Business / Taxes Glossary

No-Load Mutual Fund: You buy a no-load mutual fund directly from the investment company that sponsors the fund. You pay no sales charge, or load, on the fund when you buy or sell shares. Although, no-load funds . . . View Full Definition

Nominal Yield: Nominal yield is the annual income that you receive from a bond or other fixed-income security divided by the par value of the security. The result, stated as a percentage, is the same as th . . . View Full Definition

Nominee Name: Nominee name is the name that a brokerage firm uses to register ownership of stocks or bonds it holds for investors. Holding stock in a single generic name, sometimes known as street name, m . . . View Full Definition

Nonbank Banks: Nonbank banks, also called limited-service banks, offer some but not all of the services of a traditional commercial bank. They're typically owned by companies, including insurance companies . . . View Full Definition

Noncallable: When a bond is noncallable, the issuer cannot redeem it before the stated maturity date. Some bonds have call protection for their full term, and others for a fixed period — often ten years. . . . View Full Definition

Noncompetitive Bid: Investors who can't or don't wish to meet the minimum purchase requirements for competitive bidding on Treasury bills or notes may enter a noncompetitive bid. You can invest as little as $1, . . . View Full Definition

Nondiscrimination Rule: All qualified retirement plans, including 401(k) plans, must follow nondiscrimination rules. Among other things, the rules prevent highly paid employees from receiving more generous benefits . . . View Full Definition

Nonforfeiture Clause: If there is a nonforfeiture clause in your insurance policy contract, and you have let the policy lapse because you haven’t paid a premium that’s due, you may qualify for the benefit named i . . . View Full Definition

Nonprofit: Charitable, cultural, and educational organizations that exist for reasons other than providing a profit for its owners, directors, or members are nonprofit organizations. However, these org . . . View Full Definition

Nonqualified Annuity: An annuity you buy on your own, rather than through a qualified employer sponsored retirement plan or individual retirement arrangement, is a nonqualified annuity. Nonqualified annuities are . . . View Full Definition

Nonsystematic Risk: Nonsystematic risk results from unpredictable factors, such as poor management decisions, successful competitive products, or suddenly obsolete technologies that may affect the securities is . . . View Full Definition

Not-For-Profit: A not-for-profit organization pays taxes and may make a profit, but those profits are not distributed to its owners or members. Private clubs, sports organizations, political organizations, . . . View Full Definition

Note: A note is a debt security that promises to pay interest during the term that the issuer has use of the money, and to repay the principal on or before the maturity date. For US Treasury secur . . . View Full Definition

NYSE Arca: NYSE Arca, one of the two securities exchanges operated by the NYSE Group, Inc., is the first open, all-electronic stock exchange in the United States. Trades are executed quickly — electron . . . View Full Definition

Odd Lot: The purchase or sale of securities in quantities of fewer than the standard trading lot — 100 shares of stock or $1,000 worth of bonds — is considered an odd lot. At one time, trading an odd . . . View Full Definition

Off-Board: Transactions in New York Stock Exchange (NYSE) listed securities that aren’t executed on a national exchange are known as off-board transactions. Those trades may be handled through an elect . . . View Full Definition

Offer: The offer is the price at which someone who owns a security is willing to sell it. It’s also known as the ask price, and is typically paired with the bid price, which is what someone who wan . . . View Full Definition

Offering Date: The offering date is the first day on which a stock or bond is publicly available for purchase. For example, the first trading day of an initial public offering (IPO) is its offering date.

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