GCPA Glossary

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Banker's acceptances
A short-term credit investment which is created by a non-financial firm and whose payment is guaranteed by a bank. Often used in importing and exporting and as a money market fund investment.

Bear market
An extended period of declining values in the financial markets, usually by 20 percent.

Benchmark
A reference point that is chosen for the purposes of comparing related values.

Beneficiary
The person, persons, or entity designated to receive benefits upon the death of the insured.

Benefit period
The length of time specified in a policy that benefits will be paid to an insured.

Blue Chip Stock Fund
A mutual fund that consists of a portfolio of large or well known companies for the purposes of achieving growth. Refer to the fund's prospectus for complete information on risks, fees and expenses.

Bond
A bond is an IOU issued by a corporation, the government or its agencies. The issuer promises to pay bondholders a stated rate of interest and to repay the principal at maturity.

Broker
A licensed individual who may sell securities and/or insurance.

Brokerage firm
A firm that sells securities. Brokerage firms are most known for the sale of stock.

Bull market
A good market in which prices of securities increase greatly over a specific time period.

Business overhead expense
Coverage which helps keep a business operating when a business owner is disabled. Provides short-term benefits to cover fixed operating expenses during total or partial disability.

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