscal year, unless the company already disclosed the proposed amendment or fiscal year change in a proxy statement or information statement. Companies that issue only debt securities are typically not required to comply with this item.
Companies must generally report changes to their code of ethics that apply to the chief executive officer, chief financial officer, chief accounting officer or controller, or others performing similar functions. The company also must disclose any waivers granted to any of these persons. Many investors consider ethics waivers to be a red flag. Please note...
Within four business days of the end of an annual or special meeting, companies must file the results of shareholder votes in director elections and on all other matters put to a vote. If the company is only able to report preliminary results at that time, it must file an amended 8-K to report the...
The purpose of Regulation FD—for “fair disclosure”—is to prevent companies from selectively disclosing material, non-public information. Regulation FD is intended to level the playing field: companies generally must give material information to the public at the same time they provide it to others, such as securities market professionals. Companies may submit an 8-K under this...
This is the place where companies may report anything that they believe is important but is not specifically required elsewhere in the 8-K.
Under this item, a company must file certain financial statements and list the exhibits that it has filed as part of the 8-K. For example, if a company discloses in Item 2.01 that it has acquired a business, Item 9.01 would require the company to provide the financial statements of the business acquired in the...
During World War II, it was common to find different names applied to a single item of supply used by each military service. That made it difficult for the military services to locate supplies and, in most cases, impossible to share items of supply. This resulted in an item depletion situation for one service and...
Everyone recognizes this number system, (269) 961-7766. It is, of course, a telephone number. The three distinct parts of a phone number are easily identifiable. The first part is the area code, the second part is the exchange, and the third part is a unique four-digit number. (269) 961-7766 Just as each part of a...
Manufacturers and suppliers do not have the authority to request a NSN. This is usually accomplished once a requirement/need for that manufacturer’s/supplier’s item has been identified by a military service, NATO country, federal/civil agency or various Contractor Support Weapons Systems (CSWS) managed by a contractor. Requests are then forwarded thru the appropriate supply chain for...
The NSN is used by domestic and foreign governments, all the military services and various federal and civil agencies. The NSN is officially recognized by the United States government, the North Atlantic Treaty Organization (NATO), and many other governments around the world. The NSN affords the opportunity for greater cross-servicing potential and facilitates operations that...
reduces downtime by enabling procurement personnel to quickly identify, locate, and order parts or supplies accounts for existing inventory identifies shelf life of an item of supply maximizes use of available spares by identifying items of supply that are interchangeable or substitutable provides pricing information, which is valuable when negotiating contracts and managing military budgets...
The National Provider Identifier (NPI) is a Health Insurance portability and Accountability Act (HIPAA) Administrative Standard. An NPI is a unique identification number for covered health care providers, created to improve the efficiency and effectiveness of electronic transmission of health information. Covered health care providers and all health plans and health care clearinghouses must use...
What Is an NPI? An NPI is a 10-digit numeric identifier. It does not carry information about you, such as the State where you practice, your provider type, or your specialization. Your NPI will not change, even if your name, address, taxonomy, or other information changes. In HIPAA standard transactions, the NPI must be used...
Who May Obtain an NPI? All health care providers (that is, physicians, suppliers, hospitals, and others) may obtain an NPI. Health care providers are individuals or organizations that render health care as defined in 45 Code of Federal Regulations (CFR) 160.103. For more information, refer to 45 CFR 160.103 on the Government Printing Office (GPO)...
What Are the Health Care Provider NPI Categories? There are two categories of health care providers for NPI enumeration purposes: Entity Type 1 (Individual) and Entity Type 2 (Organization). Entity Type 1: Individual Health Care Providers, Including Sole Proprietors Individual health care providers may receive NPIs as Entity Type 1. As a sole proprietor, you...
How Do You Apply for an NPI? Health care providers may apply for an NPI in one of three ways: Option 1: Apply through a web-based application process. Visit theNational Plan and Provider Enumeration System (NPPES) at https://nppes.cms.hhs.gov/NPPES/Welcome.do on the CMS website. Individual providers must create a username and password through the Identity & Access...
Prescribers Be Aware: The NPI is here. The NPI is now. Do you have one? Are you using it? Recently, CMS published a final rule that requires prescribers who are not covered entities themselves to obtain an individual (Entity Type 1) National Provider Identifier (NPI) and disclose it when needed for a pharmacy claim. This...
This Glossary provides brief definitions for certain terms as they apply to registration, recordation, and other services provided by the U.S. Copyright Office. Definitions that are taken directly from the Copyright Act or the Office’s regulations are enclosed in quotation marks. Definitions that are not enclosed in quotation marks are not legal definitions; they are...
An Act to Amend and Consolidate the Acts Respecting Copyright, Pub. L. No. 60-349, 35 Stat. 1075 (1909). This law as amended was the copyright law of the United States from July 1, 1909 through December 31, 1977. It was repealed effective January 1, 1978 and replaced with the 1976 Copyright Act.
Public Law No. 94-553, 90 Stat. 2541 (1976). Passed by Congress and effective on January 1, 1978, this law as amended is the current Copyright Law of the United States. It is codified in Title 17 of the U.S. Code.
A shortened or condensed version of a preexisting work that retains the general sense and unity of the preexisting work.
A statement that the U.S. Copyright Office adds to the registration record to clarify the facts underlying the claim or to identify legal limitations on the claim. To “annotate” means to add an annotation to the record.
“An ‘anonymous work’ is a work on the copies or phonorecords of which no natural person is identified as author.” 17 U.S.C. § 101.
The party who submits an application to the U.S. Copyright Office.
“An ‘architectural work’ is the design of a building as embodied in any tangible medium of expression, including a building, architectural plans, or drawings. The work includes the overall form as well as the arrangement and composition of spaces and elements in the design, but does not include individual standard features.” 17 U.S.C. § 101....
“‘Audiovisual works’ are works that consist of a series of related images which are intrinsically intended to be shown by the use of machines or devices such as projectors, viewers, or electronic equipment, together with accompanying sounds, if any, regardless of the nature of the material objects, such as films or tapes, in which the...
Any person entitled to act on behalf of an author, a copyright claimant, or an owner of one or more of the exclusive rights.
The portion of the online application that identifies the copyrightable material created by the author named in the application. In the paper application, this portion of the application is referred to as the “Nature of Authorship” space.
The portion of the application that describes the copyrightable material created by the author named in the application. In the online application, this portion of this statement typically appears in the Author Created field and/or New Material Included field. In the paper application it typically appears in the Nature of Authorship space and/or the Material...
A registration issued on or after January 1, 1978.
An international treaty, the “Convention for the Protection of Literary and Artistic Works,” to protect literary and artistic works signed at Berne, Switzerland, on September 9, 1886, and all acts, protocols, and revisions thereto. The United States acceded to the Berne Convention and became a member on March 1, 1989.
“The ‘best edition’ of a work is the edition, published in the United States at any time before the date of deposit, that the Library of Congress determines to be most suitable for its purposes.” 17 U.S.C. § 101.
An abbreviation for the U.S. Copyright Office’s “Copyright Acquisitions Division.”
An official record issued by the U.S. Copyright Office that bears the U.S. Copyright Office seal and the signature of the Register of Copyrights. The certificate denotes the fact that the Office has received a valid claim to copyright (i.e., an acceptable application, deposit, and filing fee) and that the claim has been registered by...
1) The act of signing an application to register a work with the U.S. Copyright Office. The individual who signs the application certifies that the information provided therein is correct to the best of his or her knowledge. 2) The preparation of a statement under the seal of the U.S. Copyright Office attesting to the...
The term “choreography” is derived from the Greek words “choreia,” meaning “dance,” and “graphikos,” meaning “to write.” A dance is a static and kinetic succession of bodily movements in certain rhythmic and spatial relationships and in relation to time and space. Choreography is the composition and arrangement of a related series of dance movements and...
An assertion of ownership of the copyright in a work of authorship. A request to register a work of authorship with the U.S. Copyright Office.
For purposes of copyright registration, the claimant is either the author of the work that has been submitted for registration, or a person or organization that owns all of the rights under copyright that initially belonged to the author of that work.
“A ‘collective work’ is a work, such as a periodical issue, anthology, or encyclopedia, in which a number of contributions, constituting separate and independent works in themselves, are assembled into a collective whole.” 17 U.S.C. § 101. A collective work is a form of compilation.
“A ‘compilation’ is a work formed by the collection and assembling of preexisting materials or of data that are selected, coordinated, or arranged in such a way that the resulting work as a whole constitutes an original work of authorship. The term ‘compilation’ includes collective works.” 17 U.S.C. § 101.
A programmable electronic device that can store, retrieve, and process data that is input by a user through a user interface, and is capable of providing output through a display screen or other external output device, such as a printer. “Computers” include mainframes, desktops, laptops, tablets, and smart phones.
“A ‘computer program’ is a set of statements or instructions to be used directly or indirectly in a computer in order to bring about a certain result.” 17 U.S.C. § 101.
“‘Copies’ are material objects, other than phonorecords, in which a work is fixed by any method now known or later developed, and from which the work can be perceived, reproduced, or otherwise communicated, either directly or with the aid of a machine or device. The term ‘copies’ includes the material object, other than a phonorecord,...
A physical archive located at the U.S. Copyright Office that may be used to search for completed registrations and recorded documents made before January 1, 1978.
A statement placed on copies or phonorecords of a work to inform the public that a copyright owner is claiming ownership of the particular work. A copyright notice consists of three elements: The copyright symbol © (or for phonorecords, the symbol Ⓟ), the word “Copyright”, or the abbreviation “Copr.”; The year of first publication of...
A term used to describe a work that is original and sufficiently creative to be registered with the U.S. Copyright Office.
“A work is ‘created’ when it is fixed in a copy or phonorecord for the first time; where a work is prepared over a period of time, the portion of it that has been fixed at any particular time constitutes the work as of that time, and where the work has been prepared in different...
For purposes of copyright registration, a database is defined as a compilation of digital information comprised of data, information, abstracts, images, maps, music, sound recordings, video, other digitized material, or references to a particular subject or subjects. In all cases, the content of a database must be arranged in a systematic manner and it must...
1) For the recordation of transfers of copyright ownership and other documents pertaining to copyright under Section 205 of Title 17 of the United States Code, “the date of recordation is the date when a proper document under [37 C.F.R. § 201.4(c)] and a proper fee under paragraph (d) of this section [37 C.F.R. §...
A legal term that is based on the Latin phrase “de minimis non curat lex,” which means “the law does not take notice of very small or trifling matters.” Creative authorship is deemed “de minimis” when a work does not contain the minimal degree of original, creative expression required to satisfy the test for originality...
A standing account with the U.S. Copyright Office from which customers can draw funds to pay for services provided by the Office.
A physical or electronic embodiment of a work. A deposit copy may be on or in various media (e.g., paper, videotape, online digital code, etc.) and may consist of multiple components. A deposit copy is submitted with an application for registration and must conform to the U.S. Copyright Office’s regulations and other requirements. For copyright...
“A ‘derivative work’ is a work based upon one or more preexisting works, such as a translation, musical arrangement, dramatization, fictionalization, motion picture version, sound recording, art reproduction, abridgment, condensation, or any other form in which a work may be recast, transformed, or adapted. A work consisting of editorial revisions, annotations, elaborations, or other modifications,...
“To ‘display’ a work means to show a copy of it, either directly or by means of a film, slide, television image, or any other device or process or, in the case of a motion picture or other audiovisual work, to show individual images nonsequentially.” 17 U.S.C. § 101.
“A document shall be considered to ‘pertain to a copyright’ if it has a direct or indirect relationship to the existence, scope, duration, or identification of a copyright, or to the ownership, division, allocation, licensing, transfer, or exercise of rights under a copyright. That relationship may be past, present, future, or potential.” 37 C.F.R. §...
An abbreviation for “effective date of registration.”
“The effective date of a copyright registration is the day on which an application, deposit, and fee, which are later determined by the Register of Copyrights or by a court of competent jurisdiction to be acceptable for registration, have all been received in the Copyright Office.” 17 U.S.C. § 410(d). The effective date of registration...
“The term ‘eligible country’ means a nation, other than the United States, that— Becomes a WTO member country after the date of the enactment of the Uruguay RoundAgreements Act; On such date of enactment is, or after such date of enactment becomes, a nation adheringto the Berne Convention; Adheres to the WIPO Copyright Treaty; Adheres...
An exclusive license is “a license that gives the licensee the sole right to perform the licensed act, often in a defined territory, and that prohibits the licensor from performing the licensed act and from granting the right to anyone else; [especially], such a license of a copyright, patent, or trademark right.” Black’s Law Dictionary...
Any or all of the exclusive rights under Copyright Law, as set forth in Section 106 of the Copyright Act. Section 106 of the Copyright Act defines the exclusive rights of copyright owners in their works. Only the copyright owner has the right to do and to authorize the following: “To reproduce the copyrighted work...
A nonrefundable charge for processing a registration or document recordation request.
“A work is ‘fixed’ in a tangible medium of expression when its embodiment in a copy or phonorecord, by or under the authority of the author, is sufficiently permanent or stable to permit it to be perceived, reproduced, or otherwise communicated for a period of more than transitory duration. A work consisting of sounds, images,...
A work that is not a United States work.
A printed document designed and issued by the U.S. Copyright Office for use in applying for registration and requesting certain other copyright services.
A paper application used to submit an application for a supplementary registration for certain types of works. Specifically, Form CA may be used to correct or amplify the information in the following types of registrations: (i) a renewal registration, (ii) a GATT registration for a foreign work restored to copyright protection by the Uruguay Round...
Previously used to file claims to copyright, the fill-in Form CO had to be completed on a computer, printed, and mailed to the Office with the proper fee and deposit and a handwritten signature.
A continuation sheet used only in conjunction with Form CA, Form PA, Form SE, Form SR, Form TX, or Form VA.
An optional but recommended form used to facilitate the recordation of a transfer of copyright ownership or other document pertaining to copyright. This form should only be used when recording certain documents; it should not be used in connection with registration.
A paper application used to register a group of daily newspapers or daily newsletters.
A paper application used to register a restored copyright under the 1994 Uruguay Round Agreements Act.
A continuation sheet used only in conjunction with Form GATT or Form GATT/GRP.
An optional continuation sheet used in conjunction with Form VA for registering a group of published photographs.
A paper application used to register a mask work fixed in a semiconductor chip product under the Semiconductor Chip Protection Act of 1984.
A continuation sheet used only in conjunction with Form MW.
A paper application used to register certain types of works of the performing arts, namely musical works, dramatic works, pantomimes, choreographic works, motion pictures, and other audiovisual works.
A paper application used to register a single issue of a published or unpublished serial.
A paper application used to register a group of related serials.
A paper application used to register works that contain sound recording authorship. An applicant should use Form SR if the work contains sound recording authorship and if the applicant intends to register that element of the work (even if the work also contains other types of authorship, such as music or lyrics). If the applicant...
A paper application used to register a nondramatic literary work, such as fiction, nonfiction, poetry, an individual article, a textbook, a reference work, a directory, a catalog, advertising copy, a compilation of information, a computer program, a textual work made available online, or a database.
A paper application used to register architectural works and pictorial, graphic, or sculptural works, including two-dimensional or three-dimensional works of fine, graphic, and applied art, photographs, prints or art reproductions, maps, and technical drawings.
An abbreviation for “General Agreement on Tariffs and Trade.”
An agreement which, in part restores copyright protection for certain foreign works that have lost copyright in the United States. The loss of copyright would have occurred for one of the following reasons: Failure to comply with certain “formalities” of United States law. These formalities include: i. publication without notice prior to March 1, 1989....
Registrations that cover copyright claims in a work in which U.S. copyright was restored under the 1994 Uruguay Round Agreements Act.
An option for registering a group of works with one application, one filing fee, and one set of deposit copies. The U.S. Copyright Office currently offers group registration options for the following classes of works: Serials. Daily newspapers. Daily newsletters. Contributions to periodicals. Published photographs. A group of updates or revisions to a database.
An abbreviation for “identifying material.”
An alternative deposit copy permitted or required under U.S. Copyright Office regulations for registration, such as photographs submitted in lieu of three-dimensional works of visual arts; redacted versions of secure tests; portions of computer source code, etc. Identifying material is material that adequately represents the authorship claimed in an unpublished or published work, whether the...
Infringement occurs when someone other than the copyright owner exercises the exclusive right of the copyright owner unlawfully. Certain limitations to the owner’s rights are defined in Sections 107 through 122 of the Copyright Act.
An abbreviation for “International Standard Book Number.”
A unique identifier assigned to a monographic publication by designated agencies in each country participating in the program. The U.S. Copyright Office does not assign these numbers to published works. In the United States, ISBNs are administered by R.R. Bowker LLC (www.bowker.com).
An abbreviation for “International Standard Recording Code.”
A unique identifier assigned to a sound recording by designated agencies in each country participating in the program. The U.S. Copyright Office does not assign these numbers to published works. In the United States, ISRCs are administered by the Recording Industry Association of America (www.usisrc.org).
An abbreviation for “International Standard Serial Number.”
A unique identifier assigned to a serial publication by national centers under the auspices of the ISSN network. The U.S. Copyright Office does not assign these numbers to published works. In the United States, ISSNs are administered by the Library of Congress (www.loc.gov/issn).
“A ‘joint work’ is a work prepared by two or more authors with the intention that their contributions be merged into inseparable or interdependent parts of a unitary whole.” 17 U.S.C. § 101.
An agreement by which a party grants another party one or more rights (but fewer than all rights), usually limited to a particular territory and/or time period. A license may be granted as an exclusive license or a nonexclusive license.
The Licensing Division in the U.S. Copyright Office administers certain statutory licenses set forth in the Copyright Act. The Division collects royalty payments and examines statements of account for the cable statutory license (17 U.S.C. § 111), the satellite statutory license for retransmission of distant television broadcast stations (17 U.S.C. § 119), and the statutory...
The portion of the application that identifies copyrightable material that has been excluded from the claim. It is typically used to exclude previously published material, previously registered material, public domain material, and/or material that is not owned by the claimant named in the application. In the online application, this portion of the application includes the...
An abbreviation for the “Literary Division” of the U.S. Copyright Office.
“‘Literary works’ are works, other than audiovisual works, expressed in words, numbers, or other verbal or numerical symbols or indicia, regardless of the nature of the material objects, such as books, periodicals, manuscripts, phonorecords, film, tapes, disks, or cards, in which they are embodied.” 17 U.S.C. § 101. A literary work is a nondramatic work...
A deposit copy sent to the U.S. Copyright Office pursuant to Section 407 of the Copyright Act. Section 407 provides that the owner of copyright or the owner of the exclusive right of publication in a work published in the United States shall deposit two copies or phonorecords of the best edition of the work...
Section 601 of the 1976 Copyright Act, which was repealed by the Copyright Cleanup, Clarification, and Corrections Act of 2010. Prior to 1986, United States authors who claimed copyright in magazines, newspapers, and books published and printed in the English language were required to indicate that the work was manufactured in the United States or...
“A ‘mask work’ is a series of related images, however fixed or encoded — (A) having or representing the predetermined, three-dimensional pattern of metallic, insulating, or semiconductor material present or removed from the layers of a semiconductor chip product; and (B) in which series the relation of the images to one another is that each...
“‘Motion pictures’ are audiovisual works consisting of a series of related images which, when shown in succession, impart an impression of motion, together with accompanying sounds, if any.” 17 U.S.C. § 101. The definition of “motion pictures” does not include the following: Unauthorized fixations of live performances or telecasts. Live telecasts that are not fixed...
The portion of a paper application that identifies the copyrightable material created by the author named in the application. In the online application, this portion of the application is referred to as the “Author Created” field.
A nonexclusive license is “a license of intellectual property rights that gives the licensee a right to use, make, or sell the licensed item on a shared basis with the licensor and possibly other licensees.” Black’s Law Dictionary 1004 (9th ed. 2009).
A representation of a computer program that is written in a machine language consisting of binary code (i.e., ones and zeroes). Object code is comprehensible to a computer or other electronic device, but as a general rule, it is not comprehensible to human beings.
“An official certification is a certification, by the appropriate Government official, that the original of the document is on file in a public office and that the reproduction is a true copy of the original.” 37 C.F.R. § 201.4(a)(3)(ii) (italics omitted).
An abbreviation for the U.S. Copyright Office’s “Office of the General Counsel.”
The database posted on the U.S. Copyright Office’s website containing records relating to registrations and document recordations issued after 1978. Also known as the Public Catalog.
An abbreviation for the “Performing Arts Division” of the U.S. Copyright Office.
The art of imitating, presenting, or acting out situations, characters, or events through the use of physical gestures and bodily movements.
“To ‘perform’ a work means to recite, render, play, dance, or act it, either directly or by means of any device or process or, in the case of a motion picture or other audiovisual work, to show its images in any sequence or to make the sounds accompanying it audible.” 17 U.S.C. § 101.
“‘Phonorecords’ are material objects in which sounds, other than those accompanying a motion picture or other audiovisual work, are fixed by any method now known or later developed, and from which the sounds can be perceived, reproduced, or otherwise communicated, either directly or with the aid of a machine or device. The term ‘phonorecords’ includes...
An abbreviation for the U.S. Copyright Office’s “Office of Policy and International Affairs.”
“‘Pictorial, graphic, and sculptural works’ include two-dimensional and three-dimensional works of fine, graphic, and applied art, photographs, prints and art reproductions, maps, globes, charts, diagrams, models, and technical drawings, including architectural plans. Such works shall include works of artistic craftsmanship insofar as their form but not their mechanical or utilitarian aspects are concerned; the design...
An abbreviation for the U.S. Copyright Office’s “Office of Public Information and Education.”
An abbreviation for the U.S. Copyright Office’s “Public Information Office.”
A procedure that allows certain copyright owners to file an action for infringement and to seek statutory damages and attorney’s fees in cases where the work was infringed before the copyright owner completed the work and released it to the public. Preregistration is entirely optional. It is neither a prerequisite nor a precondition for copyright...
“A ‘pseudonymous work’ is a work on the copies or phonorecords of which the author is identified under a fictitious name.” 17 U.S.C. § 101.
“‘Publication’ is the distribution of copies or phonorecords of a work to the public by sale or other transfer of ownership, or by rental, lease, or lending. The offering to distribute copies or phonorecords to a group of persons for purposes of further distribution, public performance, or public display, constitutes publication. A public performance or...
A work of authorship that is not protected by copyright is in the public domain. In the United States, a copyrighted work enters the public domain when its full copyright term has expired. In addition, works published in the United States without a copyright notice on or before March 1, 1989 may be in the...
“To perform or display a work ‘publicly’ means to perform or display it at a place open to the public or at any place where a substantial number of persons outside of a normal circle of a family and its social acquaintances is gathered; or to transmit or otherwise communicate a performance or display of...
Official records maintained by the U.S. Copyright Office relating to registrations and document recordations, which are made available to the public through the Office’s website, the Copyright Card Catalog, the Catalog of Copyright Entries, or the Records Research and Certification Section.
An abbreviation for the U.S. Copyright Office’s “Receipt Analysis and Control Division.”
Recordation is the official filing in the public records of the U.S. Copyright Office of a document having to do with copyright. The purpose of recordation is to make a public record of the facts in the document.
Members of the U.S. Copyright Office’s Recordation Section who are responsible for recording documents.
The Register of Copyrights is the Director of the U.S. Copyright Office. By statute, the Register works under the general direction of the Librarian of Congress and carries out a variety of legal and policy functions that are enumerated throughout Title 17.
“‘Registration,’ for purposes of Sections 205(c)(2), 405, 406, 410(d), 411, 412, and 506(e) [of the 1976 Act] means a registration of a claim in the original or the renewed and extended term of copyright.” 17 U.S.C. § 101. The principle function performed by the U.S. Copyright Office under the provisions of Section 408 of the...
A public record maintained by the U.S. Copyright Office. It includes all the materials that an applicant submits to the Office in connection with an application to register a claim to copyright, including the application, deposit copy(ies), and the filing fee, as well as any communications between the applicant and the Office relating to that...
Members of the U.S. Copyright Office’s Registration Program who are responsible for examining claims to copyright.
The party who submits a document to the U.S. Copyright Office for recordatio
An assertion of ownership for the second term of copyright in a work of authorship originally published or registered under the 1909 Act; when filed with the U.S. Copyright Office, a renewal claim presents a request for registration. For works copyrighted between January 1, 1964 and December 31, 1977, renewal is automatic but registration confers...
A request for reconsideration to the Registration Program Office or a request for reconsideration to the Review Board is an administrative review of a refusal to register a claim in copyright by an applicant.
A Board consisting of the Register of Copyrights and the General Counsel of the Copyright Office (or their respective designees) and a third individual designated by the Register that hears second requests for reconsideration of the Registration Program’s decision to refuse to register a claim to copyright.
An abbreviation for the U.S. Copyright Office’s “Records Research and Certification Section.”
In certain circumstances, the U.S. Copyright Office may register a claim under the Rule of Doubt if the registration specialist is unable to examine the deposit copy(ies) to determine if the work contains copyrightable authorship. In exceptional cases, the Office may apply the Rule of Doubt if it has not taken a position on a...
A stock character, setting, or event that is common to a particular subject matter or medium. Standard expressions that necessarily follow from the idea for a work of authorship.
Content generated by a computer program that appears on a computer screen.
“A ‘semiconductor chip product’ is the final or intermediate form of any product— (A) having two or more layers of metallic, insulating, or semiconductor material, deposited or otherwise placed on, or etched away or otherwise removed from, a piece of semiconductor material in accordance with a predetermined pattern; and (B) intended to perform electronic circuitry...
A work that is issued or intended to be issued on an established schedule in successive parts bearing numerical or chronological designations that are intended to be continued indefinitely. Examples include periodicals, newspapers, magazines, newsletters, journals, bulletins, annuals, the proceedings of societies, and other similar works.
series of musical, spoken, or other sounds connotes a temporal succession of sounds rather than simultaneous sounds, such as those expressed in a chord vertically.
A document generated by the U.S. Copyright Office’s electronic registration system. If the applicant submits a physical copy of a work to the Office, the copy must be accompanied by a shipping slip. Failure to include a shipping slip may prevent the Office from connecting the deposit copies with the online application and may require...
“‘Sound recordings’ are works that result from the fixation of a series of musical, spoken, or other sounds, but not including the sounds accompanying a motion picture or other audiovisual work, regardless of the nature of the material objects, such as disks, tapes, or other phonorecords, in which they are embodied.” 17 U.S.C. § 101.
Source code is a set of statements and instructions written by a human being using a particular programming language, such as Java, LISP, LOGO, PASCAL, Programming Inquiry Learning or Teaching, Programming in Logic, Assembly Language, or other programming languages. Typically, these statements are comprehensible to a person who is familiar with the relevant programming language,...
“The ‘source country’ of a restored work is— (A) a nation other than the United States; (B) in the case of an unpublished work— (i) the eligible country in which the author or rightholder is a national or domiciliary,or, if a restored work has more than 1 author or rightholder, of which the majority of...
Special handling is a procedure for expediting the examination of a claim to copyright or to record a document. The U.S. Copyright Office offers this service in certain circumstances where a copyright owner or other interested parties have a compelling reason for the expedited issuance of a certificate of registration or certificate of recordation, such...
A right to use certain works if certain statutory requirements are met as required by the Copyright Law.
A Latin phrase meaning “of its own kind.” In the context of the copyright law, it refers to classes of works protected under the statute that do not fall within existing categories of legal protection, such as mask works and vessel designs.
A special type of registration that may be used “to correct an error in a copyright registration or to amplify the information given in a registration.”
“A sworn certification is an affidavit under the official seal of any officer authorized to administer oaths within the United States, or if the original is located outside of the United States, under the official seal of any diplomatic or consular officer of the United States or of a person authorized to administer oaths whose...
“A ‘transfer of copyright ownership’ is an assignment, mortgage, exclusive license, or any other conveyance, alienation, or hypothecation of a copyright or of any of the exclusive rights comprised in a copyright, whether or not it is limited in time or place of effect, but not including a nonexclusive license.”
A brief statement in an application for registration that explains how the claimant obtained ownership of the copyright.
A rendering of a work of authorship from one language into another, such as a work that has been translated from English into Spanish, from German into English, or from Hindi into Malayalam.
“A ‘treaty party’ is a country or intergovernmental organization other than the United States that is a party to an international agreement.”
For purposes of copyright registration, “unclaimable material” includes (i) previously published material; (ii) previously registered material; (iii) material that is in the public domain; and/or (iv) copyrightable material that is not owned by the claimant named in the application. If a work contains an appreciable amount of unclaimable material, the applicant should exclude that material...
“For purposes of section 411 [of the 1976 Act], a work is a ‘United States work’ only if— in the case of a published work, the work is first published— (A) in the United States; (B) simultaneously in the United States and another treaty party or parties, whose law grants a term of copyright protection...
A registration accommodation by the U.S. Copyright Office for registering multiple works with one application, one filing fee, and one set of deposit copies where the works are physically bundled together by the claimant for distribution to the public as a single, integrated unit and all the works are first published in that integrated unit.
A registration accommodation by the U.S. Copyright Office for registering a number of unpublished works with one application, one filing fee, and one set of deposit copies.
A work for which publication, as defined in the Copyright Law, has not occurred.
An abbreviation for “Uruguay Round Agreements Act.”
Legislation that includes an agreement on the Trade-Related Aspects of Intellectual Property under the General Agreement on Tariffs and Trade. Signed into law December 8, 1994.
“A ‘useful article’ is an article having an intrinsic utilitarian function that is not merely to portray the appearance of the article or to convey information. An article that is normally a part of a useful article is considered a ‘useful article.’”
An abbreviation for the “Visual Arts Division” of the U.S. Copyright Office.
A design of a frame or body of a craft that is capable of being independently propelled and steered through water, and is designed to carry or transport one or more passengers. Vessel designs received design protection (not copyright protection) in 1998 pursuant to the Vessel Hull Design Protection Act of 1998 and may be...
The U.S. Copyright Office uses the term “visual arts works” to collectively refer to “pictorial, graphic, and sculptural works” and “architectural works.”
“A ‘work of visual art’ is— a painting, drawing, print or sculpture, existing in a single copy, in a limited edition of 200 copies or fewer that are signed and consecutively numbered by the author, or, in the case of a sculpture, in multiple cast, carved, or fabricated sculptures of 200 or fewer that are...
“The author’s ‘widow’ or ‘widower’ is the author’s surviving spouse under the law of the author’s domicile at the time of his or her death, whether or not the spouse has later remarried.”
An abbreviation for “World Intellectual Property Organization.”
“A ‘work of the United States Government’ is a work prepared by an officer or employee of the United States Government as part of that person’s official duties.”
“A ‘work made for hire’ is— a work prepared by an employee within the scope of his or her employment; or a work specially ordered or commissioned for use as a contribution to a collective work, as a part of a motion picture or other audiovisual work, as a translation, as a supplementary work, as...
For purposes of copyright registration, the U.S. Copyright Office uses the term “works of the performing arts” to refer collectively to the following works of authorship: musical works, including any accompanying words; sound recordings; dramatic works, including any accompanying music; choreographic works; pantomimes; audiovisual works; and motion pictures. “This class includes all published and unpublished...
A specialized agency of the United Nations that administers intellectual property matters of concern to the member States of the United Nations in order to ensure that the rights of creators and owners of intellectual property are protected worldwide and that inventors and authors are, thus, recognized and rewarded for their ingenuity.
An abbreviation for “World Trade Organization.”
An institution responsible for administering a loan, acting on behalf of all lenders, and acting as a conduit for all payments in a loan syndication. An administrative agent should report drawn loan syndications to U.S. resident borrowers owed to foreign residents on the BL-2 (if dollar-denominated) or the BQ-2 (if foreign currency-denominated) (except when pooled...
A foreign-resident affiliate is any foreign-resident entity for which the reporter owns 10 percent or more of its voting equity (or the equivalent); or any foreign-resident “parent” company which owns 10 percent or more of the reporter’s voting equity (or the equivalent); or any foreign-resident company which is a subsidiary (50 percent or more owned)...
Negotiable certificates, typically issued by a U.S.-resident company for securities (usually shares of stock) issued by a foreign corporation. The securities are backed by the foreign securities, which are held in a custodial account, either at the issuing bank or by an agent. The ADRs themselves may be held in U.S. or foreign banks. ADRs...
Negotiable securities certificate issued in the United States by transfer agents acting on behalf of foreign issuers, where the foreign issuers absorb part or all of the handling costs involved. The ADS should be reported, not the foreign securities held in custody.
A collection of assets (securities, real estate, currencies, commodities). Funds and other investment vehicles usually invest in asset pools.
Securitized interests in a pool of assets, which give the purchaser a claim against the cash flows generated by the underlying assets. These pools may be derived from mortgage loans, auto loans, credit card receivables, vehicle and equipment leases, consumer loans, commercial loans or other assets. ABS give the holder an undivided interest in the...
Securities that are not registered in the name of their owner. The owner collects interest and dividends upon presentation of detachable coupons to a bank or fiduciary agent.
Bearer notes issued to one or more dealers that are represented by a single global note in bearer form and are intended to be the backing for registered securities issued by the central security depository. (See also GLOBAL NOTES/CERTIFICATES.)
Collateralized dollar-denominated bonds issued by a foreign government or central bank in exchange for loans under the Brady Plan. Brady Bonds are considered long- term debt securities.
Cash balances: 1) held by U.S. residents in brokerage and margin accounts with foreign residents; and 2) held by foreign residents in brokerage and margin accounts at U.S.-resident entities. Brokerage balances should be reported gross and include funds that may be freely withdrawn or held to support positions in futures, securities or other financial instruments....
CSDs hold securities, either in certificated or uncertificated (dematerialized) form, to enable the transfer of ownership of securities. CSDs are not necessarily custodians, since they may be responsible only for registering and settling security transactions. The major U.S. central securities depository is Depository Trust and Clearing Corporation (DTCC) and the major foreign- resident central securities...
Mortgage-backed securities, which give the purchaser a claim against the cash flows generated by the underlying mortgages. CMOs are usually characterized by a multi-tranche or multi-class serialized structure.
A promissory note either unsecured or backed by assets such as loans or mortgages. They are usually sold at a discount and customarily have a maturity of 270 days or less. Holdings of commercial paper should be reported on the B reports at face value, as a short-term security.
An account in which the investment funds of individual clients are pooled, with each client owning portions of the pooled account.
Commodity contracts are contracts that have a return, or portion of their return, linked to the price of, or to an index of, precious metals, petroleum, lumber, agricultural products, etc. Derivatives are reportable ONLY on TIC Form D Reports.
A security representing units of equity ownership in a corporation. Common stock claims are subordinate to the claims of bondholders, preferred stockholders, and general creditors. Owners typically are entitled to vote on the selection of directors and other important matters as well as to receive dividends on their holdings.
A bond that can be exchanged at a set price for equity securities by the holder under certain conditions.
Corporate securities (usually preferred shares or bonds) that are exchangeable for a set number of another form (usually common shares) at a pre-stated price.
Also known as Mortgage Bond or Pfandbriefe. A bond that is backed by loans, typically mortgages, but does not give the purchaser a claim against the cash flows generated by the underlying assets.
Liabilities to a third party that are incidental to, or that arise from, the exercise of banking powers, including the payment of checks and lending of money. They must be no larger than necessary for the specific transaction. Credit balances are reported as deposits. Credit balances are reported as deposits on the BL-1 and as...
Contracts in which the payout is linked primarily to some measure of the creditworthiness of one or more credits. Credit derivatives are arrangements that allow one party (the “beneficiary”) to transfer the credit risk of a “reference asset” or “reference entity” to another party (the “guarantor”). Credit derivatives include credit default swaps, total return swaps...
An organization that manages or administers the custody or safekeeping of stock certificates, debt securities, or other assets for institutional and private investors.
A securities dealer is an entity that engages in buying securities for its own account. However, the definition of securities dealers excludes depository institutions and other institutions acting in a fiduciary capacity. See the Securities Exchange Act for a list of the activities that constitutes a dealer.
A debt security issued by a bank, backed by federal deposit insurance up to $100,000 in principal and interest. They pay a fixed rate of interest and can be issued in book entry or certificate form.
Negotiable certificates evidencing the deposit of publicly traded securities. Depositary Receipts can be listed on an exchange to ease trading in markets outside that of the issuing corporation. Depositary receipts are available in various forms, including American (ADR), which represent shares of a non-U.S. corporation and are considered foreign TIC Glossary equity securities; European (EDR),...
An entity that holds securities, either in certificated or uncertificated (dematerialized) form, to enable the transfer of ownership of securities. Depositories are not necessarily custodians, since they may be responsible only for registering and settling security transactions. The major U.S. depository is Depository Trust and Clearing Corporation (DTCC).
Any financial institution that accepts deposits. Depository institutions include government-sponsored credit unions. U.S. depository institutions include: U.S. government-sponsored credit unions, U.S. commercial banks (national banks, state- chartered commercial banks, trust companies that perform commercial banking business), U.S. branches and agencies of foreign banks, U.S. industrial banks, and banking Edge Act and Agreement Corporations, building or...
The unpaid balance of money or its equivalent received or held by a bank in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, including balances in a checking, savings, or time account, or which are evidenced by its certificate of indebtedness, or...
A derivative contract is a financial instrument or other contract with all three of the following characteristics: It has: (a) one or more underlyings; (b) one or more notional amounts; and (c) payment provisions. These terms determine the amount of the settlement or settlements, and, in some cases, whether or not a settlement is required....
Entities owned by national governments other than the United States and are established to promote economic development of sectors of the economy, such as trade, housing, agriculture, finance and industry. Unless the development bank also performs the functions of a foreign official institution, development banks should be reported as private banks, even if owned by...
Investment in which a resident of one country obtains a degree of influence over the management of a business enterprise in another country. The criterion used to define direct investment is ownership of at least 10 percent of the voting securities of an incorporated business enterprise or the equivalent interest in an unincorporated business enterprise....
An entity that acquires or relinquishes securities for its own account (for trading, investment, or any other purposes) or invests on behalf of others, including asset pools, such as managers of mutual funds, managers of insurance company policyholder assets, and pension fund managers.
Equity includes common stock, preferred stock, fund shares, and portfolio investment in limited partnerships and hedge funds and funds of hedge funds. U.S. equity is issued by entities resident in the United States. Foreign Equity is issued by public and private corporations and entities incorporated outside the United States, including holdings of American Depositary Receipts...
Equity contracts are contracts that have a return, or portion of their return, linked to the price of a particular equity or to an index of equity prices, such as the Standard and Poor’s 500. Derivatives are reportable ONLY on TIC Form D Reports.
Mutual funds which trade like stocks on exchanges.
An organization or part thereof (e.g., subsidiary or other operating unit) whose major activity is to raise or otherwise obtain funds to provide to another entity. (An insurance company is not a financial intermediary. “Other financial intermediary” is a financial intermediary other than a depository institution, a securities broker/dealer or a bank holding company and/or...
Any organization that is principally engaged in providing financial services to other organizations and households. This includes but is not limited to financial intermediation services provided by banks and other depository institutions, brokerage services, underwriting services, financial management services, credit origination services, credit card services, insurance services, pension services, financial advisory services, custody services, securities...
A lease is an agreement that transfers the right to use an asset for a specified period of time. Follow the standards set forth in FASB Statement No. 13, “Accounting for Leases” to distinguish a financing lease from an operating lease. In particular, if any one of the following criteria is met, a lease must...
A bank located in a foreign country and organized under the laws of that country.
A foreign official institution includes the following: Treasuries, including ministries of finance, or corresponding departments of national governments; central banks; including all departments thereof; stabilization funds, including official exchange control offices or other government exchange authorities; diplomatic and consular establishments and other departments and agencies of national governments International and regional organizations. Banks, corporations, or...
Any individual, corporation, or other organization legally established outside the United States, regardless of the actual center of economic activity of the entity. A corporation incorporated outside the United States is a foreign resident even if it has no physical presence outside the United States. Foreigners/Foreign Residents include: Foreign governments and any subdivision, agency or...
Securities issued by entities established under the laws of a foreign country (i.e., legally incorporated, otherwise legally organized, or licensed (such as branches) in a foreign country) and securities issued by international organizations, even if these organizations are located in the United States.
A foreign institution that holds in safekeeping foreign securities for a U.S. resident custodian.
Any foreign-resident entity for which the reporter owns, directly or indirectly, 10 percent or more of its voting equity (or the equivalent); or any foreign- resident “parent” company which owns 10 percent or more of the reporter’s voting equity (or the equivalent); or any foreign-resident company which is a subsidiary (50 percent or more owned)...
A custodian located outside the United States, including a foreign affiliate of a U.S. custodian. Reporters should determine the location of a custodian according to the country where the custodian is incorporated, or otherwise legally established, not according to the country of custodian’s parent firm, and not according to the location of the custodian’s operations...
Contracts that represent agreements for future delivery of financial instruments or commodities in which the buyer agrees to purchase and the seller agrees to deliver, at a specified future date, a specified commodity or instrument at a specified price or yield. Derivatives are reportable ONLY on TIC Form D Reports.
Pooled, separate and general investment accounts including the following institutional and private investors: private and public pension funds; mutual funds, country funds, exchange traded funds, unit investment trusts, collective-investment trusts, hedge funds, private funds, and any other similarly pooled, commingled investment fund.
Contracts that represent agreements for future delivery of financial instruments in which the buyer agrees to purchase and the seller agrees to deliver, at a specified future date, a specified instrument at a specified price or yield. Futures contracts are standardized and are traded on organized exchanges. Derivatives are reportable ONLY on TIC Form D...
Notes issued to one or more dealers that are represented by a single global note and are intended to be the backing for registered securities issued by the central security depository.
The holder of record is the owner of a company’s securities as recorded on the books of the issuing company or its transfer agent as of a particular date. The term “holder of securities” in the TIC instructions also refers to the custodian holding on behalf of its clients. The content of the surrounding instructions...
An individual or group of individuals that share a dwelling, that is, live and sleep in that dwelling most of the time, who pool some or all of their income and wealth, and who consume certain types of goods collectively, mainly housing and food. Business activities included in this sector are informal and do not...
Insurance technical reserves are liabilities of the insurance companies to policyholders and beneficiaries which represent the amounts identified by insurance companies to account for the prepayment of insurance premiums and reserves for unpaid claims incurred but not yet paid. These reserves quantify the outstanding loss liabilities for insurance claims which have been reported and not...
A set of asset and liability accounts, segregated on the books of the United States establishing entity. IBFs are permitted to hold only assets and liabilities of foreign residents, residents of Puerto Rico and United States territories and possessions, other IBFs, and United States and foreign offices of the establishing entity. (See Federal Reserve Regulation...
An entity responsible for communicating instructions regarding account transactions on behalf of end-investors to ensure authorized transactions are performed correctly and that the accounts are properly maintained and reported to the end- investor. An entity’s status as an investment manager is not affected by the entity’s responsibility, or lack thereof, for making investment decisions.
A share of a company bound by a trust deed issued in registered form, formed to invest in specific types of securities. Shares in an investment trust can usually be bought and sold only through the stock exchange. These are sometimes referred to as ‘closed-end’ funds.
Legal entity that has the power to issue and distribute a security. Issuers include corporations, municipalities, foreign and domestic governments and their agencies, and investment trusts.
The determination of whether a partner and a limited partnership are in a direct investment relationship is based on who controls the partnership; it is NOT based on the percentage of ownership in the partnership’s equity. In most cases, the general partner is presumed to control a limited partnership and therefore, to be in a...
A loan is generally an extension of credit resulting from direct negotiations between a lender and a borrower. The loan may have originated through direct negotiations with the borrower or it may have been originated by another lender that directly negotiated with a borrower. Loans may take the form of promissory notes, acknowledgements of advance,...
An arrangement whereby one party (the loan servicer) agrees to collect payments from borrowers on behalf of the holder(s) of the loan. The loan servicer may be the originator of the loans, or may be another institution. The loan servicer/administrative agent should report the outstanding loans to U.S. resident borrowers owed to foreign residents on...
No contractual maturity or an original maturity of more than one year. Long-term securities are securities without a stated maturity date (such as equities) or with an original term-to-maturity greater than one year.
Debt security with no contractual maturity or with an original maturity of more than one year.
Manager of a pool of money such as a, but not limited to, mutual fund, pension fund, insurance fund, bank-pooled fund or hedge funds.
Debt securities issued by state and local governments.
Institutions owned by foreign central governments that are classified as banks in their respective countries. Nationalized banks are classified as foreign private commercial banks. However, a nationalized bank is classified as a foreign official institution when it performs the functions of a central bank.
A negotiable (transferable) instrument or deposit in book entry form evidenced by a receipt or similar acknowledgement issued by a bank, which provides on its face that the amount of such deposit is payable to bearer or any specified person (e.g., deposit notes, bank notes). Negotiable certificates of deposit are not considered securities on the...
Net settlements include all cash receipts and payments for the purchase, sale, or final closeout of derivatives, as well as all payments according to the terms of derivative contracts such as periodic payments under the terms of a swap agreement or daily payments for an exchange-traded contract. Do not report as settlements the value of...
Businesses and institutions other than banks and other depository institutions, that are primarily engaged in proprietary investments and/or in the provision of financial services to other organizations and households. These services include, but are not limited to financial services whose functions are predominantly: the extending of credit for business purposes, brokerage services, underwriting services, financial...
Any organization that is principally engaged in producing goods or nonfinancial services. This sector excludes Federal, state, and local governments; however it includes agencies and instrumentalities of governments such as utilities that produce goods or non-financial services that are not strictly governmental in nature in exchange for money.
Institutions that are mainly engaged in providing goods and services to households free of charge or at prices that are not economically significant. Examples include but are not limited to charities, relief and aid organizations and religious institutions.
Contracts that convey either a right or an obligation to buy or sell a financial instrument at a specified price by a specified future date. Options may trade on an organized exchange or in OTC markets. Derivatives are reportable ONLY on TIC Form D Reports. Bought Options: The buyer of an option contract has, for...
An overdraft exists when a depository institution honors a check or draft drawn against a deposit account in which insufficient funds are held. Overdrafts should be reported gross and not netted against good balances.
Own foreign offices are foreign offices (banking and nonbanking) of the reporter, including any foreign office indirectly owned through a U.S. subsidiary depository or non depository financial institution. In addition, reporters owned by a foreign resident should include its direct foreign parent and any non U.S. branches or agencies as own foreign offices. Reporters should...
A loan agreement whereby one bank contracts with other banks to participate in making a loan to a borrower. Each participant should report the amount of its own share in the participated loan.
An entity that is appointed by an issuer of securities, which makes payments of principal and interest on the issuer’s behalf.
For TIC reporting purposes, a U.S. resident pension fund is a legal entity organized to provide retirement income benefits exclusively for the sponsor’s employees or members. The term “pension funds” includes both defined contribution and defined benefit funds that are sponsored by private or public employers. These funds are institutional units separate from the units...
A policyholder is the party that owns an insurance policy.
Pursuant to 22 U.S.C. 3102, portfolio investment means any international investment which is not direct investment. “International investment” means (a) the ownership or control, directly or indirectly, by contractual commitment or otherwise, by foreign persons of any interest in property in the United States, or of stock, other securities, or short and long-term debt obligations...
Equity securities with preferences to the common stock of the issuer. Preferred stock is usually entitled to dividends, stated as a fixed dollar amount or as a percentage of par value, before any dividend can be paid on the common stock and has priority over common shares in the event of liquidation.
Prepaid insurance premiums are the consideration paid by policyholders to insurance underwriters in exchange for the provision of defined future benefits or for the indemnification against specified insured losses. The portion of premiums associated with the unexpired portion of the term of coverage should be reported as liabilities of U.S. – resident insurance underwriters to...
Full service brokers that facilitate the clearance and settlement of securities provide the ability to trade with multiple brokerage houses while maintaining a centralized master account with all of the client’s cash and securities and provide other services.
This term refers to the same class of financial entities that must report to the Securities and Exchange Commission as private funds on Form PF: “any issuer that would be an investment company as defined in section 3 of the Investment Company Act of 1940 but for section 3(c)(1) or 3(c)(7) of … [that] Act.”
Reinsurance recoverable represent reimbursements expected by U.S.- resident insurance underwriters, under reinsurance contracts governing underwriting coverage ceded to a foreign – resident insurer, for paid and unpaid claims, claims settlement expenses, and other policy benefits.
A repurchase agreement is a transaction involving the sale of financial assets by one party to another, subject to an agreement for the seller to repurchase the assets at a specified price on a future date. A resale agreement (also known as a reverse repurchase agreement) is the same transaction viewed from the opposite perspective....
Securities are any bill, note, bond, debenture, equity or similar instrument that is commonly referred to as a security, excluding certificates of deposit. (In cases where it is not clear if a specific instrument is a security, contact the Federal Reserve Bank of New York.) Securities may be negotiable (tradable in secondary markets) or non-negotiable...
Generally, securities brokers are entities that regularly engage in effecting securities transactions for others. A securities dealer is an entity that engages in buying securities for its own account. However, the definition of securities dealers excludes depository institutions and other institutions acting in a fiduciary capacity. (See the Securities Exchange Act for a list of...
The date a security is delivered to the purchaser.
Under settlement date accounting, assets purchased are not recorded until settlement date. Therefore, only after receiving or sending payment for any financial instrument should the transaction or position be reported.
A share is a unit of equity ownership in a corporation; mutual fund; or interest, normally represented by a certificate, in a general or limited partnership. Ownership and transactions are sometimes made and priced in terms of other units, such as a “unit” of a Unit Investment Trust. In the case of Exchange-Traded-Funds, large investors...
Original maturity of one year or less.
Debt security, including negotiable money market instruments, with an original maturity of one year or less.
A debt security on which the interest and principal payments are made from a sinking fund. A sinking fund is money accumulated on a regular basis in a separate custodial account that is used to retire a certain amount of the debt at specified intervals and to pay interest on the remaining principal at specified...
The fifty states of the United States and the District of Columbia, Puerto Rico and the U.S. territories and possessions, and their political subdivisions, including counties, municipalities, school districts, irrigation districts, and drainage and sewer districts. INCLUDES, but is not limited to the following activities that issue securities: General municipal obligation bonds; Housing/Multi-family programs (housing...
Debt securities that have been transformed from a principal amount with periodic interest coupons into a series of zero-coupon securities with the range of maturities matching the coupon payment dates and the redemption date of the principal amount.
An acronym for Separately Traded Registered Interest and Principal Securities. These securities are created by “stripping” coupon payments from securities and treating these coupons as separate securities from the principal.
An over-the-counter financial instrument created specifically to meet the needs of one or a small number of investors. Some of the more common structures include: step-up bonds, index amortizing notes, dual index notes, deleveraged bonds, range bonds, and inverse floaters.
A custodian that has legal responsibility for the safekeeping of securities entrusted to it by another custodian.
A security evidencing debt that the holder agrees to rank after senior creditors, but before shareholders, in a bankruptcy.
A company in which another company (parent) owns 50% or more of the voting securities, or an equivalent interest, or meets the consolidation requirements of U.S. GAAP. A subsidiary is always, by definition, an affiliate, but subsidiary is the preferred term when majority control exists.
Contracts in which two parties agree to exchange payment streams based on a specified notional amount for a specified period. Forward starting swap contracts should be reported as swaps. Derivatives are reportable ONLY on TIC Form D Reports.
Sweep agreements are contractual agreements between institutions and their customers that allow funds to be automatically transferred to another account at the same institution, another institution, or into a financial instrument. When funds of U.S. nonbank residents are swept to a non-U.S. office of a B reporter, the B reporter should report the funds held...
A common form of sovereign debt issued by many governments.
An entity whose role is to represent the CLO investors. The U.S. CLO Trustee is responsible for issuing monthly ‘trustee reports” to investors, which list all assets held by the CLO and details its recent purchases and sales. The U.S. CLO Trustee should report the outstanding loans to U.S. resident borrowers held by foreign CLOs...
Securities that are guaranteed by or are the obligation of a federal agency, a federal instrumentality, or a federally sponsored enterprise. These securities include, but are not limited to, mortgage-backed securities that were issued by, guaranteed by, or are the obligation of a federal agency, a federal instrumentality, or a federally sponsored enterprise, including participation...
Offices of United States banks located in foreign countries that provide financial services to persons in the United States Armed Forces stationed abroad. For purposes of these reports, United States military facilities are classified as banking offices located in the United States.
Pursuant to 22 U.S.C. 3102 a United States person is any individual, branch, partnership, associated group, association, estate, trust, corporation, or other organization (whether or not organized under the laws of any State), and any government (including a foreign government, the United States Government, a State or local government, and any agency, corporation, financial institution,...
Any individual, corporation, or other organization located in the United States, including branches, subsidiaries, and affiliates of foreign entities located in the United States. The residency of an entity is determined by where a corporation or subsidiary is incorporated and where a branch is licensed, not by the physical office of the counterparty. Furthermore, U.S....
Securities issued by U.S.- resident entities, with the exception of depositary receipts that are backed by foreign securities and securities issued by international organizations.
Debt instruments that are direct obligations of the United States Treasury, including Treasury bills (short-term with an original maturity of one year or less), Treasury notes (intermediate-term with an original maturity of 1-10 years), Treasury bonds (long-term with an original maturity of 10 years or more), Treasury Inflation-index securities, STRIPS and securities from which one...
A custodian that is resident in the United States, including a U.S.-resident affiliate of a foreign custodian.
An entity that is resident in the United States, including a U.S. affiliate of a foreign end-investor, that either invests for its own account (for trading, investment and other purposes) or on behalf of others, including managed accounts and asset pools. U.S.-resident end-investors include managers of a mutual fund, managers of assets held for insurance...
Any individual, corporation, or other entity located in the United States that issues securities in its own name, including U.S.-resident affiliates of foreign entities.
An entity that takes possession of a security and resells it. The lead underwriter(s) are the underwriter(s) responsible for managing the offering.
A fixed portfolio of securities that are assembled by an underwriter/ sponsor and upon completion of the underwriting, are deposited with an independent trustee. Unit investment trusts have a definite termination date, usually between 6 months and 10 years.
The fifty (50) States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, and the following: American Samoa, Baker Island, Guam, Howland Island, Jarvis Island, Johnston Atoll, Kingman Reef, Midway Islands, Navassa Island, Palmyra Atoll, U.S. Virgin Islands, andWake Island.
Liabilities of U.S.-resident insurance underwriters to foreign- resident policyholders, for losses that have incurred but no yet reported (IBNR) and for reported unpaid claims. In addition, U.S. – resident insurance underwriters should recognize as claims, the portion of liabilities that will be recovered from foreign-resident reinsurers (See reinsurance recoverables).
An instrument (usually issued together with a bond or preferred stock) that entitles the holder to buy at a specified price a proportionate amount of common stock within a specified period of time. Derivative contracts are only reportable on the TIC D reports. Embedded derivatives that are not bifurcated under FAS 133 should not be...
Bonds that do not provide interest payments. Zero coupon bonds usually have an issue price well below 100% of the face value with repayment on maturity at face value or par. The investors’ return is the difference between the issue price and redemption value.
The Healthcare Simulation Dictionary is the intellectual property of The Society for Simulation in Healthcare (SSH). The Agency for Healthcare Research and Quality (AHRQ) has a license to use and disseminate the work. Each user is granted a royalty-free, non-exclusive, non-transferable license to use the dictionary in their work. The dictionary may not be changed...
Association for Simulated Practice in Health care (ASPiH) Association for Standardized Patient Educators (ASPE) Australian Society for Simulation in Health care (ASSH) Brasilian Association for Simulation in Health (Abrassim) Canadian Network for Simulation in Health care (CNSH) Chilean Society of Clinical Simulation Dutch Society for Simulation in Health care (DSSH) International Nursing Association for Clinical...
In January 2013, an international group of simulation experts gathered in Orlando, Florida, U.S.A. to form a working team whose mission was to create a dictionary of terms used in health care simulation. This group recognized a need to compile terms that had been completed by other groups in health care simulation and to add...
This is a living document and represents the sum of the work at this moment. Terms and definitions will change and be edited, added, or deleted over time. The intent was to be inclusive of the various definitions in use, not to exclude any definitions or areas of health care simulation. This collection ofdefinitions shows...
Etym. late 14c., “an overseer, guardian, steward,” from Latin actor “an agent or doer,” also “theatrical player,” from past participle stem of agere. Sense of “one who performs in plays” is 1580s, originally applied to both men and women. Definition • In health care simulation, professional and/or amateur people trained to reproduce the components of...
Etym. advocate (n.) mid-14c., “one whose profession is to plead cases in a court of justice,” a technical term from Roman law. Also in Middle English as “one who intercedes for another,” and “protector, champion, patron.” Etym. inquest (n.) mid-15c., enquery, from enquere (see ‘inquire’). From Latin methodus “way of teaching or going,” from Greek...
Etym. late 14c., from Old French assessor “assistant judge, assessor (in court)” (12c., Modern French assesseur) and directly from Latin assessor “an assistant, aid; an assistant judge.” Definition A person who performs assessment of individuals according to pre-established criteria. Assessors must have specific and substantial training, expertise, and competency in assessment (Dictionary.com).
Etym. augment (v.) c. 1400, from Old French augmenter “increase, enhance” (14c.), from Late Latin augmentare “to increase,” from Latin augmentum “an increase,” from augere “to increase, make big, enlarge, enrich.” Related: Augmented; augmenting. Etym. reality (n.) 1540s, “quality of being real,” from French réalité and directly Medieval Latin realitatem (nominative realitas); Meaning “real existence,...
Etym. 1784, “descent of a Hindu deity,” from Sanskrit. In computer use, it seems to trace to the novel “Snowcrash” (1992) by Neal Stephenson. Definition A graphical representation, typically three-dimensional, of a person capable of relatively complex actions, including facial expression and physical responses, while participating in a virtual simulation-based experience. The user controls the...
Note: this term is often not clearly distinguished from Orientation or Prebriefing Etym. “fact or situation of giving preliminary instructions.” 1910 Definition An activity immediately preceding the start of a simulation activity where the participants receive essential information about the simulation scenario, such as background information, vital signs, instructions, or guidelines. For example, before beginning...
Etym. scenario (n.) 1868, “sketch of the plot of a play,” from Italian scenario, from Late Latin scenarius “of stage scenes,” from Latin scena “scene.” Etym. clinical (adj.) 1780, “pertaining to hospital patients or hospital care,” from clinic + -al. Definition The plan of an expected and potential course of events for a simulated clinical...
Etym. Meaning “to prepare (someone) for an exam.” Related: Coached; coaching. Definition A method of directing or instructing a person or group of people in order to achieve a goal or goals, develop a specifi c skill or skills, or develop a competency or competencies. (International Nursing Association for Simulation and Clinical Learning, 2011)
Etym. computer (n.) 1640s, “one who calculates,” agent noun from Compute (v.). Meaning “calculating machine” (of any type) is from 897; in modern use, “programmable digital electronic computer” 1945 under this name; theoretical from 1937, as Turing machine). NIAC (1946) usually is considered the first. Etym. simulation (n.) noun of action from past participle stem...
Etym. conceptual (adj.) 1820, “pertaining to mental conception” (there is an isolated use from 1662), from Medieval Latin conceptualis, from Latin conceptus” a collecting, gathering, conceiving,” past participle of concipere. Related: Conceptualism; conceptualist. Etym. fidelity (n.) early 15c., “faithfulness, devotion,” from Middle French fidélité (15c.), from Latin fidelitatem (nominative fidelitas) “faithfulness, adherence.” Definition In health...
Etym. late 14c., from Late Latin confoederatus “leagued together,” past participle of confoederare “to unite by a league,” from com- “with, together.” Definition An individual(s) who, during the course of the clinical scenario, provides assistance locating and/or troubleshooting equipment. This individual(s) may provide support for participants in the form of ‘help available’, e.g. ‘nurse in...
Etym. cue (n.) “stage direction,” 1550s, from Q, which was used 16c., 17c. in stage plays to indicate actors’ entrances, probably as an abbreviation of Latin quando “when” or a similar Latin adverb. Definition To provide information during the simulation that helps the participant progress through the activity to achieve stated objectives (modified from National...
Etym. debrief “obtain information (from someone) at the end of a mission,” 1945, from de- + brief (v.). Related: Debriefed; debriefing. Definition (noun) A formal, collaborative, reflective process within the simulation learning activity. An activity that follows a simulation experience and led by a facilitator. (verb) To conduct a session after a simulation event where...
Etym. debrief “obtain information (from someone) at the end of a mission,” 1945, from de- + brief (v.). Related: Debriefed; debriefing. Definition The individual who facilitates a debriefing session and is knowledgeable and skilled in performing appropriate, structured, and psychologically safe debriefing sessions (Fanning & Gaba, 2007). The person who leads participants through the debriefing....
Etym. deliberate (adj.) 15th century Middle English, from Latin deliberatus, past participle of deliberare to consider carefully, perhaps alteration of *delibrare, from de- + libra scale, pound. Etym. practice (n.) 14th century Middle English practisen, from Middle French practiser, from Medieval Latin practizare, alteration of practicare, from practica practice, noun, from Late Latin practice, from...
Etym. determinism (n.) 1876 in general sense of “doctrine that everything happens by a necessary causation,” from French déterminisme; deterministic (adj.) 1874, from determinist (see determinism) + -ic. Definition Pertaining to a process, model, or variable whose outcome, result, or value does not depend on chance (Department of Defense Modeling and Simulation Glossary). Contrast with:...
Etym. discrete (adj.) mid-14c., “morally discerning, prudent, circumspect,” from Old French discret “discreet, sensible, intelligent, wise,” from Latin discretus “separated, distinct;” in Medieval Latin, “discerning, careful;” past participle of discernere “distinguish.” Meaning “separate, distinct” in English is late 14c. Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of...
Etym. distribute (v.) early 15c., “to deal out or apportion,” from Latin distributus, past participle of distribuere “to divide, distribute.” Related: Distributable; distributed; distributing. Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from...
‘‘Three separate, yet interdependent components of learning outcomes achievable by human learners. These domains: cognitive, affective, and psychomotor, represent various categories and levels of learning complexity and are commonly referred to as educational taxonomies.’’ (Bloom, 1956). Table 1: Comparison of Bloom’s original taxonomy (1956) and Bloom’s revised taxonomies with Quality and Safety Education for Nurses...
Etym. embed (v.) 1778, “to lay in a bed (of surrounding matter),” from em- (1) + bed (n.). Originally a geological term, in reference to fossils in rock; figurative sense is by 1835; meaning “place (a journalist) within a military unit at war” is from 2003 and the Iraq war. Related: Embedded; embedding. Etym. participant...
Etym. Evaluation (noun) mid 19th century: back-formation from evaluation, from French évaluer, from es- (from Latin ex- ) ‘out, from’ + Old French value ‘value.’ A broad term for appraising data or placing a value on data gathered through one or more measurements. It involves rendering a judgment, including strengths and weaknesses. Evaluation measures quality...
Etym. environmental (adj.) 1887, “environing, surrounding,” from environment + -al (1). Ecological sense by 1967. Related: Environmentally Etym. fidelity (n.) early 15c., “faithfulness, devotion,” from Middle French fidélité (15c.), from Latin fidelitatem (nominative fidelitas) “faithfulness, adherence, trustiness,” from fidelis “faithful, true, trusty, sincere,” from fides “faith.” From 1530s as “faithful adherence to truth or reality;”...
Etym. 1570s, “the consequence of anything” (as in in the event that); 1580s, “that which happens;” from Middle French event, from Latin eventus “occurrence, accident, event, fortune, fate, lot, issue,” from past participle stem of evenire “to come out, happen, result,” from assimilated form of ex- “out” + venire “to come.” Meaning “a contest or...
Etym. 1806, agent noun in Latin form from facilitate. Definition An individual who is involved in the implementation and/or delivery of simulation activities. For example, faculty, educators, etc. An individual that helps to bring about an outcome (such as learning, productivity, or communication) by providing indirect or unobtrusive assistance, guidance, or supervision. For example: The...
Etym. 1920, in the electronics sense, “the return of a fraction of an output signal to the input of an earlier stage,” from verbal phrase, from feed (v.) + back (adv.). Transferred use, “information about the results of a process” is attested by 1955. Definition An activity where information is relayed back to a learner;...
Etym. fiction (n.) something that is not true; something invented by the imagination or feigned; an assumption of a possibility as a fact irrespective of the question of its truth; a useful illusion or pretense; the action of feigning or of creating with the imagination. Etym. contract (n.) a binding agreement between two or more...
Etym. fidelity (n.) early 15c., “faithfulness, devotion,” from Middle French fidélité (15c.), from Latin fidelitatem (nominative fidelitas) “faithfulness, adherence, trustiness,” from fidelis “faithful, true, trusty, sincere,” from fides “faith.” From 1530s as “faithful adherence to truth or reality;” specifically of sound reproduction from 1878. Definition The degree to which the simulation replicates the real event...
Etym. From 1660s in the meaning “particular state” (as in Frame of mind, 1711). Frame of reference is 1897. Definition The perspectives through which individuals interpret new information and experiences for the purpose of decisionmaking; frames are formed through previous experiences and can be based on knowledge, attitudes, feelings, goals, rules, and/or perceptions. The mindset...
Etym. functional (adj.) 1630s, “pertaining to function or office,” from function (n.) + -al (1), or from Medieval Latin functionalis. Meaning “utilitarian” is by 1864. Related: Functionally; functionality. Etym. fidelity (n) early 15c., “faithfulness, devotion,” from Middle French fidélité (15c.), from Latin fidelitatem (nominative fidelitas) “faithfulness, adherence, trustiness,” from fidelis “faithful, true, trusty, sincere,” from...
Etym. guide (v.) late 14c., “to lead, direct, conduct,” from Old French guider “to guide, lead, conduct” (14c.), earlier guier, from Frankish *witan “show the way” or a similar Germanic source. Etym. reflection (n.) Of the mind, from 1670s. Meaning “remark made after turning back one’s thought on some subject” is from 1640s. Definition The...
Etym. (adj.) “pertaining to the sense of touch,” 1890, from Greek haptikos “able to come into contact with,” from haptein “to fasten.” Definition In health care simulation, refers to devices that providing tactile feedback to the user. Haptics can be used to simulate touching, palpating an organ, or body part, and the cutting, tearing, or...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition A technique that creates a situation or environment to allow persons to experience a representation of a real health care event for...
Etym. fidelity (n.) early 15c., “faithfulness, devotion,” from Middle French fidélité (15c.), from Latin fidelitatem (nominative fidelitas) “faithfulness, adherence, trustiness,” from fidelis “faithful, true, trusty, sincere,” from fides “faith.” From 1530s as “faithful adherence to truth or reality;” specifically of sound reproduction from 1878. Etym. simulator (n.) 1835, of persons, from Latin simulator “a copier,...
Etym. fidelity (n.) early 15c., “faithfulness, devotion,” from Middle French fidélité (15c.), from Latin fidelitatem (nominative fidelitas) “faithfulness, adherence, trustiness,” from fidelis “faithful, true, trusty, sincere,” from fides “faith.” From 1530s as “faithful adherence to truth or reality;” specifically of sound reproduction from 1878. Etym. simulation (n.) noun of action from past participle stem of...
Etym. factor (n.) Sense of “circumstance producing a result” is attested by 1816, from the mathematical sense. Definition The discipline or science of studying the interaction between humans and systems and technology; it includes, but is not limited to, principles and applications in the areas of human engineering, personnel selection, training, life support, job performance...
Etym. (n.) c. 1500, from Late Latin immersionem (nominative immersio), noun of action from past participle stem of immergere “to plunge in, dip into, sink, submerge,” from assimilated form of in- “into, in, on, upon” (see in- (2)) + Latin mergere “plunge, dip” (see merge). Meaning “absorption in some interest or situation” is from 1640s....
Etym. immersion. (n.) c. 1500, from Late Latin immersionem, noun of action from past participle stem of immergere “to plunge in, dip into, sink, submerge,” from assimilated form of in- “into, in, on, upon” (see in- (2)) + Latin mergere “plunge, dip” (see merge). Meaning “absorption in some interest or situation” is from 1640s. Etym....
Etym. incognito (adj./adv.) 1640s as both adjective (“disguised under an assumed name and character”) and adverb (“unknown, with concealed identity”), from Italian incognito “unknown,” especially in connection with traveling, from Latin incognitus “unknown, not investigated.” Etym. standard “authoritative or recognized exemplar of quality or correctness” (late 15c.). Meaning “rule, principal or means of judgment” is...
Etym. 1980s: Latin, literally ‘in silicon’ (with reference to the use of silicon chips in computer systems); on the pattern of in vitro and in vivo. Definition Performed on computer or via computer simulation; the phrase was coined in 1989 as an analogy to the Latin phrases in vivo, in vitro, and in situ (Sieburg,...
Etym. in situ 1740, Latin, literally “in its (original) place or position,” from ablative of situs “site.” Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition Taking place in the actual...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition Simulating a situation in which the outcome varies depending on human participation (Thomas). This allows humans to practice different sets of actions...
Etym. discipline (n.) directly from Latin disciplina “instruction given, teaching, learning, knowledge,” also “object of instruction, knowledge, science, military discipline,” from discipulus. Meaning “branch of instruction or education” is first recorded late 14c. Meaning “military training” is from late 15c.; that of “orderly conduct as a result of training” is from c. 1500. Definition Involving...
Etym. discipline (n.) directly from Latin disciplina “instruction given, teaching, learning, knowledge,” also “object of instruction, knowledge, science, military discipline,” from discipulus. Meaning “branch of instruction or education” is first recorded late 14c. Meaning “military training” is from late 15c.; that of “orderly conduct as a result of training” is from c. 1500. Etym. learning...
Etym. professional (n.) “one who does it for a living,” 1798, from professional (adj.).professional (adj.) 1747 of careers (especially of the skilled or learned trades from c. 1793). Related: profession. Definition Collaborating as a team with a shared purpose, goal, and mutual respect to deliver safe, quality health care (Freeth, Hammick, Reeves, et al., 2008;...
Etym. professional (n.) “one who does it for a living,” 1798, from professional (adj.).professional (adj.) 1747 of careers (especially of the skilled or learned trades from c. 1793). Related: profession. Etym. education (n.) 1530s, “childrearing,” also “the training of animals,” from Middle French education (14c.) and directly from Latin educationem (nominative educatio) “a rearing, training,”...
Etym. professional (n.) “one who does it for a living,” 1798, from professional (adj.).professional (adj.) 1747 of careers (especially of the skilled or learned trades from c. 1793). Related: profession. Definition The effective integration of professionals through mutual respect, trust, and support, from various professions, who share a common purpose to mold their separate skills...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition A method of training that is conducted directly prior to a potential intervention (Palaganas, Maxworthy, Epps, & Mancini, 2015). The training that...
Etym. live 1540s, “having life,” later (1610s) “burning, glowing,” a shortening of alive. Meaning “in-person” (of performance) is first attested 1934. Etym. virtual The meaning “being something in essence or effect, though not actually or in fact” is from mid-15c., probably via sense of “capable of producing a certain effect” (early 15c.). Computer sense of...
Etym. fidelity (n.) early 15c., “faithfulness, devotion,” from Middle French fidélité (15c.), from Latin fidelitatem (nominative fidelitas) “faithfulness, adherence, trustiness,” from fidelis “faithful, true, trusty, sincere,” from fides “faith.” From 1530s as “faithful adherence to truth or reality;” specifically of sound reproduction from 1878. Definition Not needing to be controlled or programmed externally for the...
Etym. 1560s, “jointed figure used by artists,” from Dutch manneken, literally “little man,” diminutive of Middle Dutch man. Definition A life-sized human like simulator representing a patient for health care simulation and education (Palaganas, Maxworthy, Epps, & Mancini, 2015). Full or partial body representation of a patient for practice. Full or partial body simulators that...
Etym. manikin. 1560s, “jointed figure used by artists,” from Dutch manneken, literally “little man,” diminutive of Middle Dutch man. Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition The use of...
Etym. 1902, “model to display clothes,” from French mannequin. A French form of the same word that yielded manikin, and sometimes mannequin was used in English in a sense “artificial man” (especially in translations of Hugo). Originally of persons, in a sense where we might use “model.” See: MANIKIN See also: SIMULATOR
Etym. manual (adj.) c. 1400, from Latin manualis “of or belonging to the hand; that can be thrown by hand,” from manus “hand, strength, power over; armed force; handwriting.” Etym. input Middle English verb (late 14c.) meaning “to put in, place, set.” Definition The method of operation in which an operator inputs a value to...
Etym. mastery (adj.) early 13c., mesterie, “condition of being a master,” also “superiority, victory;” from Old French maistrie, from maistre “master” (n.). Meaning “intellectual command” (of a topic, etc.) is from 1660s. Etym. learning (n.) Old English leornung “learning, study,” from leornian. Definition An instructional philosophy originally proposed by Benjamin Bloom that stated a student...
Etym. reality (n.) 1540s, “quality of being real,” from French réalité and directly Medieval Latin realitatem (nominative realitas), from Late Latin realis. Meaning “real existence, all that is real” is from 1640s; that of “the real state (of something)” is from 1680s. Definition The use of a technology such as video, augmented reality, or virtual...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Etym. method (n.) early 15c., “regular, systematic treatment of disease,” from Latin methodus “way of teaching or going,” from Greek methodos “scientific inquiry,...
Etym. mobile (adj.) late 15c., from Middle French mobile (14c.), from Latin mobilis “movable, easy to move; loose, not firm,” “pliable, flexible. contraction of *movibilis, from movere “to move.” Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of...
Etym. 1610s, from Old French modalité or directly from Medieval Latin modalitatem (nominative modalitas) “a being modal,” from modalis. 1560s, term in logic, from Middle French modal and directly from Medieval Latin modalis “of or pertaining to a mode,” from Latin modus “measure, manner, mode.” Definition A term used to refer to the type(s) of...
Etym. Sense of “thing or person to be imitated” is 1630s. Definition A representation of an object, concept, event, or system; models can be physical models, computational models, or theories of function (Sokolowski, 2011).
Etym model sense of “thing or person to be imitated” is 1630s. Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition The terms modeling and simulation are often used interchangeably. An...
Etym. Monte Carlo fallacy 1957, named for resort in Monaco famous for its gambling casinos. The fallacy of thinking that the probability of a particular outcome rises with the successive number of opposite outcomes. Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model...
Etym. (n.) From the French: casting/moulding. Definition The makeup and molds applied to humans or manikins used to portray lesions, skin findings, bleeding, and traumatized areas (Levine et al., 2013). The application of makeup and molds to a human or simulator’s limbs, chest, head, etc. to provide elements of realism (such as blood, vomitus, open...
Etym. discipline (n.) directly from Latin disciplina “instruction given, teaching, learning, knowledge,” also “object of instruction, knowledge, science, military discipline,” from discipulus. The Latin word is glossed in Old English by þeodscipe. Meaning “branch of instruction or education” is first recorded late 14c. Meaning “military training” is from late 15c.; that of “orderly conduct as...
Etym. modality. 1610s, from Old French modalité or directly from Medieval Latin modalitatem (nominative modalitas) “a being modal,” from modalis. 1560s, term in logic, from Middle French modal and directly from Medieval Latin modalis “of or pertaining to a mode,” from Latin modus “measure, manner, mode.” Etym. simulation (n.) noun of action from past participle...
Etym. techno word-forming element meaning “art, craft, skill,” later “technical, technology,” from Latinized form of Greek tekhno-, combining form of tekhne “art, skill, craft in work; method, system, an art, a system or method of making or doing.” Etym. skill (n.) late 12c., “power of discernment,” from Old Norse skil “distinction, ability to make out,...
Definition An approach to the assessment of clinical or professional competence in which the components of competence are assessed in a planned or structured way with attention being paid to the objectivity of the examination (Harden, 1988). A station or series of stations designed to assess performance competency in individual clinical or other professional skills....
Etym. operation (n.) late 14c., “action, performance, work,” also “the performance of some science or art,” from Old French operacion “operation, working, proceedings,” from Latin operationem (nominative operatio) “a working, operation,” from past participle stem of operari “to work, labor.” Military sense of “series of movements and acts” is from 1749. Etym. specialty (n.) From...
Etym. (n.) 1839, originally “arrangement of a building, etc., to face east or any other specified direction,” noun of action from orient (v.). Sense of “action of determining one’s bearings” is from 1868. Meaning “introduction to a situation” is from 1942. Definition The process of giving participants information prior to a simulation event to familiarize...
Etym. 1560s, from Middle French participant, from Latin participantem (nominative participans), present participle of participare “to share in, partake of” from particeps “sharing, partaking.” Definition In health care simulation, a person who engages in a simulation activity for the purpose of gaining or demonstrating mastery of knowledge, skills, and/or attitudes of professional practice (Meakim et...
Etym. physical early 15c., “of or pertaining to material nature” (in medicine, opposed to surgical), from Medieval Latin physicalis “of nature, natural,” from Latin physica “study of nature” (see physic). Meaning “pertaining to matter” is from 1590s; meaning “having to do with the body, corporeal” is attested from 1780. Meaning “characterized by bodily attributes or...
Etym. physiology (n.) 1560s, “study and description of natural objects,” from Middle French physiologie or directly from Latin physiologia “natural science, study of nature,” from Greek physiologia “natural science, inquiry into nature,” from physio- “nature” + logia “study.” Meaning “science of the normal function of living things” is attested from 1610s. Related: Physiologic; physiologist. Etym...
Etym. portable (adj.) Early 15c., from French portable “that can be carried,” from Late Latin portabilis “that can be carried,” from Latin portare “to carry.” Related: Portability. Etym. simulator (n.) 1835, of persons, from Latin simulator “a copier, feigner,” agent noun from simulare “imitate,” from stem of similis “like.” In reference to training devices for...
Etym. brief “fact or situation of giving preliminary instructions,” 1910 (but popularized by World War II pre-flight conferences). Definition An information or orientation session held prior to the start of a simulation activity in which instructions or preparatory information is given to the participants. The purpose of the prebriefing is to set the stage for...
Etym. scenario (n.) 1868, “sketch of the plot of a play,” from Italian scenario, from Late Latin scenarius “of stage scenes,” from Latin scena “scene.” Meaning “imagined situation” is first recorded 1960, in reference to hypothetical nuclear wars. Definition A method of operation in which the simulator is programmed to be in one state and...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition The use of a simulation modality (for example, task trainer, manikin, computer) to assist in the process of learning to complete a...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition A simulation in which the process is considered more important than the outcome. For example, a model of a radar system in...
Etym. prop (n.) “object used in a play,” 1898, from props (1841), shortened form of properties (which was in theatrical use from early 15c.). Definition In simulation, an element or accessory used in a given scenario to enhance realism, or to provide a cue to learners. A physical object used as an interface to a...
Etym. psychology (n.) 1650s, “study of the soul,” from Modern Latin psychologia, probably coined mid-16c. in Germany by Melanchthon from Latinized form of Greek psykhe- “breath, spirit, soul” + logia “study of.” Meaning “study of the mind” first recorded 1748, from Christian Wolff’s “Psychologia empirica” (1732); main modern behavioral sense is from early 1890s. Etym....
Note: this term often used synonymously with fidelity but not all agree these are the same Etym. realism (n.) 1794, from real (adj.) + -ism; after French réalisme or German Realismus; from Late Latin realis “real.” Meaning “close resemblance to the scene” (in art, literature, etc., often with reference to unpleasant details) is attested from...
Etym. reflection (n.) Of the mind, from 1670s. Meaning “remark made after turning back one’s thought on some subject” is from 1640s. Definition The engagement of self-monitoring that occurs during or after a simulation experience; this self-monitoring is performed by participants during or after a simulation experience. A process to assist learners in identifying their...
Etym. role (n.) “part or character one takes,” c. 1600, from French rôle “part played by a person in life,” literally “roll (of paper) on which an actor’s part is written,” from Old French rolle. Etym. player (n.) Old English plegere, agent noun from play (v.). Stage sense is from mid-15c. Definition One who assumes...
Definition The method of operation for running a simulation whereby the operator changes the parameters of the scene, the standardized patient, or the simulator as the scenario unfolds; the changes are dependent on the observations and knowledge of the instructor or the operator, which is based on the actions of the participant. Running a simulation...
Etym. safe (adj.) not able or likely to be hurt or harmed in any way; not in danger. Etym. environment (n.) the conditions that surround someone or something; the conditions and influences that affect the growth, health, progress, etc., of someone or something. Definition A learning environment where it is clarified that learners feel physically...
Etym. (n.) 1868, “sketch of the plot of a play,” from Italian scenario, from Late Latin scenarius “of stage scenes,” from Latin scena “scene.” Meaning “imagined situation” is first recorded 1960, in reference to hypothetical nuclear wars. Definition In health care simulation, a description of a simulation that includes the goals, objectives, debriefing points, narrative...
Etym. screen (n.) Meaning “flat vertical surface for reception of projected images” is from 1810, originally in reference to magic lantern shows; later of movies. Related screenshot (n.) by 1991, from (computer) screen (n.) + shot (n.) in the photograph sense. Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from...
Etym. special use of Latin scriba “keeper of accounts, secretary, writer,” from past participle stem of scribere “to write.” Sense “one who writes, official or public writer” in English is from late 14c. Definition The act of making notes about a scenario and documenting the actions taken or not taken.
Etym. (n.) late 14c., “something written.” Meaning “handwriting” is recorded from 1860. Theatrical use, short for manuscript, is attested from 1884. Definition The written plan for a simulation event that includes various sets of topics, subtopics, skills, and triggers that will create the situation to induce the desired observable behaviors by the participant(s). A preordained...
Etym. serious (adj.) mid-15c., “expressing earnest purpose or thought” (of persons), from Middle French sérieux “grave, earnest” (14c.), from Late Latin seriosus, from Latin serius “weighty, important, grave.” Gothic…..”honored, esteemed,” literally “weighty.” Meaning “attended with danger” is from 1800. Etym. games (n.) 1200, from Old English gamen “joy, fun; game, amusement,” “participation, communion.” “contest for...
Etym. share (n.) (v.) 1580s, “to apportion to someone as his share; to apportion out to others; to enjoy or suffer (something) with others,” from share. Meaning “to divide one’s own and give part to others” is recorded from 1590s. Related: Shared, sharer, sharing Etym. mental (adj.) early 15c., “pertaining to the mind,” from Middle...
Etym. simulated (adj.) 1620s, “feigned,” past participle adjective from simulate (v.). Meaning “imitative for purposes of experiment or training” is from 1966; commercial jargon, “artificial, imitation” by 1942. Etym. learning (n.) Old English leornung “learning, study,” from leornian. Learning curve attested by 1907. Etym. experience (v.) 1530s, “to test, try, learn by practical trial or...
Etym. simulated (adj.) 1620s, “feigned,” past participle adjective from simulate (v.). Meaning “imitative for purposes of experiment or training” is from 1966; commercial jargon, “artificial, imitation” by 1942. Definition A person who portrays a patient (simulated patient), family member, or health care provider in order to meet the objectives of the simulation; a simulated person...
Etym. simulated (adj.) 1620s, “feigned,” past participle adjective from simulate (v.). Meaning “imitative for purposes of experiment or training” is from 1966; commercial jargon, “artificial, imitation” by 1942. Etym. synthetic (adj.) 1690s, as a term in logic, “deductive,” from French synthétique (17c.) and directly from Modern Latin syntheticus, from Greek synthetikos “skilled in putting together,...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition A technique that creates a situation or environment to allow persons to experience a representation of a real event for the purpose...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition The entire set of actions and events from initiation to termination of an individual simulation event; in the learning setting, this is...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Etym. education (n.) the action or process of teaching someone especially in a school, college, or university; the knowledge, skill, and understanding that...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Etym. synthetic (adj.) 1690s, as a term in logic, “deductive,” from French synthétique (17c.) and directly from Modern Latin syntheticus, from Greek synthetikos...
Note: the term fidelity is often used synonymously with realism but not all agree these are the same Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition The level of realism...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition A recommendation of the qualities for simulation fidelity, simulation validity, simulation program, or for formative or summative evaluation (Society for Simulation in...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition An individual who is involved in the design, implementation, and/or delivery of simulation activities; for example, educators, technologists, operations specialists, technicians (Society...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Etym. reliable (adj.) 1560s, raliabill, Scottish; see rely + -able. Definition The consistency of a simulation activity, or the degree to which a...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition A statement of the minimum requirements for simulation fidelity, validity, formative or summative evaluation, or any other element related to a simulation...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition A context for formative or summative evaluation of an individual´s or team´s performance. The goals of the simulation testing environment are to...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition A simulation’s internal representation of time; simulation time may accumulate faster, slower, or at the same pace as real time. A time...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition The degree to which a model or simulation accurately represents or measures what it intends to measure. In health care simulation, the...
Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of similis “like.” Meaning “a model or mock-up for purposes of experiment or training” is from 1954. Definition A setting, device, computer program or system that performs simulation (Hancock et al, 2008). Any object or representation used during training or...
Etym. situate (v.) early 15c., “to place in a particular state or condition,” from Medieval Latin situatus, past participle of situare “to place, locate,” from Latin situs “a place, position” (see site). Related: Situated; situating, situation (n.). Etym. learning (n.) Old English leornung “learning, study,” from leornian (see learn). Learning curve attested by 1907. Definition...
Etym. situate (v.) early 15c., “to place in a particular state or condition,” from Medieval Latin situatus, past participle of situare “to place, locate,” from Latin situs “a place, position” (see site). Related: Situated; situating, situation (n.). Etym. awareness (n.) 1828, from aware + -ness. Late Old English gewær, “wary, cautious.” Definition Situation awareness (SA)...
Note: this term is often synonymous with Simulated Patient Etym. standard – “authoritative or recognized exemplar of quality or correctness” (late 15c.). Meaning “rule, principal or means of judgment” is from 1560s. That of “definite level of attainment” is attested from 1711 (as in standard of living, 1903). Etym. patient – (n.) “suffering or sick...
Note: the term Standardized Patient is often synonymous with Simulated Patient Etym. standard (n.) “authoritative or recognized exemplar of quality or correctness” (late 15c.). Meaning “rule, principal or means of judgment” is from 1560s. That of “definite level of attainment” is attested from 1711 (as in standard of living, 1903). Etym. patient (n.) “suffering or...
Etym. Meaning “physical condition as regards form or structure” is attested from late 13c. Meaning “mental or emotional condition” is attested from 1530s (phrase state of mind first attested 1749). Definition A term used when programming manikins; state variables may include vital signs, monitor readings, body sounds, and verbalizations made by the simulator. [pleural] A...
Etym. (adj.) 1660s, “pertaining to conjecture,” from Greek stokhastikos “able to guess, conjecturing,” from stokhos “a guess, aim, target, mark,” literally “pointed stick set up for archers to shoot at;” the sense of “randomly determined” is from 1934, from German stochastik (1917). Definition Pertaining to a process, model, or variable whose outcome, result, or value...
Etym. synthetic (adj.) 1690s, as a term in logic, “deductive,” from French synthétique (17c.) and directly from Modern Latin syntheticus, from Greek synthetikos “skilled in putting together, constructive,” from synthetos “put together, constructed, compounded,” past participle of syntithenai “to put together” (see synthesis). Related: Synthetical (1620s in logic). Etym. learning (n.) Old English leornung “learning,...
Etym. task (n.) early 14c., “a quantity of labor imposed as a duty,” from Old North French tasque (12c., Old French tasche, Modern French tâche). General sense of “any piece of work that has to be done” is first recorded 1590s. Etym. trainer (n.) c. 1600, “one who educates or instructs,”agent noun from train (v.)....
Etym. team (n.) applied in Old English to groups of persons working together for some purpose, especially “group of people acting together to bring suit;” modern sense of “persons associated in some joint action” is from 1520s. Team spirit is recorded from 1928. Team player attested from 1886, originally in baseball. Etym. learning (n.) Old...
Etym. technical (adj.) 1610s, “skilled in a particular art or subject,” formed in English from technic + al (1), or in part from Greek tekhnikos “of art; systematic,” in reference to persons “skillful, artistic,” from tekhne “art, skill, craft.” The sense narrowed to “having to do with the mechanical arts” (1727). Etym. skills (n.) late...
Etym. techno – word-forming element meaning “art, craft, skill,” later “technical, technology,” from Latinized form of Greek tekhno-, combining form of tekhne “art, skill, craft in work; method, system, an art, a system or method of making or doing.” Etym. simulation (n.) noun of action from past participle stem of simulare “imitate,” from stem of...
Etym. trigger (n.) “device by means of which a catch or spring is released and a mechanism set in action.” Definition An event or events that move the simulation from one state to another.
Etym. typology (n.) “doctrine of symbols,” 1845, from Greek typos. Related: Typological; typologically Definition The classification of different educational methods or equipment; for example, 3-dimensional models, computer software, standardized patients, partial-task trainers, or high-fidelity patient simulators (Meakim et al., 2013). See also: MODALITY, SIMULATED/SYNTHETIC LEARNING METHOD
Etym. virtual (adj.) The meaning “being something in essence or effect, though not actually or in fact” is from mid-15c., probably via sense of “capable of producing a certain effect” (early 15c.). Computer sense of “not physically existing but made to appear by software” is attested from 1959. Etym. patient (n.) “suffering or sick person...
Etym. virtual (adj.) The meaning “being something in essence or effect, though not actually or in fact” is from mid-15c., probably via sense of “capable of producing a certain effect” (early 15c.). Computer sense of “not physically existing but made to appear by software” is attested from 1959. Etym. reality (n.) 1540s, “quality of being...
Etym. virtual (adj.) The meaning “being something in essence or effect, though not actually or in fact” is from mid-15c., probably via sense of “capable of producing a certain effect” (early 15c.). Computer sense of “not physically existing but made to appear by software” is attested from 1959. Etym. reality (n.) 1540s, “quality of being...
Etym. virtual (adj.) The meaning “being something in essence or effect, though not actually or in fact” is from mid-15c., probably via sense of “capable of producing a certain effect” (early 15c.). Computer sense of “not physically existing but made to appear by software” is attested from 1959. Etym. reality (n.) 1540s, “quality of being...
Etym. virtual (adj.) The meaning “being something in essence or effect, though not actually or in fact” is from mid-15c., probably via sense of “capable of producing a certain effect” (early 15c.). Computer sense of “not physically existing but made to appear by software” is attested from 1959. Etym. simulation (n.) noun of action from...
Data that have been combined in collective or summary form
Short for application program, which is a software program designed to perform a specific function directly for the user or, in some cases, for another software program. Examples of applications include database programs, word processors, and graphics tools.
The process of bringing data or functions from one application together with those of another application using real-time or near real-time communication. Integration involves the ability to use interfaces employed by different applications.
The specific method specified by a computer operating system or program through which a programmer can make requests to the operating system of another application. An API can be differentiated with a graphical user interface (GUI) or a command interface, which are direct user interfaces to an operating system or a program (see also graphical...
A collection of computer files that have been packaged together for backup, for transfer to some other location, for saving away from the computer so that more hard disk storage can be made available, or for some other purpose. An archive can include a simple list of files or files organized under a directory or...
A strategic approach to managing transportation infrastructure. Asset Management requires integrated data and information to make comprehensive decisions regarding assets.
Data items containing the lowest level of detail. For example, in a daily maintenance activity report, the individual equipment used would be atomic data, while rollups like summary totals from equipment rental invoices are aggregate data (see also aggregate data).
A request initiated by a user to access a database for which he or she does not have access privileges. The criteria used to evaluate this request are called the “authorization rule.”
A computer-based procedure designed to move large data files. The procedure usually involves data compression, blocking, or buffering to maximize data transfer rates.
A group of activities that takes one or more types of inputs to produce an output that is of value to customers. For example, pavement repair is a business process consisting of several tasks using agency labor, materials, and equipment to restore the smoothness of the roadway.
The reexamination and redesign of business processes with the aim of achieving significant improvements in system performance measures such as cost, quality, safety, and reliability.
A set of conventions that governs the communications between processes. These conventions specify the format and content of messages to be exchanged and allow different computers using different software to communicate.
A class of software that provides a controlled development environment for computer programming teams. CASE systems offer tools to automate, manage, and simplify the program development process. These tools can include software for summarizing initial requirements, developing data flow diagrams, scheduling development tasks, preparing documentation, controlling software versions, and developing program code. While many CASE...
A group of two or more computer systems linked together for the purpose of communications or application distribution. There are many types of computer networks, including local area networks (LANs)—made up of computers that are geographically close, and wide area networks (WANs)—where computers are farther apart and are connected by telephone lines or radio waves...
A computer network that spans a relatively small area. Most LANs are confined to a single building or group of buildings, and connect workstations and personal computers. Each individual computer or node in a LAN has its own central processing unit with which it executes programs, but it is also able to access shared data...
A computer network that spans a relatively large geographical area. Typically, a WAN consists of two or more LANs. Computers connected to a WAN are often connected through public networks such as the telephone system. They can also be connected through leased lines or satellites. The largest WAN in existence is the Internet.
Structural design that defines a computer network’s general characteristics as well as its precise mechanisms. In broad terms, a computer network can have open or closed architecture. Open architectures allow the system to be connected easily to devices and programs made by other manufacturers. Open architectures use off-the-shelf components and conform to approved standards (see...
A computer network architecture in which each computer or process on the network is either a client or a server. “Servers” are powerful computers or processes dedicated to managing disk drives (file servers), printers (print servers), or network traffic (network servers). “Clients” are personal computers or workstations on which users run applications. Clients rely on...
A type of network architecture in which each node has equivalent responsibilities rather than being exclusively a client or a server.
A proprietary but published two-dimensional graphics file format supported by virtually all PC-based computer-aided design (CAD) products. It is now a de facto standard for exchanging graphics data.
The process of reading one or more sources of data and creating a new representation of the data.
The process of combining or linking two or more data sets from various sources to facilitate data sharing, promote effective data gathering and communication, and support overall information management activities in an organization (see also data warehouse and interoperable database).
The degree or means by which the data in a database conform to specified data standards. For example, to maintain integrity, the numeric fields in a database will not accept alphabetic data.
The process of assigning a source data element to a target data element.
The process of converting data from one format to another. Data migration is necessary when an organization decides to use a new computing system or database management system that is incompatible with the current system. Typically, data migration is performed by a set of customized programs or scripts that automatically transfer the data. Data migration...
The process of extracting previously unknown, valid, and actionable information or relationships from large databases and using that information to make important decisions.
A method used to define and analyze data requirements needed to support the business processes of an organization. The data requirements are recorded as a conceptual data model with associated data definitions. Actual implementation of the conceptual model is called a logical data model. To implement one conceptual data model may require multiple logical data...
The process of physically or logically dividing data into segments so it can be easily maintained or accessed. Existing relational database management systems provide this kind of distribution functionality.
A diagram that shows the types of data produced by one business process and used as input by another. It also refers to a representation of the flow of data into, out of, and between procedures, systems, or subsystems. Data flow diagrams show the actual flow of data between designed business activities and data stores,...
The process of filtering, merging, decoding, and translating source data to create validated data for the data warehouse (see definition).
A diagram type that is used to depict the structure of data elements in the data dictionary. The data structure diagram is a graphical alternative to the composition specifications within such data dictionary entries.
A collection of databases designed to support management decision-making. The term “data warehousing” generally refers to combining a wide variety of databases across an entire organization. Development of a data warehouse includes development of systems to extract data from operating systems plus installation of a warehouse database system that provides users flexible access to the...
A repository for information or data organized in such a way that a computer program can quickly select desired pieces of data. Databases are often indexed so they may be searched more efficiently. Traditional databases are organized by fields, records, and files. A field is a single piece of information; a record is one complete...
The person who has central control over data and programs accessing the data. Responsibilities of the database administrator include data structure definition, storage and access methods specification, schema and physical organization modification, granting of authorization for data access, and integrity constraint specification. In highway agencies, the database administrator usually belongs to the information systems division,...
A file that defines the basic organization of a database. A database dictionary contains a list of all files in the database, the number of records in each file, and the names and types of each data field. Most database management systems keep the data dictionary hidden from users to prevent them from accidentally destroying...
A collection of programs that enables information to be stored in, modified, and extracted from a database. There are many different types of DBMSs, ranging from small systems that run on personal computers to huge systems that run on mainframes. From a technical standpoint, the systems can differ widely. The terms relational, network, flat, and...
The structure or format of a database, described in a formal language supported by the database management system. Schemas are generally stored in a data dictionary. Although a schema is defined in text database language, the term is often used to refer to a graphical depiction of the database structure. The following database models are...
A file structure involving data records that have no structured interrelationship. A flat file takes up less computer space than a structured file but requires the database application to know how the data are organized within the file.
A data model that links records together like a family tree, but each record type has only one owner (e.g., a purchase order is owned by only one customer). Hierarchical data structures were widely used in the first mainframe database management systems. However, due to their restrictions, they often cannot be used to relate structures...
A special case of the hierarchical data model in which each record type can have multiple owners (e.g., purchase orders are owned by both customers and products).
Data items organized as a set of formally described tables from which data can be accessed or reassembled in many ways without having to reorganize the database tables. Each table (sometimes called a relation) contains one or more data categories in columns. Each row contains a unique instance of data for the categories defined by...
Defines a data object as containing code (sequences of computer instructions) and data (information that the instructions operate on). Traditionally, code and data have been kept apart. In an object-oriented data model, the code and data are merged into a single indivisible thing—an object.
A request for information from a database. There are three general methods for posing queries: (1) Choosing parameters from a menu: In this method, the database system presents a list of parameters from which to choose. This is perhaps the easiest way to pose a query because the menus provide guidance, but it is also...
The process of duplicating a portion of a database from one environment to another and keeping the data in other environments consistent with the data in the source database.
Often used interchangeably to refer to hardware or software. Both uses pertain to the same principle—a database architecture prepared to receive requests from a third party, or client, and respond to those requests by delivering a particular type of information. In either case, appropriate software is the core of the system. Referring to a piece...
A generic term used to refer to a computer system or software that supports data analysis, reporting, and other data processing capabilities to help an organization or enterprise (see definition of enterprise) make informed decisions.
An information processing and analysis tool that accesses or queries the source database or data warehouse across a network using an appropriate database interface. The desktop application manages the human interface between data sources and data users.
A database that consists of two or more data files located at different sites on a computer network. Because the database is distributed, different users can access it without interfering with one another (see also interoperable database). In transportation agencies, distributed databases enable multiple individuals in separate locations to run different applications using the same...
Keeping track of stored documents that are either (1) created by a computer using word processing, spreadsheet, or other software; (2) scanned into a computer and converted to computer code by optical character recognition software; or (3) scanned into a computer and saved in a computer image format. Document management systems provide the ability to...
A method of modeling linear features for various applications including highway analysis. Dynamic segmentation is a process for determining the locations of events on linear features (e.g., highway segments) at run time, straight from the tables of features for which distance measures are available and without changing the underlying data structure. For transportation infrastructure management,...
An organizational unit or entity made up of business functions, divisions, or other components that perform various responsibilities to achieve a common objective. The terms “enterprise database” and “enterprise modeling” are used, respectively, to describe data and the method used to understand their relationships across an enterprise environment.
Refers to extraction, transformation, and loading of data from enterprise resource planning (ERP) (see below) systems to other data sources. Software tools that perform this function are generally batch or point-in-time products designed for initial or ongoing loading of data warehouses.
An integrated, technology-driven approach to managing enterprise resources, whether they are cash, raw materials, or personnel. ERP is a strategic tool to help an organization integrate all its business processes and data.
In programming, engineering, and many other contexts, “entity” is used to refer to units, whether concrete things or abstract ideas, that have no specific names. One can draw something and refer to that drawing as the representation of an entity.
A design tool that graphically expresses the database’s overall logical structure by representing data entities, their cardinality relationships (e.g., one-to-one, one-to-many, etc.), and the linkages that connect them. The construction of an ER diagram is essential for the design of database tables, extracts, and metadata (see definition of metadata). ER diagrams are especially important in...
A computerized system or tool programmed to provide predefined reports or summary information to chief administrators or high-level executives. An EIS provides powerful information reporting and drill-down capabilities, including ad hoc querying and other analytical processing functions.
The ability to incorporate new functionality in existing database systems without making major software changes or redefining the basic system architecture.
A computer-based tool used to gather, transform, manipulate, analyze, and produce information related to the surface of the earth. This data may exist as maps, three-dimensional models, tables, or lists. A GIS can be as complex as a whole system that uses dedicated databases and workstations hooked up to a network, or as simple as...
A computer program interface that takes advantage of a computer’s graphics capabilities to make a program easier to use. Well-designed GUIs can free the user from learning complex command languages, as well as make it easier to move data from one application to another. A true GUI includes standard formats for representing text and graphics....
An information systems framework that describes: (1) business rules—functions a business performs and the information it uses; (2) system structure—definitions and interrelationships between applications and the products, (3) technical specifications— the interfaces, parameters, and protocols used by the product and applications; and (4) product specifications— standards pertaining to the elements of the technical specifications and...
Also called “federated database.” A collection of autonomous and possibly heterogeneous database systems over multiple sites that are connected through a communications network (see also distributed database).
An object-oriented computer programming language (see also object-oriented programming) based on C++ but without many of its rarely used features. Java was designed to support applications on networks with a variety of computer processing and operating system architectures, making the compiled Java applications executable anywhere on many processors on the network. Java is ideal for...
An older computer system or application program that an agency continues to use. Many legacy systems are unable to meet the changing business processes of organizations, thereby presenting a significant challenge for data integration.
Also called “data mart.” A database that serves individual systems and workgroups as the end point for shared data distribution. LADs are the “retail outlets” of data warehouse networks. They provide direct access to the data requested by specific systems or desktop query services. Data are propagated to LADs from data warehouses according to orders...
A system for storing, maintaining, and retrieving location information. One technique is to locate a specific position with respect to a known point. While spatial features are typically located using planar (two-dimensional) referencing systems like geographic coordinates, many transportation features—roads, bridges, and other structures—are located using linear (one-dimensional) referencing systems including the route-milepost system. A...
A mechanism that keeps the specific physical address of data or an object unknown to the user. This is done by resolving the location of the data within the system so that operations on the data can be performed without knowledge of its actual physical location.
Information that describes or characterizes data. Metadata are used to provide documentation for data products. In essence, metadata answer the who, what, when, where, why, and how about every facet of the data that are being collected and documented.
A small subset of a data warehouse used by a small number of users. The mini mart is a very focused slice of a larger data warehouse.
Acronym for “millions of instructions per second.” MIPS is sometimes mistakenly considered a relative measure of processing capability among computer models and products, but it is a meaningful measure only among versions of the same computer processors configured with identical peripherals and software.
A type of database that is optimized for data warehousing and online analytical processing (OLAP) applications (see online analytical processing). Multidimensional databases are frequently created using input from existing relational databases. MDB denotes the ability to process the data in the database quickly so that answers can be generated immediately.
A method in which programmers define not only the type of data structure, but also the types of operations (functions or procedures) that can be applied to the data structure. In this way, the data structure becomes an object that includes both data and functions. In addition, programmers can create relationships between one object and...
A category of software tools that provides analysis of data stored in a database. OLAP tools enable users to analyze different dimensions of multidimensional data. For example, it provides time-series and trend-analysis views. The chief component of OLAP is the OLAP server, which sits between a client and a database management system. The OLAP server...
A type of computer processing in which the computer responds immediately to user requests. Each request is considered to be a transaction. Automatic teller machines are examples of transaction processing. The opposite of transaction processing is batch processing, in which a batch of requests is stored and then executed all at one time. Transaction processing...
A standard database access method developed to make it possible to access any data from any application, regardless of which database management system (DBMS) (see definition) is handling the data. ODBC does this by inserting a middle layer, called a database driver, between a database application and the DBMS. The purpose of the driver is...
A computing environment that allows users to access and utilize data and software across multiple platforms. Incompatible hardware platforms, operating systems, and other application software are tied together through the use of industry-standard system components. An open systems environment facilitates systems integration by creating the means for resource sharing in an environment in which hardware,...
The computer industry standard network protocol or model for computer-to-computer communications. Developed by the International Standards Organization, OSI consists of seven layers or modules arranged in a hierarchy (see below) with each layer performing a function that is dependent on the more elementary (lower) layer. The system is “open” in the sense that layers are...
A software development process whose purpose is to evaluate the suitability of a potential application for production.
A method of building computer systems in which the system is programmed and implemented in segments, rather than waiting until the entire project is completed for implementation. RAD uses such tools as CASE (see Computer Aided Software Engineering Tools) and visual programming (see definition).
A degree of computer responsiveness that a user considers to be adequately immediate or that allows the computer to keep pace with some external process.
A collection of data items arranged for processing by a program. Multiple records are contained in a file or data set. The organization of data in the record is usually prescribed by the programming language that defines the record’s organization or by the application that processes it. Typically, records can be of fixed or variable...
The storage of multiple copies of identical data. The process of limiting excessive copying, update, and transmission costs associated with redundant data is called “redundancy control.” Database replication (see definition) is a strategy for redundancy control with the intention to improve system performance. “Redundancy” may also be used to refer to backup systems that take...
A database or database management system that stores information in tables—rows and columns of data—and conducts searches by using data in specified columns of one table to find additional data in another table. In a relational database, the rows of a table represent records (collections of information about separate items) and the columns represent fields...
A central place in which databases are stored and maintained in an organized way. A repository may be directly accessible to users or it may be a place from which specific databases, files, or documents are obtained for further relocation or distribution in a network.
Also called “data reengineering.” Allows the user to capture physical models of legacy and production systems and relate each attribute in the data model to the database(s), table(s), and column(s) from which it is derived. Data reengineering is suitable for organizations that need to augment an existing system, particularly if the system requires new database...
The ability to change size to support larger or smaller volumes of data and more or fewer users with minimal impact on the unit cost of business and the procurement of additional services.
Any information about the location, shape, and relationships of geographic features. For highways this includes the relative locations and distances of transportation infrastructure.
Statements of fact, quality, procedures, or content, to which applicable data entities are compared for purposes of acceptance or use. Standards are documented agreements used to justify decisions, implement policy, and ensure that data processes, products, or services meet their intended purpose. Using common standards increases the shareability, reliability, and effectiveness of data. Many different...
A set of structured query language (SQL) statements (see definition of structured query language) that is stored in the database with an assigned name and in compiled form so it can be shared by a number of programs. The use of stored procedures can be helpful in controlling access to data (end users may enter...
A standardized language for querying information from a database. SQL was first introduced as a commercial database system in 1979 and has since been the favorite query language for database management systems running on minicomputers and mainframes. Increasingly, however, SQL is being supported by PC database systems because it supports distributed databases (see definition of...
An individual responsible for maintaining a multiuser computer system such as a computer network. The duties of the system administrator typically include adding and configuring new workstations, establishing user accounts, installing system-wide software, performing computer virus protection procedures, and allocating computer storage space. The system administrator is often called the “sysadmin.” Small organizations usually have...
The database in which data will be loaded or inserted.
A standard analysis and design language created to assist in modeling complex software systems by using a common object-oriented notation. UML is rapidly becoming the de facto standard for describing and sharing system design data. Many software vendors have chosen UML as their notation for repository (see definition of repository) products to aid in sharing...
A methodology used in systems analysis to identify, explain, and organize system requirements. It is made up of a set of likely sequences of interactions between systems and users in a specific environment and associated with a particular goal. Use cases can be applied at various stages of software development including planning, software design, development,...
The maintenance and storage of previous copies of a piece of information for security, diagnostics, and other interests. Versioning also pertains to the ability to create and manage different versions of the same information.
Sometimes used to describe databases occupying magnetic storage in the terabyte (1 trillion bytes) range and containing billions of table rows. Typically, these are decision-support systems or transaction processing applications serving a large number of users.
A programming language that uses, partially or entirely, visual representations such as graphics, icons, drawings, and animation. A visual language handles visible information, supports visual interaction, and allows programming of visual expressions.
Based on the concept that business processes are actually sets of tasks done in a prescribed order (workflow) that combines information from various sources. Workflow management focuses on managing the flow of information as it is processed, shared, manipulated, and compiled from one participant to another in a way that is governed by rules or...
To create a DUNS +4 record in SAM, follow the steps below: Access the SAM homepage. Click the blue “Log In” button in the upper right corner (you will be redirected to Login.gov). Click “Sign in” and enter your login.gov email address and password. Click “Next.” You will be directed to the SAM Terms and Conditions. Click...
NPI Final ruling according to the Code of Federal Regulations 42 CFR 403.902 § 403.902 Definitions. For purposes of this subpart, the following definitions apply: Applicable group purchasing organization means an entity that: (1) Operates in the United States; and (2) Purchases, arranges for or negotiates the purchase of a covered drug, device, biological, or medical...
A AAMVAnet- American Association of Motor Vehicle Administrators (AAMVA) data communications network ACD – AAMVA Code Dictionary ACS – Access Control Server Acct – Account AIM – Accident Involvement Measure AMD – Accounts Management Database Amt – Amount App – Application ARF – Accounts Request Form ASCII – American Standard Code for Information Interchange Aspen...
B BASIC – (Behavioral Analysis and Safety Improvement Categories BICE – Bureau of Immigration and Enforcement BIPD – Bodily Injury, Property Damage BOC-3 – The form used by the FMCSA to identify the Process Agent or Registered Agent used by a carrier/company. BPI – Bits Per Inch
C C & A – Certification and Accreditation Cancels – Cancellations CAPRI – Compliances Analysis Performance and Review Information Carrier – The mover that transports household goods. CART – Centralized Application Resource Tool CaseRite – Enforcement case preparation system CDL – Commercial Driver�s License CDLIS – Commercial Driver�s License Information System CDMA – Cellular Digital...
D DataQs – Support tool that assists requesters, FMCSA, and State agencies in filing DBA – Doing Business As DCE – Distributed Computing Environment Desc – Description DGAF – Dirección General de Autotransporte Federal (General Directorate of Federal Motor Carriers) Disp – Disposition DNS – Domain Name Service DOS – Disk Operating System DOT –...
E EC – Electronic Credentialing ECCB – Enterprise Change Control Board EDI – Electronic Data Interchange EDM – End of Message EDMS – Electronic Document Management System EED – Electronically Entered Data, Electronic Entry Distributors EFF – Effective eFOTM – Electronic Field Office Training Manual EFT – Electronic Funds Transfer EIN – Employer Identification Number...
F FAB – Financial, Accounting, and Budget FARS – Fatality Analysis Reporting System FF – Freight Forwarder FHWA – Federal Highway Administration FIPS – Federal Information Process Standards � Federal Information Processing System FMCSA – Federal Motor Carrier Safety Administration FMCSR – Federal Motor Carrier Safety Regulations FOIA – Freedom of Information Act FSG –...
G GPRS – General Packet Radio Service GVWR – Gross Vehicle Weight Rating
H HELP – Heavy Vehicle Electronic License Plate Program HHG – Household Goods – The personal effects or property used, or to be used, in a dwelling, when part of the equipment or supplies of the dwelling. Transportation of the household goods must be arranged and paid for by the individual shipper or by another...
I IAS – Internet Application Server ICC – Interstate Commerce Commission ICD – Interface Control Document ID – Identifier or Identification IDN – Interdepartmental Network (the network that connects all DOT administrators) IEN – Information Exchange Network IES – Information Exchange System IFTA – International Fuel Tax Agreement INS – Immigration and Naturalization Service Interstate...
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L LAN – Local Area Network LIFIS – Licencia Federal Information System LPG – Liquid Propane Gas LSI – Legacy System Interface L & I – Licensing and Insurance
M MAN – Metropolitan Area Network MARS – Master Activity Reporting System Max – Maximum MC – Motor Carrier MCREGIS -Specialized text retrieval system for Federal Safety regulations, operations manuals, rosters & data tables MCRIS – FMCSA Information Systems Division MCSAP – Motor Carrier Safety Assistance Program MCSIP – Motor Carrier Safety Improvement Process (rating...
N NAFTA – North American Free Trade Agreement NAT – Network Address Translation NCIC – National Crime Information Center NHTSA – National Highway Traffic Safety Administration NLETS – National Law Enforcement Telecommunications Systems No. – Number NOC – Notice of Claim NOL – Network Operations Center
O OC -Organization Coordinator OCD – Operational Concept Document OIC – Officer-in-charge OMC – Office of Motor Carriers OOS – Out of Service OP-1 – Operating authority for non-Mexican domiciled motor carriers, property (regulated property and household goods) brokers, and enterprise carriers. OP-1 (ETA/TA) – Temporary or emergency (official natural or national emergencies) operating authority...
P PDF – Portable Document Format PDM – Physical Data Mode PDPS – Problem Driver Pointer System PIQ – Vehicle (Past Inspection Query) (180 Days) goes to SAFER to retrieve data P.O. – Post Office Box POP 3 – Post Office Protocol, (Receiving) PPTP – Point-to-Point Tunneling Protocol PRISM – Performance & Registration Information Systems...
Q QC – Query Central
R RAM – Radioactive Materials Inspections � Level 6 RDTP – Roadside Data Technology Project REC – Request for Change Recv – Received Reg – Regular Req – Required RFC – Registro Federal de Causantes RFC – Request for Change (The process and/or form used for the ECCB) RIDGE – Roadside Inspection Database Generator ROB...
S SAFER – Safety and Fitness Electronic Records SAFETYNET– Networked PC Data Collection and Deliver System SAVI – Security Awareness Virtual Initiative SCAPI – SAFER / CVIEW Application Programming Interface (used by Eric King @ APL) SCAPI AFF– SAFER / CVIEW Application Programming Interface � Application File Format SCT – Secretaría de Comunicaciones y Transportes...
T TAPI – Telephony Application Program Interface TCIRC – Technology Crime Initial Response Cadre TCP/IP – Transmission Control Protocol / Internet Protocol TIN – Taxpayer ID Number (either carrier social security or Employer ID number) TraCS – Traffic and Criminal Software Trans -Transaction TS – Transaction Set
U UAS – User Authentication System UAT – User Acceptance Testing UDP – User Datagram Protocol UFA – Uniform Fine Assessment Underl – Underlying USCS – United States Customs Services USDOT – United States Department of Transportation URL – Universal Resource Locator
V VIN – Vehicle Identification Number VPN / IPSec– Virtual Private Network / Internet Protocol Security
W WAN – Wide Area Network WC – Water Carrier WV – Waived
X X12 – Accredited Standards Committee X12, the ANSI standard group for EDI XML – eXtensible Markup Language
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Acronyms or Terms Name or Definition of Terms AB Advocate Advisory Board ACA Affordable Care Act ACS Automated Collection System Adj or adjmt Adjustment Advocacy Initiative The overall advocacy process: from identification of the underlying Advocacy Issue through implementation of the accepted Advocacy Proposal. Advocacy Issue The underlying problem or issue that creates disservice or...
A AARP American Association of Retired Persons Accrual method Accounting method that reports income when earned (not necessarily received) and expenses when incurred (not necessarily paid), as opposed to the cash method. (Out of scope for the VITA/TCE programs.) Active Participation When a taxpayer makes significant rental or business management decisions, such as approving rental...
1. Advisory Affiliate: Your advisory affiliates are all of your officers, partners, or directors (or any person performing similar functions); all persons directly or indirectly controlling or controlled by you; and all of your current employees (other than employees performing only clerical, administrative, support or similar functions). If you are a “separately identifiable department or...
Abstract An attribute of an element to indicate that the element is only used in a hierarchy to group related elements together. An abstract element cannot be used to tag data in an instance document. Attribute A property of an element such as its name, balance, data type, and whether the element is abstract. Attributes...
Entry-Level Driver means a person who must complete the CDL skills test requirements under 49 CFR 383.71 prior to (1) receiving the initial CDL or having a CDL reinstated, (2) upgrading a Class B or Class C CDL, or (3) obtaining a passenger or school bus endorsement. This definition does not include individuals that 49...
Sole Proprietor An individual who owns and operates a business normally in his or her legal name and in which there is no legal distinction between the owner and the business. In some jurisdictions the proprietor can use a trade name or business name other than his or her legal name, but the individual is...
Partnership A voluntary contract between two or more competent persons to place their money, effects, labor, and skill, or some or all of them, in lawful commerce or business, with the understanding that there shall be a proportional sharing of the profits and losses between them.
Corporation An artificial person or legal entity created by or under the authority of the laws of a state or nation, composed, in some rare instances, of a single person and his successors, but ordinarily consisting of an association of numerous individuals, which is regarded in law as having a personality and existence distinct from...
Limited Liability Company A business structure type that combines corporation limited personal liability with partnership or sole proprietorship single taxation. Each shareholder files his or her own separate tax return. Profits and tax benefits are split any way the stockholder and shareholder entities choose.
Unit of State or Local Government Any department or agency of the federal government, any state or any agency, office or department of a state, any city, county, district, commission, authority, entity, port or other public corporation organized and existing under statutory law or under a voter-approved charter and any intergovernmental entity created under Federal...
Limited Liability Partnership (LLP) A partnership in which some or all partners (depending on the jurisdiction) have limited liability. In an LLP, no partner is responsible or liable (directly or indirectly) for an obligation of the partnership due to another partner’s misconduct or negligence, thus shielding innocent members of these partnerships from liability
Trust A relationship whereby property (real or personal, tangible or intangible) is transferred by one party (settlor) to be held by another party (trustee) for the benefit of a third party or parties (beneficiary(ies)). In effect, a trust is a legal device designed to provide financial assistance or something of value to someone without giving...
For-Hire Motor Carrier Transportation by a motor carrier for compensation, including: Property – Transportation of general freight, hazardous materials or household goods. This category includes transportation exempt from the commercial registration requirements in Title 49 U.S.C. chapter 139. These exemptions can be found in 49 U.S.C. chapter 135. Passengers: Charter & special operations – Charter service is...
Private Motor Carrier Interstate Transportation by commercial motor vehicle, not for compensation, as defined in 49 CFR part 390. Property (Hazardous Materials) – transports any amount of hazardous materials. Property (Non-Hazardous Materials) – does not transport any hazardous materials. Passengers (Business) – A private motor carrier engaged in the interstate transportation of passengers which is provided in the furtherance...
Property Broker An entity that arranges for the interstate transportation of cargo belonging to others, using for-hire motor carriers subject to the commercial registration requirements to provide the actual transportation.
Freight Forwarder An entity that holds itself out to provide transportation of cargo belonging to others, using for-hire motor carriers subject to the commercial registration requirements to provide the actual interstate transportation. In the ordinary course of business, freight forwarders: (1) assemble and consolidate shipments, (2) conduct break bulk and distribution operations, and (3) assume...
Government Entity A U.S. Federal Government agency, State Government agency, local Government agency or Indian Tribe.
Cargo Tank Facility An entity that: Manufactures, repairs, inspects, tests, qualifies, or maintains a cargo tank to ensure that the cargo tank conforms to 49 CFR part 178, subpart J, and 49 CFR part 180, subpart E; Alters the certificate of construction of cargo tank; Ensures the continuing qualification of a cargo tank by performing...
Driveaway/Towaway Operation An operation in which an empty or unladen motor vehicle with one or more sets of wheels on the surface of the roadway is being transported: Between a vehicle manufacturer’s facilities; Between a vehicle manufacturer and a dealership or purchaser; Between a dealership, or other entity selling or leasing the vehicle, and a...
Interstate (Non-HM) Transportation of passengers or property: (1) across State lines, including international boundaries; or (2) within one State as part of a through movement that originates or terminates in another State or country.
Interstate (HM) Transportation of any amount of hazardous material: (1) across State lines, including international boundaries; or (2) entirely within one State as part of a through movement that originates or terminates in another State or country.
Intrastate (Non-HM) Transportation of passengers or property entirely within one State that is not part of a through movement that originates or terminates in another State or country.
Intrastate (HM) Transportation of any amount of hazardous material entirely within the boundaries of a single State that is not part of a through movement that originates or terminates in another State or country.
Commercial Motor Vehicle Any self-propelled or towed motor vehicle used on a highway in interstate commerce to transport passengers or property when the vehicle – Has a gross vehicle weight rating or gross combination weight rating, or gross vehicle weight or gross combination weight, of 4,536 kg (10,001 pounds) or more, whichever is greater; or...
Passenger vehicles Passenger vehicles are defined as: Motor coach—— A passenger vehicle with an elevated passenger deck over the baggage compartment — usually designed for long distance transportation of passengers, and often equipped with storage racks above the seats. School bus—A vehicle designed and/or equipped mainly to carry primary and secondary students to and from...
Other Vehicle Types For illustrations of the various vehicle types, Vehicle_Configuration_508CLN.pdf
Intermodal Equipment Chassis For an explanation of what distinguishes an intermodal equipment chassis, How do you tell intermodal equipment (IME) chassis from other types of trailers? To tell IME from other types of trailers: Look at the lower corners. Intermodal containers transported on IME have “twistlocks” at each lower corner to secure them to the...
Drivers NOTE: Any driver who engages in both interstate and intrastate transportation should be counted as an interstate driver. Interstate – The driver transports passengers or property: (1) across State lines, including international boundaries; or (2) entirely within one State as part of a through movement that originates or terminates in another State or country. Solely...
Hazardous Materials Hazardous Materials: “bulk” and “non-bulk” are defined in 49 CFR 171.8, as follows: Bulk: A packaging, without any intermediate form of containment, having a maximum capacity greater than 119 gallons for liquids, 882 pounds or 119 gallons for solids, or 1,000 pounds water capacity for gases. Non-Bulk: A packaging having a capacity equal to or less...
Acronyms ADA – Americans with Disabilities Act CDL – Commercial Driver’s License CDLIS – Commercial Driver’s License Information System CFR – Code of Federal Regulations CLP – Commercial Learner’s Permit CMV – commercial motor vehicle CR – compliance review CSA – Compliance, Safety, Accountability CSP – Cooperative Safety Plan CVSA – Commercial Vehicle Safety Alliance DVIR – driver vehicle inspection report ETA – Educational and Technical...
Accident An event involving a CMV that results in: A fatality; Injury to a person who needs immediate medical treatment away from the accident site; or One or more vehicles being disabled due to the accident. The term crash can be used interchangeably with accident. The term accident does not apply to events involving boarding...
Acute noncompliance Violation(s) that require immediate corrective actions by a carrier, regardless of the carrier’s overall safety posture.
Alcohol Alcohol is the intoxicating agent in beverage alcohol, ethyl alcohol, or other low molecular weight alcohols including methyl and isopropyl alcohol.
Brake inspector Any employee who is responsible for ensuring that all brake inspections, maintenance, service, or repairs meet Federal standards.
Coercion A threat or act by someone to withhold business or work opportunities, or any adverse employment action, against another individual in order to make that person violate rules or regulations. FMCSA adopted a Coercion Rule on Nov. 30, 2015, the details of which are explained in 49 CFR 390.6
Commercial Driver’s License (CDL) A type of driver’s license required to operate large or heavy vehicles. Requires a higher level of knowledge, experience, skills, and physical abilities than that required to drive a non-commercial vehicle. CDL holders are held to a higher standard when operating any type of vehicle on public roads.
Commercial Driver’s License Information System (CDLIS) Established by FMCSA pursuant to section 12007 of the Commercial Motor Vehicle Safety Act of 1986. CDLIS enables the States to exchange information about the driving records and driver’s licenses of CMV drivers. CDLIS helps ensure: Only one license is issued to a driver; and Drivers currently disqualified are...
Commercial Learner’s Permit (CLP) A CLP is issued to an individual by a State or other jurisdiction of domicile. See 49 CFR 383.25. When carried with a valid driver’s license issued by the same State or jurisdiction, it authorizes the individual to operate a class of CMV when accompanied by a holder of a valid CDL...
Commercial Motor Vehicle (As defined in 49 CFR 383.5) This additional definition only applies to regulations in 49 CFR 383. A motor vehicle or combination of motor vehicles used in commerce to transport passengers or property if the motor vehicle is a: Combination Vehicle (Group A)—having a gross combination weight rating or gross combination weight...
Commercial Motor Vehicle (as defined in 49 CFR 390.5) Any self-propelled or towed motor vehicle used on a highway in interstate commerce to transport passengers or property when the vehicle: Has a gross vehicle weight rating or gross combination weight rating, or gross vehicle weight or gross combination weight, of 4,536 kg (10,001 pounds) or...
Compliance review An onsite examination of motor carrier operations, such as drivers’ hours of service, maintenance and inspection, driver qualification, Commercial Driver’s License requirements, financial responsibility, accidents, hazardous materials, and other safety and transportation records to determine whether a motor carrier meets the safety fitness standard. A compliance review may be conducted to investigate potential...
Compliance, Safety, Accountability Comprehensive safety compliance and enforcement program that enables FMCSA and State Partners to monitor carrier safety and intervene with carriers to address problems before crashes occur.
Controlled substance Substances as identified in 49 CFR 40.85. In accordance with FMCSA rules, urinalyses will be conducted to detect the presence of the following five drugs: Marijuana Cocaine Opiates Amphetamines Phencyclidine (PCP)
Conviction An unvacated adjudication of guilt or failure to comply with the law.
Cooperative Safety Plan A voluntary plan a carrier may implement with the help of an FMCSA enforcement officer to address safety problems. This plan may be used alone or with a Notice of Violation (NOV), but it cannot replace a Notice of Claim (NOC).
Corrective action plan A plan developed by a carrier and provided to FMCSA that explains why a safety problem is occurring and the action the carrier will take to correct the problem and ensure that it does not reoccur.
Direct compensation Payment made to the motor carrier by the passengers or a person acting on behalf of the passengers for the transportation services provided, and not included in a total package charge or other assessment for highway transportation services.
Disqualification The suspension, revocation, or cancellation of a CDL. For full definition and other important related terms see 49 CFR 383.5.
Driveaway–towaway An operation in which an empty or unladen motor vehicle with one or more sets of wheels on the surface of the roadway is being transported: Between vehicle manufacturer facilities; Between a vehicle manufacturer and a dealership or purchaser; Between a dealership, or other entity selling or leasing the vehicle, and a purchaser or...
Driving Operating a CMV on a roadway, including while temporarily halted because of traffic, a traffic control device, or other momentary delay. An operator is no longer driving when the driver has stopped in a location where the vehicle can safely remain stationary.
Entry-level driver A driver who has less than one year of experience operating a CMV with a CDL in interstate commerce.
Financial responsibility Policies and bonds that satisfy a carrier’s ability to cover public liability.
For-hire carrier A person or company engaged in the transportation of goods or passengers for compensation. For hire carriers need to obtain operating authority (MC number) in addition to a U.S. DOT Number.
Hand-held mobile device Any mobile device that requires at least one hand to be fully operational. In order to comply with 49 CFR 392.82, drivers must utilize an earpiece or the speaker phone function and must initiate, answer, or end a call using voice-activation or one-button touch features.
Inspection An evaluation of a driver, vehicle, or both to ensure safe operations. The six levels of inspections conducted in North America are developed by the Commercial Vehicle Safety Alliance (CVSA). The level of inspection refers to what is examined during the inspection. Level 1 is the most comprehensive type of inspection.
Interstate commerce Trade, traffic, or transportation between the following: A place in a State and a place outside of such State (including a place outside of the United States); Two places in a State through another State or place outside of the United States; or Between two places in a State as part of trade,...
Intervention Refers to a variety of tools FMCSA uses to address carriers that are found in violation of Federal safety regulations. Interventions include warning letters, inspections, and investigations, among others. The interventions process evaluates why safety problems occur, recommends remedies, encourages corrective action, and when necessary, invokes strong penalties for carriers failing to comply.
Intrastate commerce Any trade, traffic, or transportation in any State which is not described in the term interstate commerce.
LCV Driver-Training Certificate of Grandfathering This shows that the driver is exempt from the training requirements based on experience. (Note: Drivers may be grandfathered from June 01, 2004 to May 31, 2005 only.) See 49 CFR 380.111 for driver training.
Longer combination vehicle (LCV) Any combination of a truck-tractor and two or more trailers or semi-trailers, which operate on the National System of Interstate and Defense Highways with a gross vehicle weight greater than 80,000 pounds (36,288 kilograms).
Material error A mistake or series of mistakes that resulted in an erroneous safety rating or Safety Audit.
New Entrant A motor carrier not domiciled in Mexico that applies for a United States Department of Transportation (DOT) identification number in order to initiate operations. A carrier is considered a new entrant for its first 18 months on the road, and must complete the New Entrant Safety Assurance Program.
New Entrant Safety Assurance Program (New Entrant Program) FMCSA program to educate new motor carriers that operate in interstate commerce, and evaluate their safety fitness during their first 18 months on the road.
Not for direct compensation Any compensation outside of the ‘direct compensation’ definition.
Notice of Claim A formal notice that violations are severe enough to warrant assessment and civil penalties.
Notice of Violation A formal notice that violations are severe enough to warrant formal action, but not civil penalties. To avoid further intervention from FMCSA, the carrier must take corrective action and provide evidence of it, or contest the violations.
Off Duty Any time a driver is free of responsibility or care of a CMV, is not performing or expected to perform work, and is welcome to leave the premises of the CMV in order to pursue activities of their choosing.
On Duty All time from when a driver begins compensated work, or is required to be ready to work, until the time the driver is relieved of all responsibilities for performing work.
Operating authority Dictates the type of operation a company may run and the cargo it may carry. Some types of carrier must obtain operating authority in addition to registering (U.S. DOT Number) with FMCSA.
Out-of-Service Order A declaration issued by FMCSA or a law enforcement professional that prohibits a motor carrier or driver from operating a commercial motor vehicle.
Over-the-road bus A bus characterized by an elevated passenger deck located over a baggage compartment.
Owner–Operator A person who operates a CMV under his or her own authority (U.S. DOT Number), as both a motor carrier and self-employed driver.
Private motor carrier of passengers (business) Provides private interstate transportation of passengers in furtherance of a commercial enterprise and is not available to the public at large.
Private motor carrier of passengers (non-business) Provides private interstate transportation of passengers not in furtherance of a commercial enterprise and is not available to the public at large. (Examples: civic organization, scout group, or other organization that purchases or leases a bus for the private transportation of their group.
Public liability The motor carrier’s responsibility for bodily injury, property damage, and environmental restoration following an accident.
Refusal to submit (to an alcohol or controlled substances test) Means that a driver: Fails to appear for any test (except a pre-employment test) within a reasonable time, as determined by the employer, consistent with applicable DOT agency regulations, after being directed to do so by the employer. Fails to remain at the testing site...
Roadside Inspection See Inspection. Roadside inspections may be conducted at a variety of locations, such as weigh stations, border checkpoints, bus terminals, or when a law enforcement official stops a CMV.
Safety Audit An examination of a motor carrier’s operations to provide educational and technical assistance on safety and the operational requirements of the FMCSRs and applicable HMRs and to gather critical safety data needed to make an assessment of the carrier’s safety performance and basic safety management controls. Safety Audits do not result in safety...
Safety management controls The systems, policies, programs, practices, and procedures used by a motor carrier to ensure compliance with applicable safety and hazardous materials regulations.
Safety Measurement System The web-based system FMCSA uses to collect data from roadside inspections, including driver and vehicle violations; crash reports from the last two years; and investigation results to identify motor carriers with safety problems to prioritize them for interventions.
Safety Rating A safety rating is an evaluation of a motor carrier’s safety performance that is available to the carrier and the public. FMCSA issues one of three safety ratings: Satisfactory, Conditional, Unsatisfactory.
Safety-sensitive function All time from the time a driver begins to work or is required to be in readiness to work until the time he/she is relieved from work and all responsibility for performing work.
Accessorial (Additional) Services Services such as packing, appliance servicing, unpacking, or piano stair carries that you request to be performed (or that are necessary because of landlord requirements or other special circumstances). Charges for these services may be in addition to the line haul charges.
Advanced Charges Charges for services performed by someone other than the mover. A professional, craftsman, or other third party may perform these services at your request. The mover pays for these services and adds the charges to your bill of lading charges.
Agent A local moving company authorized to act on behalf of a larger, national company.
Appliance Service by Third Party The preparation of major electrical appliances to make them safe for shipment. Charges for these services may be in addition to the line haul charges.
Auxiliary Service (Shuttle) If the assigned over-the-road van is unable to make a normal pickup/delivery because of physical constraints and a second, smaller, vehicle is needed, this is considered Auxiliary Service (a shuttle). Examples of such physical constraints include situations such as a road or driveway that is too narrow, a bridge unable to support...
Bill of Lading The receipt for your goods and the contract for their transportation. NOTE: It is your responsibility to understand the bill of lading before you sign it. If you do not agree with something on the bill of lading, do not sign it until you are satisfied that it is correct. The bill...
Booking Agent The agent who accepts the order for your move. The booking agent may or may not be your origin or destination agent.
Broker A person who, for compensation, arranges or offers to arrange, the transportation of cargo by an authorized carrier. A broker does not provide the actual truck transportation. A broker does not assume responsibility for the cargo and usually does not take possession of the cargo.
Bulky Article Items such as pianos, cars, boats, snowmobiles and campers usually carry a bulky article charge to compensate the carrier for the difficulty of loading and unloading such articles, and their unusual bulk or low weight density. In some cases, an additional “weight additive” is applicable
Carrier The mover transporting your household goods.
Carrier’s Liability For Loss or Damage The liability the carrier assumes for your possessions. There are several different liability options available to you so be sure to ask the carrier’s representative to explain each option, its ramifications and its cost. Carrier’s Liability for Loss or Damage is often incorrectly referred to as “insurance.”
Claim Shipper’s statement of loss or damage to any of his or her household goods while they were in the care of the carrier or its agent. Such a statement is generally made on a “Claim Form.”
Collect on Delivery (COD) Shipments where customer pays moving charges at the time of delivery. For COD shipments, payment is required in cash, or by traveler’s check, money order, cashier’s check or credit card (pending a prior credit card approval process). Personal checks are not accepted for payment of COD charges.
Commercial Shipper Any person who is named as the consignor or consignee in a bill of lading contract who is not the owner of the goods being transported but who assumes the responsibility for payment of the transportation and other tariff charges for the account of the beneficial owner of the goods. The beneficial owner...
Consignee The person to whom the shipment is to be delivered.
Consignor The person from whom the shipment is picked up.
CP (Carrier Packed) Articles packed into cartons or crates by the carrier, not the shipper.
Cwt This abbreviation stands for the rate or charge per 100 pounds.
Deadhead Empty (unloaded) miles traveled by a driver in order to move his or her truck to pick up a paying load.
Declared Valuation The shipper’s indication of the value declared for the possessions being shipped, thereby establishing the carrier’s maximum liability for loss or damage to the shipment. If no value is declared, the liability is then controlled by the tariff under which the shipment is moved.
Destination Agent The agent designated in the destination area to be available to assist or provide information to you or the van operator regarding your shipment
Elevator Carry A charge to compensate the carrier for the additional labor required to move a shipment by way of an elevator
Estimate, Binding An agreement made in advance with your mover, which guarantees the total cost of the move based upon the quantities and services shown on the estimate. However, if you add additional items to your shipment or request additional services, you and your mover may: agree to abide by the original binding estimate, negotiate...
Estimate, Non-Binding This is what your mover believes the cost will be, based upon the estimated weight of the shipment and the accessorial services requested. A non-binding estimate is not binding on the mover. The final charges will be based upon the actual weight of your shipment, the services provided, and the tariff provisions in...
Expedited Service An agreement with the mover to perform transportation by a set date in exchange for charges based upon a higher minimum weight.
Extraordinary Value or High Value Article An item whose value exceeds $100 per pound ($220 per kilogram). NOTE: These items should be disclosed to the mover to ensure that they are protected accordingly.
Flight Charge A charge for carrying items up or down flights of stairs. Charges for these services may be in addition to the line haul charges.
Flight Charge (Stair Carry) An extra charge to compensate the carrier for the additional labor and time required to move a shipment up or down flights of stairs which lead to or from an origin or destination residence.
For-Hire Carrier A trucking company that is paid to transport cargo belonging to others.
Force Majeure A defense protecting the parties in the event that a part of the contract cannot be performed due to causes which are outside the control of the parties and could not be avoided by exercise of due care.
Freight Forwarder A company that arranges for truck transportation of cargo belonging to others, utilizing for-hire carriers to provide the actual truck transportation. A freight forwarder assumes responsibility for the cargo from origin to destination and usually takes possession of the cargo at some point during the transportation. Freight forwarders typically assemble and consolidate less-than-truckload...
Full Value Under this option, the mover is liable for the replacement value of lost or damaged goods (as long as it doesn’t exceed the total declared value of the shipment). If you elect to purchase full value protection (FVP), and your mover loses, damages or destroys your articles, your mover must repair, replace with...
Government Bill of Lading Shipper Any person whose property is transported under the terms and conditions of a government bill of lading issued by any department or agency of the Federal government to the carrier responsible for the transportation of the shipment.
Gross Weight Weight of the van and its contents after your goods are loaded
Guaranteed Pickup and Delivery Service An additional level of service featuring guaranteed dates of service. Your mover will provide reimbursement to you for delays. This premium service is often subject to minimum weight requirements
Hazardous Materials Explosives, compressed gases, flammable liquids and solids, oxidizers, poisons, corrosives and radioactive materials. Many common household items are considered hazardous materials. These include nail polish remover, paints, paint thinners, lighter fluid, gasoline, propane cylinders, and automotive repair and maintenance chemicals.
High Value or Extraordinary Value Article Items included in a shipment valued at more than $100 per pound ($220 per kilogram). NOTE: These items should be disclosed to the mover to ensure that they are protected accordingly.
Household Goods (when used in connection with transportation) The personal effects or property used, or to be used, in a dwelling, when part of the equipment or supplies of the dwelling. Transportation of the household goods must be arranged and paid for by the individual shipper or by another individual on behalf of the shipper....
Individual Shipper Any person who is the shipper, consignor, or consignee of a household goods shipment identified as such in the bill of lading contract. The individual shipper owns the goods being transported and pays the transportation charges.
Intrastate Move A move in which goods are transported from one point to another within the same state; no state borders are crossed.
Interstate Move The transportation of goods from one state to a different state (including outside the United States); OR between two places in one state THROUGH another state or place outside of the United States. See more on the FAQ page
Line Haul Charges The charges for the vehicle transportation portion of your move. These charges, if separately stated, apply in addition to the accessorial service charges.
Long Carry Charge for carrying articles excessive distances between the mover’s vehicle and your residence. Charges for these services may be in addition to the line haul charges
Long Haul A move that takes place over 450 miles. Long hauls are (generally) performed with tractor-trailers.
Motor Carrier A company that provides truck transportation. There are two types of motor carriers: private and for-hire carriers
Net Weight Gross weight minus the tare weight. You are entitled to a copy of the scale ticket to verify your shipment’s actual net weight.
110 Percent Rule Movers are required by law to deliver your goods for no more than 10 percent above the price of a non-binding estimate.
Operating Authority Registration issued by a state or Federal governmental entity authorizing a carrier to move household goods for compensation between designated geographical areas. A van line’s agent may also have its own separate “operating authority” issued by a state or Federal governmental entity, to move shipments within a certain geographical area.
Order for Service The document authorizing the carrier to transport your household goods.
Order for Service Number The number used to identify your shipment. It appears in the upper right corner of the Bill of Lading and on the Order for Service
Origin Agent The agent designated in the origin area to be available for preliminary readying of the shipment before movement (such as packing cartons), or to provide information to you regarding your move.
Overflow Articles that are left behind due to insufficient space on a van, to be loaded on a second van for transportation and delivery
PBO (Packed By Owner) Articles packed into cartons or crates by the shipper, not the carrier
Peak Season Rates Higher line haul charges applicable during the summer months
Pickup and Delivery Charges Separate transportation charges applicable for transporting your shipment between the storage-in-transit warehouse and your residence
Private Carrier A company that provides truck transportation of its own cargo, usually as part of a business that produces, uses, sells and/or buys the cargo being hauled
Released Value (Basic Value) This is the most economical protection option available. This no-additional-cost option provides minimal protection. Under this option, the mover assumes liability for no more than 60 cents per pound ($1.32 cents per kilogram), per article. Loss or damage claims are settled based upon the pound (kilogram) weight of the article multiplied...
Reweigh Second weighing of shipment performed at destination at the shipper’s or the carrier’s request.
Road Van A long haul tractor-trailer that moves shipments long distance (which is generally considered over 450 miles)
Safe, Accountable, Flexible, Efficient Transportation Equity Act A Legacy for Users (SAFETEA-LU): The Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (Public Law 109-59; SAFETEA-LU) is a funding and authorization bill that Congress passed in 2005 and enhanced existing federal authority over interstate movers.
Shipper The person (customer) whose goods are being moved.
Short Haul A move that takes place under 450 miles. Short hauls are (generally) performed with straight trucks, although tractor-trailers can, and are, often employed to complete large short haul moves
Shuttle Service Use of a smaller vehicle to provide service to residences that are not accessible to the mover’s normal line haul equipment (large moving vans).
Straight Truck A truck, generally one half the size and capacity of a tractor-trailer. Straight trucks are single cab and body vehicles (as opposed to a tractor-trailer on which the cab can be separated from the trailer)
Storage-in-Transit (SIT) The temporary warehouse storage of your shipment pending further transportation, with or without notification to you. If you (or someone representing you) cannot accept delivery on the agreed-upon date or within the agreed-upon time period (for example, because your home is not quite ready to occupy), your mover may place your shipment into...
Surface Transportation Board (www.stb.dot.gov) This agency within the Department of Transportation regulates household goods carrier tariffs among other responsibilities.
Survey The booking or origin agent examines (i.e., surveys, or visually inspects) the shipper’s goods to develop a cost estimate
Tare Weight Weight of the van and its contents before your goods are loaded
Tariff A list (in whole or in part) containing rates, rules, regulations, classifications or other provisions related to a motor carrier’s transportation services. The Surface Transportation Board requires that a tariff contain three specific items. First, an accurate description of the services the mover offers to the public. Second, the specific applicable rates and service...
Third Party Services Services performed by someone other than the carrier at your request or as required by Federal, state or local law
Unpacking The removal of your goods from containers (boxes) and crates, and the disposal of such containers and packing materials
Valuation The degree of “worth” or dollar value of the shipment. The valuation charge compensates the mover for assuming a greater degree of liability than is provided for in its base transportation charges. All movers are required to assume liability for the value of goods that they transport. Most movers offer two levels of liability—basic and...
Van Movers call all types and kinds of trucks used for moving “vans.” A van can be as small as a small econo-line pack van or as large as a long tractor-trailer.
Van Operator The driver of the vehicle carrying your household goods.
Warehouse Handling A charge may be applicable each time storage-in-transit service is provided. Charges for these services may be in addition to the line haul charges. This charge compensates the mover for the physical placement and removal of items within the warehouse
BUS Any motor vehicle designed, constructed, and used for the commercial transportation of 15 or more passengers, including the driver.
CARRIER TYPE “For-hire” or “Private.”
COMMERCIAL VEHICLE A motor vehicle, usually a truck or bus, which transports freight or passengers for compensation.
Commercial Vehicle Safety Alliance (CVSA) An organization of states and provinces in the United States, Canada, and Mexico dedicated to improving the uniformity of commercial motor vehicle safety enforcement.
Defect Group The “group” to which a given violation is attributed. In this report, all violations identifiable during the driver-vehicle inspections are assigned to one of three mutually-exclusive groups: vehicle, driver, or hazardous materials.
Double A commercial motor vehicle consisting of a truck-tractor and two detachable trailers.
Driver-Only Inspection Examines only the driver-related aspects of the standard Full Inspection, including compliance with commercial drivers’ licensing requirements, medical certifications and waivers, and the hours-of-service regulations. This inspection type is a Level III inspection.
Driver Violation A violation discovered during the inspection which pertains to the driver of the commercial vehicle.
Duration The amount of time required to complete a given inspection. It is calculated using the “start” and “finish” times recorded by the inspector on the inspection document.
Facility Type The type of facility – fixed or roadside – where the inspection was conducted.
Federal Motor Carrier Safety Administration (FMCSA) The administration within the U.S Department of Transportation (USDOT) responsible for monitoring and developing safety standards for commercial motor vehicles operating in interstate commerce.
Federal Motor Carrier Safety Regulations (FMCSR) Regulations governing the safe operation of commercial vehicles engaged in interstate commerce. The FMCSR are contained in the Code of Federal Regulations, Title 49, Subtitle B, Chapter III. States participating in MCSAP have adopted their own state-level versions of the FMCSR.
Fixed Facility A state commercial vehicle “scale” facility or other permanent site used to conduct inspections.
Fleet Size The total number of power units (truck-tractors and straight trucks) owned or operated by a given motor carrier.
For-Hire Carrier – Authorized A for-hire carrier subject to economic regulation by the Interstate Commerce Commission.
For-Hire Carrier – Exempt A for-hire carrier not subject to economic regulation by the Interstate Commerce Commission.
Full Inspection The most comprehensive and thorough of the inspection types, it involves extensive vehicle checks – including under-the-vehicle measurement of brake performance – and examination of hours-of-service logs. This inspection type is a Level I inspection; it is also sometimes referred to as the North American Standard (NAS).
Hazardous Materials Materials, substances, or wastes, which, due to their compositional nature, may be toxic, harmful or fatal if accidentally exposed to humans, animals, or the environment.
Hazardous Materials Regulations (HMR) Federal regulations governing the commercial transportation of hazardous materials. The HMR are contained in the Code of Federal Regulations, Title 49, Subtitle B, Chapter I.
Hazardous Materials Regulations (HMR) Federal regulations governing the commercial transportation of hazardous materials. The HMR are contained in the Code of Federal Regulations, Title 49, Subtitle B, Chapter I.
Hazardous Materials Violation A violation discovered during the inspection which pertains to the transportation of hazardous materials.
Inspection The systematic examination of a commercial motor vehicle and its driver to determine their overall safety fitness.
Inspection Level Refers to the inspection methodology employed in the examination of a given vehicle and driver. Five inspection levels are referenced in this report: Full, Walk-Around, Driver-Only, Special, and Terminal.
Interstate Carrier A carrier who sometimes or always operates in interstate or foreign commerce. For the purposes of this report, “interstate carrier” is defined also to include carriers of hazardous materials who operate in interstate, foreign, or intrastate commerce.
Motor Carrier Inspection Database A database on the USDOT mainframe computer containing records of inspections of interstate and intrastate carriers. State inspection records are uploaded to the mainframe using SAFETYNET.
Intrastate Carrier A carrier who operates solely in intrastate commerce and, for the purposes of this report, never transports hazardous materials.
Location The U.S. State or Territory, Canadian Province, or Mexican State in which a specific inspection was conducted.
Mobile Inspection Facility A non-permanent inspection facility. Mobile facilities can be moved from one location to another, as conditions warrant. Sometimes called a “roadside” facility.
Motor Carrier Management Information System (MCMIS) The computerized system, operated by the FMCSA, containing comprehensive safety data on interstate and intrastate commercial carriers. Two parts of MCMIS are the Motor Carrier Inspection Database and the Motor Carrier Census Database.
Motor Carrier Safety Assistance Program (MCSAP) A Federal program providing funds to U.S. states and territories for activities in support of commercial motor vehicle safety. To receive MCSAP funds, states must adopt interstate and intrastate regulations which are compatible with the FMCSR and the HMR. The FMCSA is the Federal agency responsible for administering MCSAP.
Out-of-Service (OOS) Violations A violation of the FMCSR or HMR requiring that a commercial vehicle or driver be taken out of service or moved off the road until the circumstances which caused the violation have been resolved or corrected.
Private Carrier A commercial motor carrier for which private highway transportation activities are incidental to, and only in furtherance of, its primary business activity.
Safetynet A state-based information system used to store and process commercial carrier safety information, including driver-vehicle inspection data. The use of SAFETYNET ensures that data electronically transferred to MCMIS are in a standard format and have successfully passed through a variety of edit checks.
Single A commercial motor vehicle consisting of a truck-tractor and a detachable trailer.
Special Study Ad hoc examination of particular items, usually inspected in support of a particular study or verification/refutation of a specific trend. This inspection type is a Level IV inspection.
Straight Truck A commercial motor vehicle in which the power unit and cargo box are non-detachable.
Terminal Inspection Examination of vehicles at carriers’ terminal facilities. Although the inspection methodology employed may vary, a Walk-Around technique is generally used. Terminal inspections normally focus only on the “vehicle” aspects of the inspection process. This inspection type is a Level V inspection.
Triple A commercial motor vehicle consisting of a truck-tractor and three detachable trailers.
Truck-Tractor A self-propelled motor vehicle designed and primarily used to draw other vehicles.
USDOT Number An identification number assigned to all interstate commercial carriers regulated by the FMCSA. The number is used to track the safety records associated with a given carrier.
Vehicle Configuration Arrangement of the individual units – truck-tractors, trailers, etc. – comprising a commercial vehicle.
Vehicle Violation A violation of the FMCSR or HRM.
Walk-Around Inspection Follows most procedures of the Full Inspection, except those actions which can only be accomplished by climbing underneath the vehicle (e.g., to measure brake performance). This inspection type is a Level II inspection.
Common Vehicle Configurations
Ability to pay A concept of tax fairness that states that people with different amounts of wealth or different amounts of income should pay tax at different rates. Wealth includes assets such as houses, cars, stocks, bonds, and savings accounts. Income includes wages, interest and dividends, and other payments
Adjusted gross income Gross income reduced by certain amounts, such as a deductible ira contribution or student loan interest
Amount due Money that taxpayers must pay to the government when the total tax is greater than their total tax payments
Appeal To call for a review of an irs decision or proposed adjustment.
Authorized IRS e-file Provider A business authorized by the IRS to participate in the IRS e-file Program. The business may be a sole proprietorship, a partnership, a corporation, or an organization. Authorized IRS e-file Providers include Electronic Return Originators (EROs), Transmitters, Intermediate Service Providers, and Software Developers. These categories are not mutually exclusive. For example,...
Benefits Received A concept of tax fairness that states that people should pay taxes in proportion to the benefits they receive from government goods and services.
Bonus Compensation received by an employee for services performed. A bonus is given in addition to an employee’s usual compensation.
Business A continuous and regular activity that has income or profit as its primary purpose.
Citizen or Resident Test Assuming all other dependency tests are met, the citizen or resident test allows taxpayers to claim a dependency exemption for persons who are U.S. citizens for some part of the year or who live in the United States, Canada, or Mexico for some part of the year.
Commission Compensation received by an employee for services performed. Commissions are paid based on a percentage of sales made or a fixed amount per sale.
Compulsory Payroll Tax An automatic tax collected from employers and employees to finance specific programs.
Deficit The result of the government taking in less money than it spends.
Dependency Exemption Amount that taxpayers can claim for a “qualifying child” or “qualifying relative”. Each exemption reduces the income subject to tax. The exemption amount is a set amount that changes from year to year. One exemption is allowed for each qualifying child or qualifying relative claimed as a dependent.
Dependent A qualifying child or qualifying relative, other than the taxpayer or spouse, who entitles the taxpayer to claim a dependency exemption.
Direct Deposit This allows tax refunds to be deposited directly to the taxpayer’s bank account. Direct Deposit is a fast, simple, safe, secure way to get a tax refund. The taxpayer must have an established checking or savings account to qualify for Direct Deposit. A bank or financial institution will supply the required account and...
Direct Tax A tax that cannot be shifted to others, such as the federal income tax.
Earned Income Includes wages, salaries, tips, includible in gross income, and net earnings from self-employment earnings.
Earned Income Credit A tax credit for certain people who work, meet certain requirements, and have earned income under a specified limit.
Electronic Filing (e-file) The transmission of tax information directly to the IRS using telephones or computers. Electronic filing options include (1) Online self-prepared using a personal computer and tax preparation software, or (2) using a tax professional. Electronic filing may take place at the taxpayer’s home, a volunteer site, the library, a financial institution, the...
Electronic Preparation Electronic preparation means that tax preparation software and computers are used to complete tax returns. Electronic tax preparation helps to reduce errors.
Electronic Return Originator (ERO) The Authorized IRS e-file Provider that originates the electronic submission of an income tax return to the IRS. EROs may originate the electronic submission of income tax returns they either prepared or collected from taxpayers. Some EROs charge a fee for submitting returns electronically.
Employee Works for an employer. Employers can control when, where, and how the employee performs the work.
Excise Tax A tax on the sale or use of specific products or transactions.
Exempt (from withholding) Free from withholding of federal income tax. A person must meet certain income, tax liability, and dependency criteria. This does not exempt a person from other kinds of tax withholding, such as the Social Security tax.
Exemptions Amount that taxpayers can claim for themselves, their spouses, and eligible dependents. There are two types of exemptions-personal and dependency. Each exemption reduces the income subject to tax. While each is worth the same amount, different rules apply to each.
Federal/State e-file A program sponsored by the IRS in partnership with participating states that allows taxpayers to file federal and state income tax returns electronically at the same time.
Federal Income Tax The federal government levies a tax on personal income. The federal income tax provides for national programs such as defense, foreign affairs, law enforcement, and interest on the national debt.
Federal Insurance Contributions Act (FICA) Tax Provides benefits for retired workers and their dependents as well as for disabled workers and their dependents. Also known as the Social Security tax.
File A Return To mail or otherwise transmit to an IRS service center the taxpayer’s information, in specified format, about income and tax liability. This information-the return-can be filed on paper, electronically (e-file).
Filing Status Determines the rate at which income is taxed. The five filing statuses are: single, married filing a joint return, married filing a separate return, head of household, and qualifying widow(er) with dependent child.
Financial Records Spending and income records and items to keep for tax purposes, including paycheck stubs, statements of interest or dividends earned, and records of gifts, tips, and bonuses. Spending records include canceled checks, cash register receipts, credit card statements, and rent receipts.
Flat Tax This is another term for a proportional tax.
Formal Tax Legislation Process This is another term for a proportional tax.
Form W-4, Employee’s Withholding Allowance Certificate Completed by the employee and used by the employer to determine the amount of income tax to withhold.
Foster Child A foster child is any child placed with a taxpayer by an authorized placement agency or by court order. Eligible foster children may be claimed by taxpayers for tax benefits.
Gasoline Excise Tax An excise tax paid by consumers when they purchase gasoline. The tax covers the manufacture, sale, and use of gasoline.
Gross Income Money, goods, services, and property a person receives that must be reported on a tax return. Includes unemployment compensation and certain scholarships. It does not include welfare benefits and nontaxable Social Security benefits.
Head of Household Filing Status You must meet the following requirements: 1. You are unmarried or considered unmarried on the last day of the year. 2. You paid more than half the cost of keeping up a home for the year. 3. A qualifying person lived with you in the home for more than half...
Horizontal Equity The concept that people in the same income group should be taxed at the same rate. “Equals should be taxed equally.”
Income Taxes Taxes on income, both earned (salaries, wages, tips, commissions) and unearned (interest, dividends). Income taxes can be levied on both individuals (personal income taxes) and businesses (business and corporate income taxes).
Independent Contractor Performs services for others. The recipients of the services do not control the means or methods the independent contractor uses to accomplish the work. The recipients do control the results of the work; they decide whether the work is acceptable. Independent contractors are self-employed.
Indirect Tax A tax that can be shifted to others, such as business property taxes.
Infant Industry A new or developing domestic industry whose costs of production are higher than those of established firms in the same industry in other countries.
Inflation The simultaneous increase of consumer prices and decrease in the value of money and credit.
Informal Tax Legislation Process Individuals and interest groups expressing and promoting their opinions about tax legislation.
Interest The charge for the use of borrowed money.
Interest Income The income a person receives from certain bank accounts or from lending money to someone else.
Intermediate Service Provider Assists in processing tax return information between the ERO (or the taxpayer, in the case of online filing) and the Transmitter.
Internal Revenue Service (IRS) The federal agency that collects income taxes in the United States.
Investment Income Includes taxable and tax-exempt interest, dividends, capital gains net income, certain rent and royalty income, and net passive activity income.
IRS e-file Refers to the preparation and transmission of tax return information to the IRS using telephone lines or a computer with a modem or Internet access.
Lobbyist A person who represents the concerns or special interests of a particular group or organization in meetings with lawmakers. Lobbyists work to persuade lawmakers to change laws in the group’s favor.
Long-Distance Telephone Tax Refund Taxpayers are eligible to file for refunds of all excise tax they have paid on long-distance service billed to them after Feb. 28, 2003.
Luxury Tax A tax paid on expensive goods and services considered by the government to be nonessential.
Market Economy An economic system based on private enterprise that rests upon three basic freedoms: freedom of the consumer to choose among competing products and services, freedom of the producer to start or expand a business, and freedom of the worker to choose a job and employer.
Married Filing Joint filing status You are married and both you and your spouse agree to file a joint return. (On a joint return, you report your combined income and deduct your combined allowable expenses.)
Married Filing Separate filing status You must be married. This method may benefit you if you want to be responsible only for your own tax or if this method results in less tax than a joint return. If you and your spouse do not agree to file a joint return, you may have to use...
Mass Tax A broad tax that affects a majority of taxpayers.
Medicare Tax Used to provide medical benefits for certain individuals when they reach age 65. Workers, retired workers, and the spouses of workers and retired workers are eligible to receive Medicare benefits upon reaching age 65.
Nonrefundable Credit When the amount of a credit is greater than the tax owed, taxpayers can only reduce their tax to zero; they cannot receive a “refund” for any excess nonrefundable credit.
Nullification A state’s refusal to recognize or obey a federal law.
Payroll Taxes Include Social Security and Medicare taxes.
Personal Exemption Can be claimed for the taxpayer and spouse. Each personal exemption reduces the income subject to tax by the exemption amount.
Personal Identification Number (PIN) Allow taxpayers to “sign” their tax returns electronically. The PIN, a five-digit self-selected number, ensures that electronically submitted tax returns are authentic. Most taxpayers can qualify to use a PIN.
Progressive Tax A tax that takes a larger percentage of income from high-income groups than from low-income groups.
Property Taxes Taxes on property, especially real estate, but also can be on boats, automobiles (often paid along with license fees), recreational vehicles, and business inventories.
Proportional Tax A tax that takes the same percentage of income from all income groups.
Protective Tariff A tax levied on imported goods with the purpose of reducing domestic consumption of foreign-produced goods.
Public Goods and Services Benefits that cannot be withheld from those who don’t pay for them, and benefits that may be “consumed” by one person without reducing the amount of the product available for others. Examples include national defense, streetlights, and roads and highways. Public services include welfare programs, law enforcement, and monitoring and regulating...
Qualifying Child To be a qualifying child, the dependent must meet eight tests: (1) relationship, (2) age, (3) residence, (4) support, (5) citizenship or residency, (6) joint return, (7) qualifying child of more than one person, and (8) dependent taxpayer.
Qualifying Relative There are tests that must be met to be a qualifying relative, they are: (1) not a qualifying child, (2) member of household or relationship, (3) citizenship or residency, (4) gross income, (5) support, (6) joint return, and (7) dependent taxpayer.
Qualifying Widow(er) filing status If your spouse died in 2010, you can use married filing jointly as your filing status for 2010 if you otherwise qualify to use that status. The year of death is the last year for which you can file jointly with your deceased spouse. You may be eligible to use qualifying...
Refund Money owed to taxpayers when their total tax payments are greater than the total tax. Refunds are received from the government.
Refundable Credit When the amount of a credit is greater than the tax owed, taxpayers can receive a “refund” for some of the unused credit.
Regressive Tax A tax that takes a larger percentage of income from low-income groups than from high-income groups.
Resources Factors needed to produce goods and services (natural, human, and capital goods).
Revenue The income the nation collects from taxes.
Revenue Tariff A tax on imported goods levied primarily to generate revenue for the federal government.
Salary Compensation received by an employee for services performed. A salary is a fixed sum paid for a specific period of time worked, such as weekly or monthly.
Sales Tax A tax on retail products based on a set percentage of retail cost.
Self-Employment Loss Self-employment income minus self-employment expenses, when self-employment income is less than self-employment expenses.
Self-Employment Profit Self-employment income minus self-employment expenses, when self-employment income is greater than self-employment expenses.
Self-Employment Tax Similar to Social Security and Medicare taxes. The self-employment tax rate is 15.3 percent of self-employment profit. The self-employment tax is calculated on Schedule SE—Self-Employment Tax. The self-employment tax is reported on Form 1040, U.S. Individual Income Tax Return.
Single Filing Status If on the last day of the year, you are unmarried or legally separated from your spouse under a divorce or separate maintenance decree and you do not qualify for another filing status.
Sin Tax A tax on goods such as tobacco and alcohol.
Social Security Tax Provides benefits for retired workers and their dependents as well as for the disabled and their dependents. Also known as the Federal Insurance Contributions Act (FICA) tax.
Software Developer Develops software for the purposes of (1) formatting electronic tax return information according to IRS specifications, and/or (2) transmitting electronic tax return information directly to the IRS.
Standard Deduction Reduces the income subject to tax and varies depending on filing status, age, blindness, and dependency.
Support For dependency test purposes, support includes food, clothing, shelter, education, medical and dental care, recreation, and transportation. It also includes welfare, food stamps, and housing provided by the state. Support includes all income, taxable and nontaxable.
Tariff A tax on products imported from foreign countries.
Taxable interest income Interest income that is subject to income tax. All interest income is taxable unless specifically excluded.
Tax Avoidance An action taken to lessen tax liability and maximize after-tax income.
Tax Code The official body of tax laws and regulations.
Tax Credit A dollar-for-dollar reduction in the tax. Can be deducted directly from taxes owed
Tax Cut A reduction in the amount of taxes taken by the government.
Tax Deduction An amount (often a personal or business expense) that reduces income subject to tax.
Taxes Required payments of money to governments that are used to provide public goods and services for the benefit of the community as a whole.
Tax Evasion A failure to pay or a deliberate underpayment of taxes.
Tax-Exempt Interest Income Interest income that is not subject to income tax. Tax-exempt interest income is earned from bonds issued by states, cities, or counties and the District of Columbia.
Tax Exemption A part of a person’s income on which no tax is imposed.
Tax Liability (or total tax bill) The amount of tax that must be paid. Taxpayers meet (or pay) their federal income tax liability through withholding, estimated tax payments, and payments made with the tax forms they file with the government.
Tax Preparation Software Computer software designed to complete tax returns. The tax preparation software works with the IRS electronic filing system.
Tax Shift The process that occurs when a tax that has been levied on one person or group is in fact paid by others.
Telephone Tax Refund Taxpayers are eligible to file for refunds of all excise tax they have paid on long-distance service billed to them after Feb. 28, 2003.
Tip Income Money and goods received for services performed by food servers, baggage handlers, hairdressers, and others. Tips go beyond the stated amount of the bill and are given voluntarily.
Transaction Taxes Taxes on economic transactions, such as the sale of goods and services. These can be based on a set of percentages of the sales value (ad valorem-sales taxes), or they can be a set amount on physical quantities (“per unit”-gasoline taxes).
Transmit To send a tax return to the IRS electronically. Tax returns prepared on paper can be sent through the mail.
Transmitter Sends the electronic return data directly to the IRS.
Underground Economy Money-making activities that people don’t report to the government, including both illegal and legal activities.
User Fees An excise tax, often in the form of a license or supplemental charge, levied to fund a public servic
User Tax A tax that is paid directly by the consumer of a good, product, or service.
Vertical Equity The concept that people in different income groups should pay different rates of taxes or different percentages of their incomes as taxes. “Unequals should be taxed unequally.”
Voluntary Compliance A system of compliance that relies on individual citizens to report their income freely and voluntarily, calculate their tax liability correctly, and file a tax return on time.
Volunteer Income Tax Assistance (VITA) This provides free income tax return preparation for certain taxpayers. The VITA program assists taxpayers who have limited or moderate incomes, have limited English skills, or are elderly or disabled. Many VITA sites offer electronic preparation and transmission of income tax returns.
Wages Compensation received by employees for services performed. Usually, wages are computed by multiplying an hourly pay rate by the number of hours worked.
Withholding (“pay-as-you-earn” taxation) Money, for example, that employers withhold from employees paychecks. This money is deposited for the government. (It will be credited against the employees’ tax liability when they file their returns.) Employers withhold money for federal income taxes, Social Security taxes and state and local income taxes in some states and localities.
23C Date The date an assessment is posted to the Master File. It is also the date the first master file notice is sent on a balance due account. Commonly referred to as the notice date or assessment date.
Account A tax record on magnetic tape in the Martinsburg Computing Center in West Virginia. Taxpayers tax data is identified by Social Security Number or by Employer Identification Number.
AIMS Serial Number A computer generated nine digit number assigned to each return as it is established on the AIMS system.
ATIN Is assigned by the Austin Campus as a result of an accepted Form W-7A application. This is a 9 digit temporary number beginning with “9” and the fourth and fifth digits “93”
Automated Non-Master File (ANMF) Accounts processed manually in the Accounting Branch.
Block Returns or documents grouped together for filing purposes. The ninth, tenth and eleventh digits of the DLN indicate the blocking series where the return is filed.
Business Masterfile Case Creation Notice Identification Process (BMF CCNIP) Application and database which has the ability to interactively identify, prioritize and select business Nonfiler tax delinquency cases using third party data secured.
Calendar Year Filer Taxpayer whose fiscal or filing year coincides with the calendar year ending in December.
Case File The examined return, related work papers, correspondence, etc.
Check Digit A check digit consists of two alphabetic characters. These characters are determined by the computer applying a mathematical formula to the Social Security Number or Employer Identification Number. Located above computer generated name line.
Claim – INFORMAL A letter or other document, not on Form 843, but prepared and signed by the taxpayer, requesting changes to obtain correct and accurate reflection of his/her tax liability.
Claim – FORMAL A request prepared by or for the taxpayer submitted on Form 1040X, 843, and 1120X to reduce liabilities previously assessed. It can also be an amended return.
Collection Location Code (CLC) The campus that will be responsible for the collection activities if needed.
Composite Mail Processing System (COMPS) This system will allow both incoming and outgoing mail to be processed at an increased rate of speed. This system has features such as remittance detection and a tape drive so that we can interface with our mainframe systems to update taxpayers’ accounts.
Control Date Recap (CDR) A summary of DLN control date of pre-journalized money amount listed on the corresponding tape of Master Control Records, Good/Error/Reject Block Proof Records, or Nullified Unpostables.
Control DLN The DLN under which a return is filed. May be the TC 150 DLN or a refile if subsequent adjustment has been made.
Controlling DLN This document locator number (DLN) controls the location of a return in the files. It can be an original return DLN or a new DLN assigned to certain examination or collection adjustment documents (also known as Refile DLN).
Control Record Listing (CRL) A consolidated listing of all records processed on the SCCF on a given day. This contains five major sub-sections: Master Control Record Listing Adjustment Control Listing Good/Error/Reject Block Proof Listing Renumbered Transaction Listing Nullified Unpostable Listing.
Customer Account Data Engine (CADE) Modernized database that is incrementally replacing the Individual Master File (IMF).
Cycle If the transaction was posted by the new system called CADE, the Cycle will be displayed as follows: 20050601 – This means it posted in the year 2005, the 6th cycle and posted on Monday 2005 = year 01-52 = cycle 01-07 = day of the week 01 = Monday, 02 = Tuesday, 03=Wednesday,...
Cycle Proof Listing (CPL) A listing of all blocks in which all documents have been sent to master file or rejected. This listing is used to shelve and associate all returns and documents in the files area.
Daily Block Proof Summary (DBPS) A computer printout created daily as a management tool to monitor receipts, inventories, and processed volumes.
Daily Transaction Register (DTR) Consists of information regarding the posting of payments, time of filing, and address information.
Data Facts. For example, in processing individual income tax returns, that group of facts peculiar to a particular taxpayer.
Data Base A data base is an organized grouping of data to fit the information needs of multiple functions of an organization. The data base can be manipulated through an on-line realtime system. A data base is accessed by using a command code.
Data Communication Processing System (DCPS) The DCPS is also referred to as the “front-end” processor, the “Traffic Cop”, or the Sperry 90/40 front-end processor. “Traffic Cop” is a good nickname, since the equipment directs your command code terminal entry to a file (data base) where you may research or make changes.
Deposit Ticket Tape Deposit ticket tapes produce listings that are used by the reconciliation function in RPS for balancing purposes.
Designated Payment Code (DPC) A payment designated by the taxpayer for a type of tax.
Discriminant Function (DIF) At the ECCs, tax returns are given a computer-generated score called DIF (Discriminant Function) score, which identifies those returns with tax change potential. This is most often associated with the examination function.
Disk or Diskette Storage media for computer data. Disk refers to an individual platter constructed of a metal alloy which contains tracks cut into the platter so that a magnetic head can read or write on it. Diskettes are mainly constructed of a vinyl or plastic covered with a cardboard jacket. It also contains tracks....
Disk Drive Refers to the physical hardware that holds a diskette or cartridge. The disk itself may be physically or dynamically removable or non-removable depending on the design. The disk drive may take a floppy disk,, disk cartridge, or it may contain fixed hard disks.
Distributed Input System (DIS) The Distributed Input System (DIS) is the on-line realtime system that replaced the Directed Data Entry System (DDES) located in the Data Conversion Branch. The primary purpose of the DIS is for the data entry of a wide variety of tax returns and other tax related forms or documents.
District Office (DO) Now known as Area Offices – One of the major divisions of a region, usually a state.
Document A tax form, voucher, or written evidence of a transaction.
Document Code (DOC Code) The code which identifies the specific type of return or document that was filed or processed. The document code is the fourth and fifth digits of the DLN.
Downline Load The transfer of a program or data file from a control computer (master node) to a remote computer.
Down Time The period of time when the computer system is not operational.
Drain Process used in DIS and RPS to clear all nodes of data.
Dummy Module A TIF account tax module that has not been fully updated from master file or is not at master file. It contains name control, TIN, MFT and tax period and will be replaced by the true tax module when the generated TC 902 finds a match on the Master File.
Employer Identification Number (EIN) A nine-digit number, also referred to as the EI number, used to identify business taxpayers on the Business Master File. The first two digits represent the district office code
Employee Plans Master File The Employee Plans Master File (EPMF) is a master file maintained at MCC. This file consists of various types of tax sheltered Pension/Profit Sharing Plan. The plans are plans that are adopted by (a) employers, (b) sponsors (e.g. labor unions) and (3) self–employed individuals. This file is maintained in Employer Identification...
Encoder The hardware equipment that writes the magnetic information character recognition (MICR) on the bottom of incoming checks. It also prints identifying information on the back.
End-of-Day Processing (EOD) Processing that occurs at the end of each day. This process uses the gendata records produced by Realtime and transactions from GMF to send transactions to Master File for posting.
Enforcement Revenue Information System (ERIS) ERIS is a new tracking system which will extract information for reports from existing systems. When fully implemented, it will track an account from the beginning of an examination through the collection activity.
Enterprise Computing Center (ECC) Located in Martinsburg, West Virginia, this center houses the master file records for the entire nation. Previously known as Martinsburg Computing Center (MCC).
Entity The portion of the master file record which identifies the taxpayer. It contains the name, address and SSN or EIN.
Entity Index An index of all entity modules at a given service center, used by DIS when inputting returns. This is updated periodically by the centers.
Entity Module Is that portion of the master file record which identifies the taxpayer. It contains his/her name, address, Social Security or Employer Identification number, employment code if applicable, name control, location codes, filing requirement codes, tax period, and date of establishment. In the case of IMF it also includes filing status, spouse’s name and...
ERISA Filing Acceptance System (EFAST) EFAST is a system, built and operated by NCS Pearson in Lawrence, Kansas, under contract to the Department of Labor, to process Form 5500 series returns. EFAST replaced IRS pipeline processing of the 1999 plan year returns in July 2000 and all plan year returns in July 2001. EFAST-processed returns...
Error Resolution System (ERS) An on-line real-time error correction system where information is virtually immediately corrected and updated on the SCCF. The information within a block must be corrected sequentially. This is a quality control feature that forces all errors within a block to be corrected.
Extension Notice Code A two digit code assigned to Forms 2688/4868 identifying if the applications for extension of time to file returns were fully approved, granted 10–day approvals or denied, and the reason for the action taken.
Federal Tax Deposit (FTD) Until December 31, 2010 under the Federal Tax Deposit System, a taxpayer did not make payments to the Internal Revenue Service. Instead, taxpayers would deposit payments with a Federal Reserve Bank (FRB) or an authorized commercial bank. The taxpayer used an FTD form supplied by IRS in a coupon booklet format....
File A file is a collection of related records. However, unlike a data base, the file does not have to be organized. Normally files are not accessible unless you use a realtime program to organize the data for you.
File Source A one digit code which follows the Taxpayer Identification Number (TIN) The common values are: Blank: valid SSN or EIN V: valid SSN on BMF D: Temporary TIN P: valid EPMF EIN N: NMF *: invalid SSN on IMF W: invalid SSN on BMF
File Year The 14th digit of the DLN will show the calendar year the document was numbered.
Fiscal Year Filer Taxpayer whose fiscal or filing year ends in a month other than December.
Fiscal Year A twelve month accounting period.
Freeze Code This could be on Master File or on AIMS AIMS—The code indicating that certain types of updates and closing actions will be prevented until the restriction (freeze code) is removed. Refer to Section 12 Master File—A freeze places a taxpayer’s account in a condition which requires additional action before the account can be...
Front-End Processor The Front-End Processor is also referred to as the Data Communication Processing System (DCPS) or the “Traffic Cop”. The equipment directs your command code terminal entry to a file (data base) where you may research or make changes.
Gendata Records that are generated for every type of transaction input through realtime processing that affect information on one or more of the data bases. These records are used for control and balancing.
General Ledger File A file within RACS which posts journal entries to specific accounts and keeps balances of those accounts by month or fiscal year.
Generalized Mainline Framework (GMF) The software program that provides for the processing of tax forms and tax related data on the Unisys system
GMF String Another name for GMF runs or the sequence of individual tasks that comprise the job stream, such as GMF01, 03, 04, 05, etc.
Historic Transcript A computer generated listing of DLN’s being removed from the SCCF (Service Center Control File) with closed balances. This transcript should be produced at least once a month and is used for research purposes
Housekeeping Basic system operations that ensure consistent data processing. This can involve printing reports and generating and verifying system information.
Individual Master File (IMF) A file containing information about taxpayers who file individual income tax returns (1040 series) and related documents.
Individual Validation Listing (IVL) A listing of cases in AIMS inventory grouped by source codes.
Input Document Those documents which contain information to be fed into the computer, such as tax returns and posting vouchers.
Installment Agreement Record A record in IDRS containing installment agreement information
Installment Agreement Record A record in IDRS containing installment agreement information. Integrated Data Retrieval System (IDRS) – A computer system with the capability to instantaneously retrieve or update stored information. IDRS works in harmony with the master file of taxpayer accounts. This system is aimed at quick resolution of problems and queries concerning current taxpayer...
Integrated Data Retrieval System (IDRS) A computer system with the capability to instantaneously retrieve or update stored information. IDRS works in harmony with the master file of taxpayer accounts. This system is aimed at quick resolution of problems and queries concerning current taxpayer accounts.
Invalid Number Taxpayer’s name and Social Security Number do not agree with the SSN furnished or do not match Social Security records. On MCC or IDRS transcripts, an asterisk (*) follows the invalid number.
Invalid Segment That part of the Individual Master File that contains Social Security Numbers or names that do not match with Social Security records.
Inventory Validation List (IVL) A list of accounts currently on the AIMS data base. The purpose of validating inventory is to maintain the integrity and accuracy of AIMS by comparing the physical inventory with the AIMS inventory.
IRS Number Classification number given to various classes of excise or special tax liability. (Lubricating oil, IRS 63; Retail Liquor Dealer, IRS 06)
ITIN Is assigned by Austin Campus as a result of an accepted Form W-7/W-7SP application. This is a 9 digit valid permanent number beginning with “9” and fourth and fifth digits being “70”-”80”. Appears on MCC or IDRS transcripts with an asterisk (*) and pound sign (#) differentiating it from Temporary SSN which are invalid.
Job A collection of specific tasks constituting a unit of work for a computer.
Julian Date The numeric day of the year that the return or document was numbered for processing. (For example: January 15 +MC 015). The sixth, seventh and eighth digits of the DLN represent the Julian Date. Note: If the DLN is IDRS generated, this date will be incremented by 400 so January 15 would be...
Key Verification (KV) The process of verifying original entry (OE) data on a terminal.
Labels AIMS provides three types of labels: audit (status), file, and address labels. Audit labels are used on AIMS forms for requisitions, updates, closings and corrections. The file labels are used to identify returns in various files and for group control cards. The address labels are used on correspondence with the taxpayer.
Long Closing The AIMS closing of examined returns and surveyed claims. A long closing uses Form 5344 (Exam), Form 5599 (EO), and Form 5650 (EP).
Machine language The language at its lowest level in binary form (001111100), into which data and programs must ultimately be translated before the machine can use it and execute any instructions.
Magnetic Tape (Mag Tape) Magnetic tapes are made of flexible plastic with only one side coated with a magnetic recording material. Tapes come in reels, cartridges, or cassettes of all sizes — just like audio tapes. Information is usually recorded on tape in parallel tracks that run the entire length of the tape. Tapes are...
Mainframe Mainframe means large computer. Mainframes have faster processing speeds than smaller systems. The mainframe also houses the CPU.
Master Control Record (MCR) This is basically the DLN and ABC identifier along with other block header information of a given block. This data is gathered through input from DIS, OCR, RPS and IDRS to create the block on the SCCF. This allows for identification of a block of work from its inception. If the...
Master File (MF) A magnetic tape record containing all information regarding the taxpayer’s filing of returns and related documents.
Master File Tax Code (MFT) The MFT reduces the numerous types of tax to a two digit code
Microfilm Replacement System (MRS) The Microfilm Replacement System (MRS) is a realtime mode that supports a myriad of functions. It is accessed through, and provides direct retrieval of master file data, via IDRS realtime and DIS or Zilog input. This automated system replaced most microfilm research of tax data in the service center district office....
Microfilm Serial Number This is a 10–digit number assigned to FTD’s during the OCR scanning process. This has increased to a 12 digit number during SCRIPS processing.
Modem A device for converting signals to be transferred over telephone lines.
Name Control The first 4 letters of the taxpayer’s last name (in the case of individuals) and the first 4 letters of the business name (in the case of partnership, corporations etc.). The name control is used to check master file and assure that the TIN corresponds with the proper taxpayer.
Net Tax Refund Report (NTRR) A report generated at each service center stating the net tax refund amounts.
Non–Computed Taxpayer files an incomplete tax return. He signs the return and attaches Forms W–2. The computer will calculate the tax and issue a notice. The notice will advise the taxpayer whether he owes tax or will receive a refund. If the return appears on the error register, a non–compute code of “2” will be...
Non–Examined Accepting a tax return as filed during the initial screening or classification or by survey (other than the survey of a claim). A non–examined case is given a “short closing’’ to close the return off the AIMS system.
Non-Prejournalized (NPJ) Batch Recap A list of all non-remittance blocks established on the SCCF from Form 2345.
Notices Computer-generated messages resulting from an analysis of the taxpayer’s account on the master file. The types of notices and their purposes are: Settlement Notice – Notices of assessments of tax due, payments, adjustments, balance due, or overpayment which are sent to taxpayers. Taxpayer Inquiry Letter – Requests to the taxpayer for additional information or...
Nullified Unpostable (NU) An unpostable item that cannot be corrected by normal GUF correction procedures. It is removed from the unpostable file and established on the SCCF.
Offsetting In or Out Computer action taken when a taxpayer has overpaid one module and underpaid another. By offsetting in and out the overpayment is applied to the underpaid module and refund or bill issued as applicable.
Off-Site Equipment located other than locally.
On-Line Terminal and data bases that are interconnected through the computer system.
On-Site Equipment located locally.
Optical Character Recognition (OCR) A type of equipment that can scan (read) hardcopy information and translate it into machine readable language.
Original Entry (OE) Term used in DIS for the first entry of data through a terminal
Orphan Blocks Data blocks that have not been completely processed for one or more reasons. These blocks may also be called overage.
Overage Returns that files cannot shelve because they are not on the cycle proof listing.
Pending Transaction A transaction input to IDRS but not yet effective at the Master File account. See Section 13 for Identification Codes.
Perfection The process of correcting or perfecting a record of segment of data.
Piecemeal Realtime Each IDRS file may have its own realtime availability hours to allow for batch processing of the file. Also, if problems exist with one or more files, certain command codes may not be available while others are.
Pipeline The standard flow of processing for all tax returns and related documents through the automated processing systems at the service centers for posting to a master file at NCC.
Posting Table A sophisticated RACS computer application program which receives the screen input data and directs it to the correct General Ledger File account and subsidiary files.
Pre-Batch Manual processing function that blocks and assigns DLN’s to incoming paper documents for processing.
Pre-Journalized (PJ) A computer generated printout of the prejournalized balances on the SCCF. It consists of a control date recap, a summary of the in-process amounts, and a future DLN Listing.
Processable A processable return is one that meets all the requirements for acceptance to a specified program.
Profile A file containing the authorized command codes for each terminal operator.
PTIN Is assigned by the Philadelphia Campus as a result of an accepted Form W-7P application. This is a 9 digit valid permanent number beginning with the alpha “P” followed by 8 numerics.
Queue A sequential waiting pattern for information to be processed by the computer. normally used to refer to batch jobs waiting to be processed (French for “line”).
Raw Data Data before it has been processed, which may not be in a form comprehensible to the machine.
Realtime Realtime computer systems are designed to respond to user transactions instantly. Most of IRS employs batch systems that consolidate transactions to process at a later time. Realtime would mean transactions would post immediately upon entry. Realtime generally refers to the time a system is available for use.
Recognition Equipment Incorporated (REI) A third-party vendor supplying OCR equipment.
Refile DLN DLN assigned to a return or other document after an audit of Campus adjustment has been completed. The tax return and related documents are filed under this refile DLN rather than the original DLN. Refile DLNs can be identified by the 4th and 5th digits of the DLN. A 47 document code means...
Reinput A document that has not posted to the master file, which is usually sent back through DIS for input a second time.
Reject A numbered return or document that is removed from pipeline processing because of an unprocessable condition.
Remittance Processing Device (RPD) A multifunctional work station used in RPS for processing documents.
Remittance Processing System (RPS) A computer controlled system that allows payments and documents to be processed at a multifunctional work station
Reprocess Documents that previously posted to an incorrect TIN or tax period must be reprocessed to the correct TIN or tax period that does not contain a TC 150. Document should not be reprocessed to a module containing a TC 150, or if the statute for assessment has expired for the tax period involved.
Reprocessable A document that has posted to the master file with erroneous data. It is reestablished on the SCCF and processed with the correct data and the same DLN. These records will contain an “R” source code on the SCCF.
Retention Register Contains all entity and tax modules removed from the Master File. The basic criteria for removal of a tax module are: (1) the assessed module balance is zero and the last transaction (including the return) has been posted 51 or more months; (2) the assessed module balance is credit and the last transaction...
Revenue Receipts Control Sheet (RRCS) A breakout by tax class for the prejournalized, other prejournalized and future amounts being transferred to NCC on the transaction tape.
Run Term used to identify a job or a portion of a job. Also used to explain that the job string needs to be processed. (Example: GMF needs to be run.)
Scan Optics A third party vendor supplying OCR equipment.
Scanning Device Part of the OCR equipment that can read/scan hardcopy information.
SCCF Aged Transcript A computerized listing of all DLN’s with open balances on the SCCF and no activity for six cycles (three cycles for BOOB).
Scrambled SSN Two taxpayers with the same SSN and name control on the Master File. Temporary SSNs are assigned to both taxpayers until problem is resolved
Security File The IDRS file that contains, for security purposes, significant data concerning each user and each terminal in the system.
Sequence Number The sequential number assigned by a tax examiner to each ADJ54 adjustment input each day. The last three digits of the Terminal Payment Number, which identifies a specific remittance input through a terminal.
Service Center Control File (SCCF) The Service Center Control File is a block control of all numbered documents that are processed in the service center.
Service Center Delete An accounting block to be removed from the service center transaction tape before release to MCC. The blocks are deleted by the tape processor.
Short Closings An AIMS closing of a non–examined return (other than a survey of a claim).
STAUP Command code used to delay issuance of service center notices
Status Codes The two-digit alpha-numeric indicators that show the current status of a case.
String of Runs A series of tasks that comprise a project. For example, GMF01, 03, 04, 05, 07, etc., is a string of GMF runs.
Subsidiary Files Collected reporting data used to provide various reports and perform various balancing functions with NCC.
Substitute For Return (SFR) A procedure by which the service is able to establish an account when the taxpayer refuses or is unable to file and information received indicates that a return should be filed.
Suspended Status Module in IDRS status 41, 42, 43, 44, 46, 47, 48, 71, 72, or 91; and or IDRS 914 or 47X Hold is in effect.
Suspense The process of placing one document on hold status for a variety of reasons. This will allow the other documents within the block to be processed.
System A set of related components and events that interact with each other to accomplish a task.
Tape Drives The hardware device that holds, reads, and writes to the magnetic tapes.
Tape Edit Program (TEP) This is the computer application program GMF-15, which is the last step in transaction processing before the tapes are released to NCC. The TEP deletes any record that fails certain validity checks or that is identified for deletion by the Block Delete Card generated out of the SCCF.
Tape Module The segments of the master file that contain information on tax processing. This will contain the DLN and status of each tax document processed. There can be more than one of these modules for each taxpayer.
Tape Sequence Number (TSN) The sequential number assigned to each block on the transaction tape when it is prepared for release to MCC. Each Good Block Proof Record on the CRL will identify the TSN. All service center and MCC deletes will use the number to locate records to be deleted from the transaction tape.
Tax Module Part of a taxpayer’s account which reflects tax data for one tax class (MFT) and one tax period. For example: Taxpayer has filed 3 Forms 1120, 12 Forms 941 and 3 Forms 940 within a three year period. He has only one account on the Master File but 18 tax modules. Taxpayer filed...
Tax Period The period of time for which a return is filed. The Service uses a six digit code to indicate the end of the tax period for a given return. (The first four digits represent the year and the next two digits represent the month).
Taxpayer Delinquent Account (TDA) A computer generated printout indicating that the taxpayer’s account has reached a delinquent status. TDAs are sent to the respective districts for collection action.
Taxpayer Delinquent Investigation (TDI) A computer generated printout indicating that a taxpayer is delinquent filing a return. TDIs are sent to the District Offices for collection.
Taxpayer Identification Number (TIN) Every taxpayer on the master file has a permanent number for identification of the tax account. The employer identification number (EIN) is used to identify a taxpayer’s business account. The social security number (SSN) is used as the account number of an individual taxpayer. ...
Taxpayer Information File (TIF) A file containing entity and tax data processed at a given service center for all TIN’s.
Temporary SSN Is assigned by the Campus. On MCC or IDRS transcripts an asterisk (*) appears following the invalid number. The fourth and fifth digit is the Campus number.
Terminal Payment Number A 13 digit number established each day for each terminal from which remittance will be input. The last three digits are the sequence number of the payments input.
Transaction Code A three digit code used to identify actions being taken to a taxpayer’s account. See Section 8.
Transcript Research System (TRS) The Transcript Research System (TRS) is a realtime mode that supports a myriad of functions. It is accessed through, and provides direct retrieval of, mater file data via IDRS realtime. This automated system replaced most microfilm research of tax data in the service center and district office. This system was previously...
Unpostables (UP) Data that cannot be posted (updated) to a master file due to an unprocessable condition such as an incorrect TIN, date or transaction code.
Users Employees who use terminals to update, change, correct or add data to various computer systems
Universal Location Code (ULC) The processing campus associated with where the taxpayer resides.
Absentee balloting materials: Postcard applications, ballots, voting instructions, and envelopes sent through the mail without postage prepayment. This public service enables U.S. expatriates, members of the Armed Forces in active service, and the U.S. Merchant Marine (and their spouses and dependents) to apply for registration and to vote when absent from the place of voting...
Accelerated Career Entry Program A developmental curriculum for new employees to gain knowledge, skills, abilities, and experience in positions identified with mission critical skill sets
Accelerated reply mail (ARM) Origin Caller Service provided for barcoded reply mail at a postal facility other than the one to which the caller’s mail is actually addressed. Reply mail from the caller’s customers is captured on processing equipment programmed to include the unique ZIP+4 barcode assigned to the caller as part of the scheme...
Term The headword to be defined. It appears in boldface type and, if trademarked or registered, shows the appropriate trademark (™) or registration mark (®) symbol. Every term entry includes a term.
Definition A statement that presents the meaning of the term. Some definitions contain multiple parts or meanings. Some definitions include descriptors in parentheses before the statements (e.g., (informal), (obsolete). (philatelic)). Not every term has a definition if the term is an unofficial form with a cross-reference to the official form (e.g., (See postal money order.)...
Cross-Reference A direction to go to the official presentation of the term (e.g., (See postal money order.) for the entry money order). A signal to see another related term (e.g., (See also saturation price.) for the term high density price). Also a signal to compare a related term (e.g., (Compare with area and district.) for...
Function A two-letter code that indicates the principal area within the Postal Service that uses or originated the term. Every term entry includes a function. Function Codes Code Function AM address management CA consumer affairs CO communications and public affairs CR customer relations DE delivery EN engineering FA facilities FI finance GC general counsel GR...
Accepts The total number of mailpieces processed by an optical character reader or barcode reader and assigned to the correct stacker (open bin).
Accountable Mail Mail that requires the signature of the addressee or addressee’s agent upon receipt to provide evidence of delivery or indemnification for loss or damage. Accountable mail includes Priority Mail Express service and Special Service mail such as Certified Mail, Collect on Delivery, Insured Mail for more than $200, Registered Mail, Return Receipt, and...
Accountable Materials Certain items of inherent monetary value. These include postal items such as International Reply Coupons, postage stamps, philatelic products, Stamped Envelopes and Stamped Cards, blank Postal Money Order forms, or any unsold item awaiting destruction. Accountable materials also include service items provided to the general public on half of certain federal agencies such...
Account identifier code (AIC) A three-digit code that assigns financial transactions to the proper account on the general ledger. Each AIC is assigned to a corresponding general ledger.
Accounting Data Mart (ADM) A section of the Enterprise Data Warehouse that contains accounting and financial information.
Accounting Period (AP) A period that forms one twelfth of the postal fiscal year. Each accounting period corresponds to a calendar month and is numbered from the beginning of the fiscal year that starts on October 1 (e.g., AP 1 is October, AP 2 is November).
Active Delivery Point A delivery point that is currently occupied or vacant less than 90 days.
Activity Code A one-digit number that indicates the functional area in which an employee is assigned. The activity code is usually joined to the two-digit designation code as a second element and called designation/activity code.
Actual Count (AC) The exact numerical count of all mail classes and products worked.
Additional Entry Presenting a Periodicals mailing at an authorized Post Office other than the office of original entry
Additional Entry Office A Post Office other than the office of original entry where a publisher is authorized to mail a Periodicals publication.
Additional Mailing Office A Post Office other than the original mailing office used to mail nonprofit Standard Mail pieces.
Address The location to which USPS is to deliver a mailpiece. It consists of certain elements such as recipient name, street name and house number, and city, state, and ZIP Code as required by the mail class or product.
Address Block The area on a mailpiece containing the address to which USPS is to deliver a mailpiece.
Address Change Service (ACS™) An automated address correction process that provides to participating mailers a data file containing change-of-address and undeliverable-as-addressed information. ACS is used in conjunction with Ancillary Service endorsements Change Service Requested and Address Service Requested. Three ACS products are available: (a) traditional ACS, in which the mailer modifies the address block...
Addressee The person or organization to which a mailpiece is addressed as shown in the delivery address. It is normally the intended recipient of the mailpiece.
Address Element Correction (AEC) A process that identifies and revises incomplete or incorrect computerized address files and then attaches ZIP+4 and carrier route codes. It entails computer matching address records that cannot be coded using CASS-Certified address matching software. AEC can correct or add missing address elements (e.g., directionals like N or NW or street...
Address Enhancement Services (AES) A designation in the competitive products category for Address Information System products.
Address Information System product (AIS product) A raw database file made available to customers to enhance address standardization, obtain detail address information, and correct address records. AIS products include applications and electronic files such as Carrier Route, City State, Delivery Statistics, Enhanced Line of Travel (eLOT), Five-Digit ZIP, TIGER/ZIP+4, Z4Change, ZIP+4, and ZIPMove. Also called...
Address Information System Viewer A system that provides the ability to retrieve, view, and print accurate and current ZIP Code information. It enhances the accuracy and currency of all information provided. Available product reporting options include Address Lookup, City/State/Delivery Type, County Name Retrieval, Delivery Statistics Retrieval, and ZIP+4 Retrieval.
Addressing (1) The act of writing or printing a delivery address on a mailpiece or an address label affixed to a mailpiece. (2) The various activities entailed in address management such as developing and maintaining address lists and applying addresses to mailpieces in a mailing
Address Management (AM) (1) The development and maintenance of address lists. (2) (capitalized) An organizational unit that provides policy and systems for the national address database, mailing list services, address correction service, forwarding, and other related addressing services.
Address Management Services (AMS) A stand-alone Special Service available for a fee that mailers use to correct name and address lists, to correct occupant lists, to sort mailing list addresses to the finest possible ZIP Code level, or to sort mailing lists on cards by 5-digit ZIP Code. The Special Service includes address management products...
Address Matching System Application Programming Interface (AMS API) Software used to develop address matching software. AMS API gives access to USPS matching logic that can be used to verify the accuracy of ZIP+4 returns. AMS API may be integrated within a manufacturers’ product and redistributed by the manufacturer.
Address Quality Reporting Tool (AQRT) A Web-based application that uses possible data discrepancies to assist in identifying delivery routes to improve address quality.
Address Sequencing An Address Management Service in which address cards are arranged in order of delivery for city routes, rural routes, highway contract routes, and Post Office Box sections. For a qualifying mailer, address cards with either blank cards added (for missing addresses) or cards containing missing and new addresses may be added. Electronic Address...
Adhesive (1) The gum or glue on the back of a postage stamp. Stamp adhesive may be either wateractivated or pressure-sensitive. (2) An adhesive stamp or label affixed to a mailpiece cover.
Adhesive Stamp A gummed stamp, either self-adhesive or with mucilage requiring moistening, that is designed to be affixed to mail.
Adjustable Platform Stool A stool with a heavy base, adjustable for height and angle, used by clerks doing manual distribution. Informally, also called leaner and rest bar.
Adjusted Service Commitment exclusion period (ASC exclusion period) The time during the year (the holiday mailing season in December) when service measurement results for Priority Mail, Priority Mail Express, Priority Mail Express International, and 3- to 5-day First-Class Mail services are not factored into the cumulative year-to-date scores for service products. During the exclusion period,...
Adjustment Processing System (APS) A software application used to make payroll adjustments for employees other than rural carriers and their replacements for data obtained from PS Form 2240, Pay, Leave, or Other Hours Adjustment Request.
AdjustPay A Web-based application that enables a supervisor to review an employee’s history of paid hours and to authorize a limited number of payroll adjustment changes.
Administrative Support Facility (ASF) A single-function organization that typically serves the entire organization and reports directly to Headquarters (e.g., an accounting service center).
Adult Signature A Competitive Ancillary Service that requires the recipient of the mailpiece to be 21 years of age or older. The service has two options: (a) Adult Signature Required, in which anyone 21 years of age or older at the delivery address may sign for the mailpiece; and (b) Adult Signature Restricted Delivery, which...
Advanced Computing Environment (ACE) A systematic and cost-effect approach to manage information technology (IT) infrastructure by centralizing acquisition, development, and maintenance. ACE includes applications and data, information technology services, and information technology infrastructure, along with technical information, design rules, configuration details, and procedures appropriate to transition from centralized to distributed computing.
Advanced Dispatch A dispatch of mail made early enough to arrive at the destination facility before the critical entry time for that facility.
Advance Deposit Account A liability account into which a mailer deposits funds that are maintained by USPS to pay for future services used by the mailer such as permit imprint mailings, Business Reply Mail pieces, postage due mail, or Periodicals. Also called trust fund account.
Advanced Facer Canceler System 200 (AFCS 200) A major upgrade to the Advanced Facer Canceler System with Optical Character Reader (AFCS/OCR) that retains all the functionality of the AFCS/OCR and adds image-based indicia detection, a switchback module that switches trail-oriented mail to lead orientation, a POSTNET barcode printer, and a two-tier 12-bin stacker module. The...
Advanced Facer Canceler System with Optical Character Reader (AFCS/OCR) A machine with many components that culls, faces, and cancels through a series of automated operations First-Class Mail lettersize pieces received primarily from collection mail. The machine first culls or removes pieces that are too thick, too stiff, too long, or too tall. It then reads...
Advanced Leadership Program (ALP) A career development program for mid-level, non-executive managers who are identified as potential successors in Corporate Succession Planning.
Advance Notification A system that transmits information from mail.dat and Postal One! data via Facility Access and Shipment Tracking (FAST) system to business mail entry units and processing facilities about the name of the mailing, approximate size, induction location, and approximate induction date.
Advance Notification and Tracking System An Internet-based application that facilitates the delivery and tracking of qualified Standard Mail pieces and Periodicals pieces with specific in home delivery windows. It also provides mailers with delivery performance reports and data for each mailing.
Advertising Portion For price eligibility, the part of an authorized Periodicals publication that contains all material for which a valuable consideration is paid, accepted, or promised, that calls attention to something to get people to buy it, sell it, seek it, or support it and also includes the publisher’s own advertising. The advertising portion is...
AEC II Service An enhancement to Address Element Correction that identifies and corrects nonmatching addresses using the computer program Delivery Force Knowledge™. The addresses are submitted, via AEC II, to delivery units to resolve address elements or determine the existence of the addresses.
Aerogramme (obsolete) A postage-paid letter-size sheet of lightweight paper that was folded into an airmail envelope for correspondence to other countries. Enclosures were not permitted. Aerogrammes were discontinued in 2007.
Aerophilately (Philatelic) Stamp collecting that focuses on stamps, postage, covers, and other philatelic materials that relate to airmail.
Air Contract Transportation Tag (ACT Tag) A printed barcoded tag that bears information for routing mail containers to be transported by contracted air carriers.
Airlift The movement of mail by air taxi operators and air carriers.
Airmail (1) The transport of mail by air transportation. (2) A service by which international mail receives First-Class Mail service domestically, is dispatched by the most expeditious transportation, and receives air or priority handling in the destination country.
Airmail Label A gummed or self-adhesive label applied to a mailpiece sent at the international airmail price. The label includes “Airmail” and “Par Avion” (French for “by airplane”).
Airport Mail Center (AMC) (obsolete) A postal facility at an airport that received, concentrated, transferred, dispatched, and distributed mail transported by air. The last AMC was closed in 2010.
Air Sack (Informal) A sack, often an overflow sack, containing few pieces of mail. Also called skin sack.
Air Tray (Informal) A tray, often an overflow tray, containing few pieces of mail.
A-Label Service (Informal) Priority Mail Express Hold for Pickup Service, so called because the similar prior service Priority Mail Express Post Office to Post Office Service used Label 11-A. Priority Mail Express Hold for Pickup Service actually uses Label 11-HFPU.
All-Purpose Dating Stamp A handstamping device for imprinting (in red ink) the date, the name of city, and the Post Office branch or Post Office station on Registered Mail pieces and nonmail items such as receipts. Also called round-dater stamp.
Alpha Test A test that explores the interaction and consistency of successfully tested units such as new mail processing equipment. It generally means that interfaces, global data structures, and developed software module combinations are considered. The test is normally done by the developer, often in a laboratory environment.
Alternate Access Channel A customer access point to postal products and services other than through a traditional postal facility such as a Post Office staffed by employees. Alternate access channels include Automated Postal Center kiosks; contract postal units; online services such as Click-N-Ship service at usps.com; Stamps on Consignment sold through commercial outlets such as...
Alternate Delivery Service A delivery method that does not require a carrier. Caller Service, firm holdout, Post Office Box service, and general delivery are alternate delivery services.
Alternate Mailing System (AMS) An authorized procedure that provides other methods for accepting permit imprint mail, outside a Manifest Mailing System or an Optional Procedure, to ensure proper postage payment and mail preparation without verification by weight.
Alternate Postage Payment Method for Greeting Cards An experimental product that provides a means by which individuals can mail greeting cards without affixing postage. The company producing the cards pays postage through a two-stage process. First, at least 50 percent of the postage is paid to USPS based on the company’s reports of how many...
Alternate Work Schedule (AWS) A program for eligible, full-time FLSA exempt employees that allows them to work extended days during each 2-week pay period to meet the full-time requirements of their positions in fewer than the usual 10 days. The expectation is that participants will generally work a minimum of 40 hours each week, subject...
Alternative Addressing Format An authorized option to the standard delivery address format such as a simplified address, occupant address, or exceptional address.
Alternative Delivery A nonpostal method to distribute or deliver mail matter. For example, facsimile and electronic funds transfer in place of First-Class Mail service; freight forwarding in place of Package Services, Priority Mail service, or Priority Mail Express service; private carriers in place of Periodicals or Standard Mail service.
Alternative Fuel Vehicle AFV A postal vehicle that uses cleaner-burning alternative fuels such as ethanol, methanol, propane, hydrogen, electricity, and compressed natural gas.
American Postal Workers Union, AFL-CIO (APWU) The labor union that is the exclusive bargaining representative of all employees in the bargaining unit for which it has been recognized and certified at the national level. APWU members are in the following bargaining units: clerk, maintenance, material support, and motor vehicle. The Information Technology/Accounting Service Center bargaining...
AM Standard Operating Procedures (AMSOP) A national program that standardizes morning delivery office procedures and management processes. It includes training in functional tools and data systems, audits of work processes and schedules, reviews of equipment utilization, and use of the Integrated Operating Plan to coordinate handoffs between delivery units and mail processing facilities.
Annual Compliance Determination (ACD) A report issued by the Postal Regulatory Commission (PRC) in response to the Annual Compliance Report submitted by USPS to the PRC. The PRC determines whether any price or fee in effect during the year under review were not in compliance with applicable provisions and whether any service standards were not...
Annual Compliance Report, ACR A report submitted by USPS to the Postal Regulatory Commission under the Postal Act of 2006 that presents an analysis of costs, revenue, pricing, and quality of service for all products. For market dominant products, the report also presents measures of customer satisfaction and information about discounts and market tests.
Annual Performance Plan A concise list of corporate targets for the coming year. All federal agencies, including USPS, are required to publish annual performance targets by the Government Performance and Results Act of 1993 (GPRA). The Annual Performance Plan is incorporated in the Comprehensive Statement on Postal Operations.
Annual Performance Report A document that publishes USPS results against its major annual corporate targets for the year. All federal agencies, including USPS, are required to publish annual results by the Government Performance and Results Act of 1993 (GPRA). The Annual Performance Report is incorporated in The Comprehensive Statement on Postal Operations.
Annual Report A document that presents by fiscal year financial data with statements of operations, balance sheets, and statements of cash flows. It contains an overview of the business, describes risk factors, and contains data and statistics such as mail volume and revenue by class and service, number of employees, number of postal facilities, and...
Annual Staffing and Resource Management Simulator (ASRMS) A computer program that balances and tracks work load and workhours by accounting period. It is used to simulate staffing changes and to develop hiring plans.
Application Program Interface (API) Communicates POS ONE applications with USPS information systems as well as with specific service providers such as the bank card processor.
Appropriation Public funds set aside by Congress as reimbursement for USPS costs for performing certain purposes. USPS is authorized to receive appropriations for (a) public service costs incurred by providing a maximum effective degree of universal mail service; and (b) revenue foregone for providing free mailings to the blind and to overseas voters.
Area An administrative field unit headed by an area vice president and divided into customer service support, operations support, finance, human resources, and sales. Each area is further divided into districts. An area is responsible for airport mail centers/facilities, network distribution centers, customer service districts, mail transportation equipment centers, Post Offices, processing and distribution centers/...
Area Distribution Center (ADC) A mail processing facility that receives and distributes mail destined for specific ZIP Code ranges. An ADC is one of the points within the national distribution network as is defined by the first three digits of the ZIP Code of the Post Offices it serves
Area Distribution Center Price (ADC Price) (1) A price category available for some presorted mail prepared at the ADC presort level. (2) A presort level in which all pieces are addressed for delivery within the service area of the same ADC.
Area Strategic Account A designation for a business or organization that generates large postal revenue with high mail volumes; presents national mailings, often from multiple sites; has complex service issues; and may use a variety postal products and services. This type of managed account receives support at the area level.
Area Update A hardcopy publication that is mailed each quarter to employees. It focuses on area and national business and employee stories, new products and services, customer service, revenue generation, workplace and vehicular safety, new technologies, and high-profile stamp events. Each area has a localized version.
A Remettre En Main Propre (French) An endorsement used for international restricted delivery. The piece is marked A REMETTRE EN MAIN PROPRE or the equivalent in a language known in the destination country. The service, which requires delivery to the addressee in person, is not available from USPS. Mailpieces with this endorsement are stamped “Restricted...
Arrow (Philatelic) On some sheets of stamps, V-shaped marks in the selvage that guide in the cutting of the sheets into panes.
Arrow Lock A special type of brass and steel security lock installed in street collection boxes, storage boxes, apartment boxes, banks of apartment house mailboxes, cluster boxes such as neighborhood delivery and collection box units, and other postal mail-receiving receptacles. The name of the lock comes from an image of an arrow stamped below “U.S....
Arrow Lock Key A distinctively shaped key used by carriers to open mail-receiving receptacles such as street collection boxes and panels of apartment house mailboxes equipped with an arrow lock. The bow (top of the key) is stamped with an image of an arrow below “U.S.P.S.” Arrow keys are accountable property and are subject to...
Ascender In Intelligent Mail barcode symbology, the bar that covers two of the three possible regions (from bottom to top): the tracking (middle) region and ascending (top) region. It does not cover the descending (bottom) region.
ASF (1) A presort level in which all pieces in the bundle or container are addressed for delivery in the service area of the same auxiliary service facility (ASF). (2) An abbreviation used on mail container labels that identifies the contents as ASF mail (i.e., the ZIP Codes on the mail are served by the...
Asset Accountability Service Center (AASC) A unit that provides asset accountability (e.g., material and inventory management), investment recovery assistance, facilitation, and training. There are several AASCs located throughout the nation.
Asset Management Integration (AMI) An effort to improve the effective management of the sizable investments in material inventories and physical assets.
Attachment (1) A letter or other piece of mail placed in an envelope and affixed to the address side of another mailpiece (host piece). The attachment can be of the same mail class as the host or, where permitted, of another class such as an enveloped First-Class Mail piece attached to the outside of a...
Attention Line A separate address line that is the name of a person or a department placed above the recipient line, which is usually the name of a company or organization
Attributable Cost Direct and indirect USPS costs that can be clearly associated with a particular mail product. It is the sum of volume-variable cost plus product-specific cost.
Authorized Pouch A mailbag scheduled to be prepared for dispatch regularly.
AUTO A price-specific marking that is combined with the required basic class or product marking to indicate eligibility for an automation price category and processing on automation equipment.
Fautomated Area Distribution Center (AADC) An automated mail processing facility that receives and distributes mail destined for specific ZIP Code ranges. An AADC is one of the points within the national distribution network as defined by the first three digits of the ZIP Code of the Post Offices it serves.
Automated Area Distribution Center Price (AADC Price) (1) A price category available for some presorted mail prepared at the AADC presort level. (2) A presort level in which all pieces are addressed for delivery within the service area of the same AADC.
Automated Business Mail Processing System (ABMPS) A system that translates the address on a customer’s Business Reply Mail piece into a barcode consisting of a series of small vertical bars printed in the lower right corner of the mailpiece. The system enables identification and sorting by high-speed automated equipment.
Automated Enrollment System (AES) A computer-based training enrollment network with links between the Technical Training Center in Norman, OK, and the Material Distribution Center and the postal employee development centers.
Automated Flats Sorting Machine Auto Induction (AFSM AI) A system on the Automated Flats Sorting Machine (AFSM) 100 that automates the preparation and feeding of flats and includes a container dumper, four prep stations, vertical lifts, and conveyors linking the dumping, preparation, and individual feed stations.
Automated Flats Sorting Machine 100 (AFSM 100) A fully automated machine that processes flatsize mail. The machine receives mail via automatic feeders, acquires images of script and typed mail for video encoding, and processes mail using optical character recognition technology. Its design includes a tray take-away conveyor with adaptability for robotic handling or Tray Management...
Automated Package Processing System (APPS) An automated parcel and bundle sorting system that uses a carousel-type cross belt sorter subsystem capable of processing 9,500 pieces per hour. The system incorporates automatic package singulation, address recognition, and online remote video coding. A data system collects detailed information about each package such as package type, size, and...
Automated Postal Center (APC) A self-service kiosk that allows customers to mail letters, flats, and packages; buy stamps and some Special Services; and mail international letters. It also offers ZIP Code and tracking lookup and provides information on different services. This equipment is generally located in Post Office lobbies and in some locations provides customers...
Automated Vehicle Utilization System (AVUS) An online tool linked to carrier scans and inputs of vehicle mileage, hours, and reason for use. AVUS helps local management optimize vehicle use.
Automated Workload Planning System (AWPS) An automated system that identifies workload and the resources needed to accomplish the workload.
Automatic Airline Assignment (AAA) A system that automatically processes letter trays and flats tubs. AAA assigns the trays and tubs to airlines with Dispatch & Routing (D&R) labels and air contract transportation tags, and trucks with surface D&R and Highway Contract Route (HCR) tags. AAA integrates into the tray transport system in a facility and...
Automatic Container Unloader A machine that automatically unloads mail from a container onto a mechanized conveyor system. Also called parcel automatic unloader or sack automatic container unloader.
Automatic Density Analysis Profile Technique (ADAPT) A computerized program that counts the amount of mail (by volume and bin destination) processed on letter sorting machines. Densities are calculated for each bin, based on the accumulated volume processed, to determine sort schemes.
Automatic Flats Tray Lidder (AFTL) A self-contained mechanized system that is installed either inline or as a stand-alone device in a dispatch operation as part of the material handling Integrated Dispatch and Receipt (IDR) system. Flats trays ready for dispatch can be fed manually (standalone) or automatically from a tray line (inline).
Automatic Flats Tray Unlidder (AFTU) A self-contained mechanized system based on the Automatic Flats Tray Lidder (AFTL) design as part of the material handling Integrated Dispatch and Receipt (IDR) system. It can be installed either inline or as a stand-alone device in an opening operation. Flats trays that are ready for opening can be fed...
Automatic Induction (AI) A system on the Automated Flats Sorting Machine (AFSM) 100 that automates the preparation and feeding of flats and includes a container dumper, four prep stations, vertical lifts, and conveyors linking the dumping, prep, and individual feed stations.
Automatic Teller Machine Sheetlet (ATM Sheetlet) A pane of self-adhesive stamps on a liner (backing) that is the same size as U.S. currency and can be dispensed from automatic teller machines.
Automatic Tray Handling System (ATHS) An enhancement to the Automated Flats Sorting Machine 100 (AFSM 100) that improves productivity by automatically exchanging full mail trays with empty ones, applying tray labels to the replacement trays, sweeping the AFSM 100 full trays after operation, and reloading empty trays.
Automatic Tray Sleever (ATS) A self-contained unit with 10 detachable sleeve carts that places sleeves over trays of letters to retain letters in the trays. The carts control the sleeve stack, and can be loaded in the trayopening area of a postal facility.
Automatic Tray Unsleever (ATU) A self-contained unit similar in size to the Automatic Tray Sleever that receives letter trays from an upstream conveyor and removes the tray strapping and the sleeve around the tray. Empty sleeves are moved to a storage container for reuse.
Based on the status of your information collection and whether the collection is changing substantially from any previous OMB approvals, there are several types of reviews for OMB numbers. New Collection: Request for a new OMB Control Number of a collection that DoD has not previously used or sponsored. Existing Collection in Use without an...
The Office of Information and Regulatory Affairs (OIRA, pronounced “oh-eye-ruh”) is a Federal office that Congress established in the 1980 Paperwork Reduction Act (44 U.S.C Chapter 35). OIRA is part of the Office of Management and Budget (OMB), which is an agency within the Executive Office of the President. In addition to reviewing government collections...
Federal Enterprise Architecture (FEA) supports planning and decision-making through documentation and information that provides an abstracted view of an enterprise at various levels of scope and detail. The Common Approach to Federal Enterprise Architecture, released in May 2012 as part of the federal CIO’s policy guidance and management tools for increasing shared approaches to IT...
[104th Congress Public Law 13] [From the U.S. Government Printing Office] <DOC> [DOCID: f:publ13.104] [[Page 109 STAT. 163]] Public Law 104-13 104th Congress An Act To further the goals of the Paperwork Reduction Act to have Federal agencies become more responsible and publicly accountable for reducing the burden of Federal paperwork on the public, and...
What is an ICR? An Information Collection Request (ICR) is a set of documents that describes reporting, record keeping, survey, or other information collection requirements imposed on the public by a federal agency. The Paperwork Reduction Act stipulates that every federal agency must obtain approval from the Office of Management and Budget (OMB) before collecting the same...
What are SRRC and CMIIT ID? How to identify and query? Introduction to SRRC and CMIIT ID ・SRRC=State Radio Regulatory Commission of the People’s Republic of China, an agency under the Ministry of Industry and Information Technology of the People’s Republic of China ・CMIIT ID is the model approval code for radio transmitting equipment ・The...
Acceptable Quality Level (AQL): Established as part of a Quality Assurance Surveillance Plan. They must be realistic, stating the minimum standard, percentage of errors allowed, cost trade-offs, etc.
Best Value: The expected outcome of an acquisition that, in the Government’s estimation, provides the greatest overall benefit in response to the requirement. It involves the analysis of technical and cost proposals to determine which proposal offers the best trade-off between price/cost and performance, where quality is considered an integral performance factor.
Blanket Purchase Agreement (BPA): A simplified method of filling anticipated repetitive needs for supplies or services by establishing “charge accounts” with qualified sources of supply.
Contractor Performance Assessment Reporting System (CPARS): The Department of Defense (DOD) Enterprise Solution for collection of contractor past performance information and a web-enabled application that collects and manages the library of automated records of contractor’s performance on Government contracts.
Cost-Plus-Incentive-Fee Contract: A cost-reimbursement contract that provides for an initially-negotiated fee to be adjusted by a formula based on the relationship of total allowable costs to total target costs.
Cost-Plus-Award-Fee Contract: A cost-reimbursement contract that provides for a fee consisting of a base amount (which may be zero) fixed at the inception of the contract, plus an award amount (based upon a judgmental evaluation by the Government) that is sufficient to provide motivation for excellence in contract performance.
Cost-Plus-Fixed-Fee Contract: A cost-reimbursement contract that provides for payment to the contractor, of a negotiated fee that is fixed at the inception of the contract. The fixed fee does not vary with actual cost, but may be adjusted as a result of changes in the work to be performed under the contract. This contract type...
Cost-Reimbursement Contract: A contract that provides for the payment of allowable incurred costs, to the extent prescribed in the contract. These contracts establish an estimate of total cost for the purpose of obligating funds and establishing a ceiling, that the contractor may not exceed (except at its own risk) without the approval of the Contracting...
“Fair-Opportunity-to-be-Considered” Rule: All prime contractors (including their designated subcontractors, if applicable) are considered to possess the basic qualifications for success in the professional and technical services of the contracts awarded to them. Therefore, the statutory and regulatory requirement for “fair opportunity to be considered” (based on the Federal Acquisition Streamlining Act (FASA) and Federal Acquisition...
Federal Acquisition Streamlining Act (FASA): Public Law 103- 355 was enacted in October 1994, and was designed to simplify and streamline the federal procurement process. FASA raised the small purchase threshold from $25,000 to $100,000 and designated this as the simplified acquisition threshold.
Firm Fixed-Price Contract: A contract suitable for acquiring commercial items or for acquiring supplies or services on the basis of reasonable definite functional or detailed specifications, when the Contracting Officer can establish fair and reasonable prices at the outset.
Hubzone (Historically Underutilized Business Zone) Small Business Concern: A small business concern that appears on the “List of Qualified HUBZone Small Business Concerns” maintained by the Small Business Administration.
Incentives: Used to encourage better contractor quality performance. They may be either positive, negative, or a combination of both. Incentives may also be monetary or non-monetary. Incentives do not need to be present in every performance-based contract as an additional fee structure. In a fi Us price contract, the incentives would be embodied in the...
Independent Government Cost Estimate (IGCE): Assists the Task Order Contracting Officer in determining the reasonableness of a contractor’s cost and technical proposals. The IGCE is prepared by the requisitioner and submitted as part of the procurement request. It is for GOVERNMENT USE ONLY and should not be made available to the ProTech contractors. Requisitioners may...
Indefinite Delivery Indefinite Quantity (IDIQ) Contract: A contract for supplies/services that does not require or specify a fi– quantity of supplies/services (other than a minimum or maximum quantity) and/or is used when the exact times of future deliveries are not known at the time of contract award. IDIQ contracts are also known as delivery order...
Original Equipment Manufacturer (OEM): A producer/manufacturer that provides a product to its customers, who then proceed to modify or bundle the product before distributing it to their customers.
Performance Based Service Acquisition (PBSA): The preferred method of contracting for services and supplies. PBSA is contracting for results, not just best efforts, and involves structuring all aspects of an acquisition around the purpose of the work to be performed. Essential elements of PBSA’s include: performance requirements, expressed in either a Performance Work Statement or...
Performance Standards: Standards that establish the performance levels required by the Government. Examples of performance standards include: quality standards (condition, error rates, accuracy, form/function, reliability, maintainability), quantity standards (capacity, output, volume, amount), and timeliness standards (response times, delivery, completion times, milestones).
Performance Work Statement (PWS): A type of work statement that provides performance standards to establish the performance levels required by the Government (e.g., quality standards, quantity standards, and timeliness standards), and incentives to encourage better quality performance (which may be either positive or negative, monetary or non-monetary). A PWS normally includes a Quality Assurance Surveillance...
Purchase Requisition Package: The complete documentation package prepared and submitted by the Requiring Activity to initiate a Task Order request.
Quality Assurance Surveillance Plan (QASP): Part of the Performance Work Statement. Its purpose is to set forth the Government’s expectations, as well as how (and how often) deliverables or services will be monitored and evaluated. A QASP may also contain incentives that encourage the contractor to exceed the performance standards, and that reduce payment or...
Request For Proposal (RFP): A solicitation document used in negotiated procurements to communicate government requirements to prospective contractors and to solicit proposals (offers) from them.
Small Business Administration Procurement Center Representative (SBA PCR): Procurement professionals, located in SBA area offices, responsible for the review and evaluation of small business programs in federal agencies and for assisting small businesses in obtaining federal contracts and subcontracts. An SBA PCR reviews proposed procurement opportunities and subcontracting plans to ensure compliance with applicable laws...
Service Level Agreement (SLA): A formal written agreement established between two parties: the contractor and the Government customer. It defines the expected level of services, the metrics associated with these services, acceptable and unacceptable service levels, and incentive awards for service levels exceeded and/or penalty provisions for services not provided.
Statement Of Objectives (SOO): A type of work statement that provides the basic, top-level objectives of a Task Order, and is provided in lieu of a Government-written Statement of Work or Performance Work Statement. It provides potential offerors the flexibility to develop cost-effective solutions and the opportunity to propose innovative alternatives for meeting the objectives.
Statement Of Work (SOW): A type of work statement that describes the need for the goods or services, the scope of work to be performed, applicable documents, specific tasks, deliverables and delivery schedule, Government-furnished property and information, place and period of performance, and security requirements.
Task Order (TO): An order for services placed against an established contract or with Government sources. In the case of the ProTech acquisition, TOs are orders for services placed against contracts awarded under the ProTech solicitation.
Task Order Contracting Officer’s Representative (TO COR): TO COR is responsible for the task order activities involving initiating, awarding, administering, and closing out task orders. They will track and guide task order performance over the life of the task order.
Time-And-Materials Contract: A contract that provides for acquiring supplies or services on the basis of direct labor hours, at specified fixed hourly rates that include wages, overhead, general and administrative expenses, and profit; and materials at cost, including, if appropriate, material handling costs as part of material costs. A time-and-materials contract may be used only...
Confidential Information Definition Confidential information is any material, non-public or business-related information. It is confidential or private information in any way in an agreement between two or more parties, and the first party is (“the disclosing party”). The other party (s) is / they (“the receiving party”) the first party or his representative disclose this...
Net Revenue Definition Usually, net revenue is the last number on the profit and loss statement, which is the line that provides business owners with important information about how much money is left after paying the company’s expenses. Therefore, it is a critical measure of business profitability. Net revenue can also be called net income,...
What is an FRN? When you register your information in the FCC’s Commission Registration System and are immediately issued an FCC Registration Number (FRN) and password, The FRN is a unique identifying number that may be initially obtained over the Internet through the Commission Registration System (CORES). This ten-digit number is assigned to a company...
The trademark is one of the most critical components based on which the public identifies a commodity. The trademark represents the company’s face, the logo, or the link that connects the audience with the company. A company is often referred to by its branding, as they become two sides of the same coin. Their companies’...
Many companies focus primarily on short-term profit, which is without a doubt a vital matter. Still, in these companies’ attempt to increase profits, they turn to a form of financing, which is debt, which puts the company’s financial solvency at risk. To understand solvency, we first need to understand assets and liabilities. There are many...
The term “immediate family” is ubiquitous but is most often heard in the workforce. Since many companies will only provide benefits for the immediate family, it is imperative to know exactly who is included in your “immediate family.” But what exactly does this term mean? I mean, for some, the immediate family will consist of...
The US Postal Service has launched USPS Premium Monitoring, which enables consumers to view the tracking history of a domestic shipment for a fee. Thanks to a tip from a fan, we were the first to post on the latest feature on Sunday. Since then, we’ve heard that the available package provides a premium monitoring...
Office of Financial Management, State Human Resources Glossary of Classification Terms The language in the class specification will have priority when explaining or defining any of the terms. Administrative. See Nature of Work. Advise. Identify options and recommend a course of action to assist others to resolve problems or make decisions. Allocation. Assignment of a...
GRANT GLOSSARY OF TERMS Abstract – summarizes the purpose, importance and scope of the proposed project. Also called a Summary or Executive Summary. Annual Report – yearly publication focusing on financial, program and governance information of a corporate giving program or foundation. Annual Support – a grant paid to the same recipient each year for...
Vocational Rehabilitation Services Glossary This glossary is provided as a service to users of the Vocational Rehabilitation (VR) manuals by the Texas Workforce Commission (TWC). It represents TWC’s best effort to provide a centralized index of useful and important terms appearing in the VR manuals. This glossary does not represent TWC policy and is...
Glossary of Terms Related to Work Based Learning A vast cluster of activities occurs under the umbrella of “Work Based Learning”, and this glossary is an attempt to help clarify the most common or definitive meaning of some of its associated terms. It is hoped that a common language will facilitate communication both within...
Glossary and Bibliography A Acculturation- the process of taking on another group’s culture. Activism- informed action or involvement as a means of achieving a political goal. Activism can manifest in the form of protests, demonstrations and direct actions, art and cultural production, lobbying and advocacy work, fundraising, writing, educational discussions, etc. Agency- the capacity of...
The duty of any Lender, if any, to make a Term Loan Advance to Borrowers in a principal sum not to surpass the amount set out under the heading “Tranche III Term Commitment” opposite that Lender’s name on Schedule 1 is referred to as a “Tranche III Term Commitment.” 1. All vested options under ESOP...
OTE definition (OTE) stands for On-Target Earnings. It is the Earnings that a company manager expects to achieve in a specific accounting period. It is a fundamental concept in corporate control systems that are responsible for corrective administrative actions. The term On-Target Earnings (OTE) is used. In the following cases: Budgeting: Managers can structure expenses...
The Huber needle is a specially designed hollow needle that is used with a port-a-cath chemotherapy port. The needle has a long, inclined tip that can pass through the skin as well as the silicone barrier of the implanted port reservoir in order to provide a tremendous amount of comfort to the cancer patient...
Glossary Management Guide Terminology Services Purpose of this Guidance Document Terminology Services is a web-based system and suite of services for creating, maintaining, searching and publishing glossaries and taxonomies. Terminology Services is backed by an enterprise terminology management tool called Synaptica. The purpose of this guidance is to give glossary owners the information needed to...
Glossary of Acronyms and Associated Definitions ACRONYM DEFINITION ABAWD Able-Bodied Adult Without Dependents BRIDGES The Michigan Department of Health and Human Services’ (MDHHS) integrated eligibility system E&T Employment and Training EEST Employment Enhancement Skills Training FAE&T Food Assistance Employment and Training FAP Food Assistance Program FNS Food and Nutrition Service GED General Equivalency Degree/General Educational...
Glossary of Real Estate Terms This information is used with permission from Black’s Guide Inc., 444 N. Frederick Avenue, #420, Gaithersburg, MD 20877-2432. Black’s Guide’s Glossary of Real Estate Terms provides a complete reference dictionary of terms and phrases used in the commercial real estate industry. These definitions have been endorsed by numerous industry organizations...
VA Data Management of Glossary and DAMA Supplements Introduction Purpose: To provide definitions of data quality related terms and encourage consistency when preparing shared documents. The glossary includes terms describing data quality and activities managed by the Data Governance Council. Viewing: Use of the “Navigation Pane View” is recommended A Term Definition ...
UI Modernization NJ Success Glossary Revision History Date Version Description Author 02/10/04 1.0 Workgroup Table of Contents Glossary 1. Introduction 1.1 The New Jersey Department of Labor is in the progress of modernizing the Unemployment Insurance Program. The project includes the reengineering of the business processes, and the system processes needed to support...
Instructions General instructions/definitions Please call the Library Development Office with any questions at 317-232-3697 or 1-800-451-6028 or email ldo@statelib.lib.in.us or ehuffman@statelib.lib.in.us All information in the annual report is a matter of public record and much of it is published on the World Wide Web. Give most current information for Respondent identification, hours of operation,...
Glossary of Terms and Definition Compatibility Mode A-133 audit An audit required under Office of Management and Budget (OMB) Circular A-133 of state and local government and nonprofit organizations that have expended over $500,000 in Federal funds during a given fiscal year. Under A-133, the auditor looks for compliance with general and specific government...
Internal Control Glossary Control Environment: sets of standards, processes, structures, and environment established and maintained by management to provide the foundation and basis for carrying out an internal control system cross the organization. Common Terminology Description Tone at the Top Management leads by example (through directives, attitudes, and behavior) to demonstrate a commitment to...
Glossary and List of Acronyms Access: The degree to which services are readily obtainable – determined by the extent to which needed services are available and information about these services is provided, the responsiveness of the system to individual cultural and linguistic needs, and the convenience and timeliness with which services are obtained. Assessment:...
Glossary of Rehabilitation Related Terms A-B-C ADA – Americans with Disabilities Act of 1990 – makes it illegal to discriminate against people with disabilities in employment or public accommodations. ADL – activities of daily living – may include but are not limited to dressing, toileting, grooming, bathing, eating, repositioning, and taking medication or mobility....
Glossary of Budget Terms Allocations: The total amount of estimated expenditures authorized by the Legislature from resources legally restricted or otherwise designated for specific operating purposes. These resources typically constitute highway funds, federal funds, other special revenue funds, internal service funds, enterprise funds or any other funds, which may be designated for specific purposes...
Glossary for the Information Security Automation Program and the Security Content Automation Protocol SCAP content: consists of security checklist data represented in automated XML formats, vulnerability and product name related enumerations, and mappings between the enumerations. SCAP checklists: are configuration checklists written in a machine readable language (XCCDF). SCAP checklists have been submitted to,...
Nebraska K-12 Fine Arts Standards: Visual Arts (Approved by the Nebraska State Board of Education March 4, 2014) Nebraska K-12 Fine Arts Standards: Visual Arts – Download [Optimized PDF] Nebraska K-12 Fine Arts Standards: Visual Arts – Download
NCCDPHP Work Group on Translation K2A Framework Glossary May 2010 1. Research phase: Discovery: The original biomedical, behavioral, or epidemiologic factor or finding that stimulated development of an intervention. Efficacy: The extent to which the intended effect or benefits were achieved under optimal conditions. Effectiveness: The extent to which the intended effect or benefits...
Glossary With References to Applicable Sections and Tables Source: Bureau of the Fiscal Service Amounts outstanding and in circulation (USCC)—Includes all issues by the Bureau of the Mint purposely intended as a medium of exchange. Coins sold by the Bureau of the Mint at premium prices are excluded; however, uncirculated coin sets sold at...
Fiscal Treasury Glossary Statements Absorption – The passing of a substance into the circulatory system of the body. Also used specifically to refer to entry of toxicants through the skin. ACGIH – American Conference of Governmental Industrial Hygienist Acute Exposure – An exposure to a toxic substance which occurs in a short or single time period. Acute Toxicity ...
Exhaustive List of Glossary Assessment Literacy Terms This list of terms relates to the Local Alternative Assessment work and is not intended to be an exhaustive list of assessment terms. accountability systems—the mechanisms used (generally by states) to evaluate the performance of their education systems. In recent years, accountability systems have increasingly used the school...
New York Glossary of Terms The following definitions shall apply to this Solicitation: Term Definition Bidder, Proposer, Offeror Shall mean any person, partnership, firm, corporation or other authorized entity submitting a bid to the State pursuant to this IFB. Confidential Information Shall include any information where unauthorized access, disclosure, modification, destruction or disruption of...
Glossary of Common Terms in Kentucky Education ADA (Average Daily Attendance) — the average of a set number of months’ attendance, used to determine funding Alternative Schools — schools that serve students who are not succeeding in the traditional public school environment due to academic problems, learning disabilities or behavioral problems Assessment — an...
The controlled terminology in this spreadsheet represents the CDISC Glossary, produced by the CDISC Glossary team that seeks to harmonize definitions, acronyms, abbreviations, and initials of commonly used clinical terms across the standards initiatives undertaken by CDISC to support clinical research. The purpose of the CDISC Glossary is to serve the community of clinical researchers...
API – API stands for application programming interface. Accessed at the application server level of the system architecture, APIs enable staff to perform interactive or automated data input or output to the Unicorn database. All data elements of the integrated system can be retrieved and updated using these tools. SirsiDynix provides documentation, training, and support...
Accounting Controls – Methods and procedures which an organization’s management institutes to (1) safeguard assets, (2) authorize transactions, (3) monitor financial activities, and (4) ensure the accuracy and validity of accounting records. Administrative Controls – Methods through which management supports the accomplishment of its objectives (e.g., planning, organizing, monitoring productivity, improving operations, and ensuring quality...
Definitions of terms used in the Minnesota Disability Law Center Self-Advocacy Fact Sheets 504 accommodation plan – The plan a school has to make to help a student with a disability who does NOT qualify for special education. Adaptations – Changes to school rules or expectations that a student with a disability might need...
Glossary of Terms for the FUTA Return Table FUTA — Estimated total FUTA receipts (excluding reduced credits). GF Repayment — The share of receipts transferred from the EUCA to repay general fund advances incurred as a result of Federal benefit payments which preceded 1981. This category applies only to FY 1981 through FY 1987. Implied...
Smarter Balanced UAAG Supplement – Language Supports Yutzil Becker State EL/Title III Coordinator Yutzil.Becker@state.sd.us 605.773.4698 Terminology & notation English Learners EL – Federal education classification for students who are learning English as a secondary language. First Year in Country: An EL student who has not had a school enrollment within the United States, for...
Glossary of terms May 2009 Term or acronym Definition Authorized Equipment List (AEL) This list may be found on the Responder Knowledge Base (RKB) website. The AEL Number must be entered on each invoice when a cash request is submitted. BZPP Border Zone Protection Program The County of San Diego is the sub-grantee for...
Glossary for Somali Examination ENGLISH SOMALI ABSTRACT Fikir Kaab ACCESSORY (as assistant in a crime) Dambi Kalkaaliye ACCOMPLICE Dambi Gacansiiye ACCUSATION (as a formal written charge) Ashtakeyn; Dacweyn;Eedeyn ACCUSE Ashtakee; Dacwee; Eedee ACQUIT Daa; Siidaa ACQUITTAL Dayn; Siideyn ADJOURN Hakin, Joojin gaaban ADJUDICATE Xukun ADMISSIBLE La ogolaan karo ADMISSION Qirasho, Ogolaasho ADMONITION U...
GLOSSARY STATISTICS FOR PUBLIC SCHOOL DISTRICTS Need/Resource Capacity (N/RC) Category Code: A code indicating to which of six Need/Resource Capacity Categories a district belongs. Districts are placed in an N/RC category based on their N/RC Index. The N/RC Index is a measure of a district’s ability to meet the needs of its students with...
ABANDONED CALLS Calls answered by equipment but never reaching a telephone specialist because the caller hung up (usually due to a long wait), caller interruption, or recognition of a misdialed call. AFTER CALL WORK (ACW) TIME Time required by a telephone specialist after a call to complete the record of that call and to arrange...
All Right, Title and Interest (All R.T. & I.): the acquisition of any interest in the existing highway right-of-way. The acquisition of All R.T. & I. may sometimes include a site improvement such as a stone wall, curb or unused well. Acquisition: The property, land, buildings or property rights that the agency proposes to acquire...
ACCOUNT – An entity for recording specific revenues or expenditures, or for grouping related or similar classes of revenues and expenditures and recording them within a fund or department. ACCOUNTING SYSTEM – The total set of records and procedures that are used to record, classify, and report information on the financial status and operations of the...
GLOSSARY AC Alternating Current ACA Australian Communications Authority AERO-SAR Aeronautical Search and Rescue ALE Automatic Link Establishment AM Amplitude Modulation ANSI American National Standards Institute APD Amplitude Probability Distribution ARRL Amateur Radio Relay League AWG American Wire Gauge BBC British Broadcasting Corporation BBG Broadcasting Board of Governors BPL Broadband over Power Line(s) BW Bandwidth...
GLOSSARY OF TERMS AND TITLES The purpose of this Exhibit is to list the job titles and explain the responsibilities of the filming industry employees park personnel might encounter on location. This is not a complete list of people on the set. Some of the job titles are obvious, such as carpenter, plumber, plasterer, scene...
HMGP GLOSSARY 322 Plan: (See Hazard Mitigation Planning or Sub-grantee Multi-Hazard Mitigation Plan) 5% Initiative Projects: These projects provide an opportunity to fund mitigation actions that are consistent with the goals and objectives of the State and local Hazard Mitigation Plans and meet all HMGP program requirements, but for which it may be difficult to conduct...
Plain Language Thesaurus For Health Communications This Plain Language Thesaurus has been put together by the Centers for Disease Control and Prevention’s National Center for Health Marketing. Our aim is to help make health information clear and easy to understand. This thesaurus offers plain language equivalents to medical terms, phrases, and references that we often...
Glossary Albuterol: (Beta 2 agonist or albuterol sulfate) The most commonly seen rescue or quick relief medication used to relieve asthma symptoms quickly by relaxing muscles around the airways. Also used before exercise to prevent asthma symptoms for people with exercise-induced asthma. Most often used as an inhaler or with a nebulizer. Allele: One of...
Assembly Buildings: To include restaurants, amusements/recreational, nightclubs, theaters, stadiums, church Certificate of Occupancy: Upon completion of all construction and prior to occupancy and upon final approvals by all appropriate inspectors, Certificates of Occupancy are issued by the Bureau of Buildings. Depending upon unusual circumstances, a Temporary Certificate of Occupancy may be issued for a specified...
JOB DESCRIPTION ACTION VERBS The following is a list of commonly used action verbs for describing positions. Each verb has been defined in the context of job evaluation usage. These action verbs should be used when completing the Job Analysis Questionnaire. ACKNOWLEDGES: Recognizes as true or pertinent; admits obligation; reports receipt of (a letter,...
Testing Why Candidates Fail Interpreting Examinations – YouTube https://m.youtube.com/watch?v=o1WwC0RWYsU IDIOMS & SLANG FOR COURT INTERP WRITTEN EXAM NOV 2015 V1 – YouTube https://m.youtube.com/watch?v=eOH0jPryG2Q Court Interpreter English Written Exam Intro – YouTube https://m.youtube.com/watch?v=eCBufBWbSGo Legal/Law Enforcement: Administracion Laboral agricola http://www.cnr.berkeley.edu/ucce50/agro-laboral/7leyes.htm US Department of Labor http://www.dol.gov/ INTERNATIONAL LABOUR ORGANIZATION http://www.ilo.org/ Forensic Linguist association http://web.bham.ac.uk/forensic/...
Seattle MeterWatch Glossary This Glossary has two parts: Part I: Glossary of Terms appearing in Seattle MeterWatch, defined as used in this application. Part II: Glossary of Electricity Industry Standard Terms. Part I: Glossary of Terms Appearing in Seattle MeterWatch (SMW) Administrator for SMW service- Seattle City Light staff person responsible for...
There are many job descriptions on any film project. As a community representative, you’re most likely to come into contact with the ones listed below. For a comprehensive list, see the Internet Movie Database Glossary Buyer – Works for the Art Department; responsible for buying/renting props, costumes, furniture and other items that appear on camera....
Activity/Product/Service – An activity is a natural or normal function of an organization. A product is what is produced. A service is performing any of the business functions supporting production or distribution. Audit, External/Outside Independent Third-Party Audit of the SCEPP – A planned, independent and documented assessment to determine whether agreed upon requirements are being...
Glossary of Terms Accounting System Review: The Accounting System Review (ASR) consists of a questionnaire used to assess the capability of a contractor’s accounting system to handle a specific government pricing arrangement. The Sandia Contracting Representative (SCR) contacts the Contract Audit Department to request an ASR prior to award of a contract. The auditor...
Glossary of Terms and Internet Links American Association of Motor Vehicle Administrators (AAMVA) http://www.aamva.org The American Association of Motor Vehicle Administrators (AAMVA) is a nonprofit organization striving to develop model programs in motor vehicle administration, police traffic services, and highway safety. AAMVA serves as an information clearinghouse for these same disciplines and acts as...
Network Outage Reporting System Glossary of Fields in NORS Reports Version 1 July 25, 2016 Table of Contents 1 Fields on the Notification Form.. 2 2 Fields on the Initial and Final Report Forms. 8 3 Fields on the Withdraw Report Form.. 17 4 Descriptions of Root Cause, Direct Cause and Contributing Factors. 18 1.Fields...
Benchmarks of Success for Maryland’s Workforce System Data and Dashboard Committee 10:00 – 12:00 PM, April 2, 2018 Anne Arundel County Career Center Attendees: LiLi Taylor, Milena Kornyl, Richard Reinhardt, Sara Johnson, Andre James, Elizabeth Tatum, Ellen Beattie, Joe Raymond, John Stem, Lisa Nicoli, Lynda Weber, Michelle Day, Patricia Morfe, Rob Pinkard, Scott Dennis, Terry...
Disk partitioning is a way of telling a computer that you want to divide a hard disk into several partitions. And to treat each partition as a separate drive, even if it doesn’t happen. You can quickly identify partitions on your computer by opening “This PC” from File Explorer or the Windows desktop. In the...
It is an account managed by a particular party or person for the benefit of another party, and it is called an account held in a trust. The trust relationship can be either explicit or implicit. Fiduciary accounts are usually created for minors. Account ownership is transferred when the minor reaches the legal age. It...
Flight School is a course of study for those who want to learn how to fly an airplane. Before you can fly a plane on your own for the first time, you need to pass a knowledge test before your solo driving test. The test covers airspace rules and procedures for the airport where you...
The theoretical study, with which the trainer begins to obtain the essential information before the practical flight phase. It is a stage of importance not less than practical flying, but rather it is the cornerstone that helps the trainee develop his events in general during practical training. Solo flying (SOLO) Flying with an instructor ((DUAL)...
This flight applies to flight schools (flight school means any pilot school, flight training center, the flight training center for air coaches, or a flight instructor certified to be certified under 14 CFR Part 61, 121, 135, 141 or 142; or any individual or organization providing instructions in any aircraft or aircraft simulator under 49...
In the theoretical study at the College of Aviation, you learn theories about how airplanes fly, the weather, and many other aviation-related topics. The main objective of studying theoretical aviation at Aviation College is to help you pass the knowledge test. You study theories in Ground School about aircraft, the atmosphere, and many other aviation...
An aircraft simulator is a platform for pilot training, construction, or other uses that recreate an aircraft’s flight and the atmosphere in which it is operating. The simulation aims to provide valuable models in building a natural process by simulating the model and training methods challenging to perform in real situations. This includes replicating aircraft...
SBIC is an SBA financial support service. It is a privately owned company licensed and regulated by SBA. SBICs invest in small businesses eligible to invest through debt, equity, or a combination of the two. Plus, the loaned funds from the SBA Guarantee. SBIC companies usually target mature, profitable companies with sufficient cash flow to...
The reconstruction of the machinery after the discovery of faults to a working state. An component that is normally restored to reuse as it becomes unworkable. The option to restore an object that is not useful is dependent on discarding and replacing against reparation costs. This covers exchange and repair articles, reparation and return articles,...
Introduction – This document is a listing of terms used in the Diesel Particulate Filter selection guide for underground Metal and Nonmetal Mines. Active Regeneration – The term “Active” regeneration refers to the requirement for the active involvement of a person or mechanism to accomplish the DPF regeneration. Active regenerating DPFs must be used when the...
Websites Associated with Developing a Biological Assessment Note: Not all references within this section have websites; in an effort to reduce paper waste, only those website references mentioned during the workshop are within the second half of the notebook. All resources from the Developing a Biological Assessment class (including all notebook references) may be accessed...
Term Definition Account – GL, PO, AP Field in CAPPS Financials ChartFields that means the same thing as comp object or expenditure code. EX: 7300 – Consumables Accounting Entry Template – AP Used to generate the accounting entries that offset the individual expense line items entered on the voucher and it also determines the T-Code,...
2015 Gainful Employment (GE) Rates Downloadable Spreadsheet Column Field Names Glossary FIELD NAME DEFINITION Institution Code (Six-digit OPEID) Identification number issued by the U.S. Department of Education (Department) that identifies each postsecondary educational institution (institution) that participates in the Federal student financial assistance programs authorized under Title IV of the Higher Education Act of...
RECONSTITUTION PLAN Reconstitution is restoring NOAA’s ability to carry out all aspects of normal operations, the restoration of the capabilities that existed prior to the emergency. Reconstitution may not be an exact replacement of lost facilities, equipment, or restorations of processes. The goal of reconstitution is to reestablish the capability in the most efficient...
CDFI Fund Glossary The terms in this Glossary are streamlined definitions that, in general, apply across all types of financial institutions. These definitions should be used as a guide to users for how to complete the Annual Certification and Data Collection Report Form. Please refer to the appropriate program-specific guidance documents for more detailed definitions....
Glossary of Terms 210 Rule (31 CFR Part 210) – A U.S. Department of the Treasury regulation that describes the types of accounts that may be used to receive federal benefit payments. It allows, among other things, the delivery of federal payments to prepaid debit card accounts that meet certain consumer protection criteria. Automated Clearing...
Supplemental Glossary of Acronyms, Abbreviation Terms and Links AbilityOne – Services program implemented via Javits-Wagner-O’Day Act. (http://abilityone.gov) BPA – Blanket Purchase Agreement CONUS – Continental United States CPG – Comprehensive Procurement Guidelines DODAAC – Department of Defense Activity Address Code E-BUY – GSA’s Electronic Business tool for MAS and GSA Technology contracts (https://www.ebuy.gsa.gov) ETS – Essentially the Same...
Even though the words “US country” and “US resident” have somewhat different definitions, they are often used interchangeably. Although all citizens of the United States are considered U.S. nationals, not all inhabitants of the United States are considered U.S. nationals. A U.S. national, according to the Internal Revenue Service (IRS), is someone who “owes his...
Recurrent training is a form of scheduled refresher training required of pilots on a regular basis. Any recurrent training occurs every few months, while other recurrent training occurs biannually, annually, or biennially. Training can take place in person, online, or in a mixture of both. Most types of recurrent instruction have a written and/or functional...
The US Postal Service has introduced USPS Premium Monitoring, which allows consumers to view the tracking history of a domestic shipment for a fee. Thanks to a tip from a fan, we were the first to blog on the latest feature on Sunday. Since then, we’ve heard that the available package provides a premium monitoring...
Glossary Word Definition Actions The process of doing. Activation To set up or mobilize response units/teams. Actors/Players Controllers who simulate members of Non-participating Organizations and role-play key individual individuals, such as injured personnel. They may have face-to-face contact with Responders/Players, functioning as media reporters, next-of-kin, or injured personnel. They may be members of a Control...
GLOSSARY AND ACRONYMS This is a list of abbreviations, acronyms, and definitions used in the Pharmacy Program manual chapter. Average Wholesale Price (AWP) – The published suggested wholesale price of a drug. It is often used by pharmacies as a cost basis for pricing prescriptions. Bureau of Health Services Financing (BHSF) – The Bureau within...
Introduction Crash Cushions, End Treatments and Barriers Crash cushions and end treatments are devices designed to reduce the severity of an impact by an errant vehicle and as described herein, they may be located in roadway medians, gore areas, or along the roadside. These devices have been developed for specific applications such as limited shoulder...
Abbreviated Drainage Plan A brief written plan stating and schematically showing how a small proposed land development project will satisfy stormwater management requirements of these Guidelines. Generally this is applicable only to projects that will be devoid of detention facilities and public stormwater infrastructure of any kind. This may be accomplished with a site plan...
Dozens of years ago, customers could spend some time dealing with negative rumours early on, but now the general misconception of a product could become global in minutes. Knowing this and how it develops is part of the thinking that goes into developing customer counter-strategies, and you may reach your goal Ultimately, but you’ll...
It is a research field of knowledge specializing in the research and development of treatments for diseases that focus on pathological outcomes and the prevention of conditions that negatively affect an individual’s health. TAUGs are primarily used to extend foundational standards to represent data on disease-specific areas. This Therapeutic Area User’s Guide includes disease metadata,...
Glossary of Agency Terms In the Program Evaluation Report, the agency was asked to provide a list of terms, phrases or acronyms the agency uses which the Committee or general public may not know, along with the meaning of the term, phrase or acronym. Below is the list of those terms, phrases and acronyms. If...
PROGRAM MANAGEMENT OFFICE (PMO) PROJECT BUDGET PREPARATION GUIDELINE DATE: JULY 1, 2002 REVISION 2.1 PRODUCT CODE: GTA-PMO-GLI-112 Table of Figures Figure 1: Budget Preparations. 5 List of Appendices None. Revision History Revision Number Date Comment 1.0 March 2, 2001 Original Scope[1] and Initial Baseline 2.0 February 6, 2002 PMO Refinement 2.1 July 1, 2002 Wording...
COST ESTIMATION SCOPE This Quality Work Instruction (QWI) defines the Enterprise Project Management Office (EPMO) procedure to develop project cost estimates in a consistent (standardized) manner. The purpose of this QWI is to establish a procedure that improves the accuracy of cost estimates at project baseline, effectiveness of cost management throughout the project life-cycle, as...
Glossary This list identifies and defines terms SSA, IRS, and state administrators commonly use in administering Section 218. Term Definition 218 Agreement See Section 218 Agreement 218(b)(5)Coverage Group See Absolute Coverage Group 218(d) Coverage Group See Retirement System Coverage Group 69 Number A nine-digit number assigned by SSA prior to 1987 to every State...
GLOSSARY Assistant: Title for subordinates of the Command Staff positions. The title indicates a level of technical capability, qualifications, and responsibility subordinate to the primary positions. (FEMA) Branch: The organizational level having functional or geographic responsibility for major parts of the Operations or Logistics functions. The Branch level is organizationally between Section and Division/Group in...
CASCADE-P Tutorial for http://greengenes.llnl.gov/16S The CASCADE-P tools use the prokMSA as their data source. The prokMSA is a multiple sequence alignment of the publicly available 16S rDNA sequences. Some functions require the user to indicate which branch(es) of the phylogenetic tree they wish to examine. The “Browse” function allows the user to find and select...
DEFENSE NUCLEAR FACILITIES SAFETY BOARD Public Hearing on Safety Management of Waste Storage and Processing in the Defense Nuclear Facilities Complex Acronyms 830 – Code of Federal Regulations, Title 10 Part 830 3009 – DOE Standard 3009 5506 – DOE Standard 5506-2007 AIB – DOE Accident Investigation Board AK – Acceptable Knowledge AMWTP –...
Glossary Additions from Appendices and Supplemental Material m/s – meters per second S/m – siemens per meter (conductivity) Bar/Bars – measure of pressure bbl – barrels UW – underway LO – layout PU – pickup MU – make up WOW – waiting on weather SPM – strokes per minute RIH – run into the hole POOH – pull out of the hole...
FFC ID is meaning Federal Communications Commission IDentification. You can find the FCC ID on nearly every piece of the computer. FCC ID numbers can be used to find information about a device manufacturer or other helpful information if no other numbers are found to infer device information. It is essential to realize that the...
PuTTY There is no official definition of “PuTTY.” Still, the term is commonly used as an application for both SSH and telnet and includes an xterm terminal emulator, and PuTTY is an alternative to telnet clients. PuTTY is primarily written and maintained by Simon Tatham, a British programmer for the Windows platform. PuTTY is open-source...
The time between the end of evening civil twilight and the start of morning civil sunrise is known as night. 14 CFR 61.109 refers to this term once more. As a result, a day is described as the time between the start of civil sunrise in the morning and the end of civil twilight in...
TSA designates an alien or another person who applies for flight training or recurrent training. It excludes someone who has been approved by the Department of Defense for flight training.
NAGB Conference on Increasing the Participation of SD and LEP Students in NAEP Commissioned Paper Synopsis The attached paper is one of a set of research-oriented papers commissioned by NAGB to serve as background information for the conference attendees. The authors bear sole responsibility for the factual accuracy of the information and for any...
US law defines “the alien” as “anyone who is not a US citizen,” and in 2015, California removed this term from state labour law. The term illegal alien was long viewed as an inhuman insult by advocates of immigrants. Still, the term became more controversial during the era of Donald Trump, and some senior federal...
MNPI stands for Material Non-Public Information. Material information is accurate information that is not commonly available, except that it relates to the company’s business that, for some reason, is expected to affect the share price or shareholders ‘investment decisions. As this information includes, for example, a merger of companies, or acquisition and acquisition, or joint...
Waioder Definition is not a meaningful term in any of the languages, and it isn’t very meaningful in foreign dictionaries of languages. Appearing in the mark has no significance, nor is it a term of art in the relevant trade or industry or as used in connection with the goods/services listed in the application, or...
China CMIIT ID is required for all wireless devices (cellular phones, modems, routers, etc.) imported into China. CMIIT ID is a compulsory certification for wireless products in China, and the CMIIT ID consists of 15 digits. CMIIT ID certification process: Step 1. The applicant submits the application form and required documents to the Certification Body...
Federal Highway Administration GVWR Class Identification Find your vehicle’s GVWR by decoding the vin. Class 1-2: Light Duty (GVWR = 10,000 lbs or Less) This is a set of three reference cards designed to help law enforcement by depicting types of vehicles and vehicle weights so officers can correctly identify vehicle type. The first card...