Warranty

A warranty is a seller’s or manufacturer’s promise about the condition and performance of a product or service. It sets out the remedies (repair,…

War Bond

A war bond is a government-issued debt security used to raise funds specifically for military and defense expenditures during wartime or other national emergencies.…

Wall Street

Key takeaways – “Wall Street” is both a physical street in lower Manhattan and a widely used shorthand for the U.S. financial industry and…

Waiver of Subrogation

Key Takeaways – A waiver of subrogation is a contractual provision in which an insured agrees to prevent their insurer from pursuing a third…

W-8 Forms

W-8 forms are a family of Internal Revenue Service (IRS) certificates used by non‑U.S. persons (individuals and businesses) to certify foreign status and claim…

Volcker Rule

Key takeaways – The Volcker Rule (Section 619 of the Dodd‑Frank Act, 2010) prohibits insured depository institutions and their affiliates from proprietary trading (trading…

Volatility

Key takeaways – Volatility measures how widely returns for a security or market index vary over time; it is most commonly expressed as the…

Volatility Skew, Smile, and Smirk

Key takeaways – Volatility skew describes how implied volatility (IV) varies across option strike prices for the same expiration. Skew patterns reflect market expectations…

Vladimir Ilyich Ulyanov (Lenin)

Introduction Vladimir Ilyich Ulyanov (1870–1924), known by the pseudonym Lenin, led the Bolshevik Revolution of 1917 and became the first head of the state…

Visual Basic for Applications (VBA)

Introduction Visual Basic for Applications (VBA) is the embedded programming language in Microsoft Office. It lets users automate repetitive tasks, build custom functions, manipulate…