Business / Finance Glossary

Fixed Cost: Payments to a beneficiary that are paid in fixed preset amounts and are not variable.

Fixed Costs: A cost that is fixed in total for a given period of time and for given production levels.

Fixed Dates: Expenses that are assumed not to vary with sales volume within the expected range of sales volumes, such as rent or administrative costs. This is an important concept in breakeven analysis a . . . View Full Definition

Fixed Exchange Rate: In the Euromarket, the standard periods for which Euros are traded (one month out to a year out) are referred to as the fixed dates.

Fixed Income Equivalent: A country's decision to tie the value of its currency to another country's currency, gold (or another commodity), or a basket of currencies.

Fixed Income Instruments: Also called a busted convertible. Convertible security that is trading like a straight security because the optioned common stock is trading well below the conversion price.

Fixed Income Market: Assets that pay a fixed dollar amount, such as bonds and preferred stock.

Fixed Premium: The market for trading bonds and preferred stock.

Fixed Price Basis: Payments of a fixed, equal amounts paid to an insurance company for insurance or an annuity.

Fixed Trust: An offering of securities at a fixed price.

Fixed-Charge Coverage Ratio: A unit investment trust consisting of securities that were agreed upon at the time of investment and do not change.

Fixed-Dollar Obligations: A measure of a firm's ability to meet its fixed-charge obligations: the ratio of (net earnings before taxes plus interest charges paid plus long-term lease payments) to (interest charges pai . . . View Full Definition

Fixed-Dollar Security: Conventional bonds for which the coupon rate is set at a fixed percentage of the par value.

Fixed-Price Tender Offer: A nonnegotiable debt security that can be redeemed at some fixed price or according to some schedule of fixed values, e.g., bank deposits and government savings bonds.

Fixed-Rate Loan: A one-time offer to purchase a stated number of shares at a stated fixed price, usually at a premium over the current market price.

Fixed-Rate Payer: A loan whose rate is fixed for the life of the loan.

Fixed-Term Reverse Mortgage: In an interest rate swap, the counterparty who pays a fixed rate, usually in exchange for a floating-rate payment.

Flag: A mortgage in which the lending institution provides payments to a homeowner for a fixed number of years.

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