Indenture

• An indenture is a formal, legally binding written agreement between parties—commonly used for bonds, real‑estate arrangements, and some bankruptcy documents. (Investopedia; Cornell LII)…

Indemnity Insurance

Indemnity insurance is a form of liability coverage that reimburses an insured party for losses or pays legal costs when that party is found…

Kappa

Introduction Kappa — more commonly called vega — is one of the primary option “Greeks.” It measures how sensitive an option’s price is to…

Incurred But Not Reported Ibnr

Key takeaways – IBNR are reserves insurers set aside for claims that have already been incurred (events have happened) but have not yet been…

Incumbent

Key takeaways – An incumbent is an entity (usually a person) that currently holds a particular office, position, or role. – The term is…

Kangaroos

Key takeaways – “Kangaroos” commonly refers to Australian equities that make up the All‑Ordinaries Index, the oldest broad market index on the Australian Securities…

Incumbency Certificate

An incumbency certificate (also called a certificate of incumbency, secretary’s certificate, or form of incumbency) is an official company document that identifies who currently…

Incremental Cost

• Incremental cost (also called marginal cost) is the extra cost a firm incurs to produce one additional unit of output or to increase…

Kamikaze Defense

A kamikaze defense is an extreme, last-resort set of actions a target company’s management may take to prevent a hostile takeover. The term—derived from…

Incremental Cash Flow

Incremental cash flow (ICF) is the additional cash a firm expects to receive (or pay) if it accepts a new project or chooses one…