What Is a Certified Trust and Fiduciary Advisor (CTFA)? The Certified Trust and Fiduciary Advisor (CTFA) is a professional designation offered by the American Bankers Association (ABA), which provides training and knowledge in taxes, investments, financial planning, trusts, and estates. Previously called the Certified Trust and Financial Advisor certification, the ABA replaced “Financial” in the title
What Is Cestui Que Vie? Cestui que vie is French for “he who lives”. It is a legal term for an individual who is the beneficiary of a trust or an insurance policy, with rights to property and the income and profits that the property provides. A cestui que trust is the person entitled to
What Is Ceteris Paribus? Ceteris paribus, literally “holding other things constant,” is a Latin phrase that is commonly translated into English as “all else being equal.” A dominant assumption in mainstream economic thinking, it acts as a shorthand indication of the effect of one economic variable on another, provided all other variables remain the same
What Is a Chartered Financial Analyst (CFA)? A chartered financial analyst (CFA) is a globally-recognized professional designation given by the CFA Institute, (formerly the AIMR (Association for Investment Management and Research)), that measures and certifies the competence and integrity of financial analysts. Candidates are required to pass three levels of exams covering areas, such as
What Is the CFA Franc? The CFA franc, backed by the French treasury and pegged to the euro, refers to both the Central African CFA franc (XAF) and the West African CFA franc (XOF), and is accepted in 14 member countries. CFA stands for Communauté financière d’Afrique or African Financial Community. In 2019, the CFA Franc was
What Is the CFA Institute? The CFA Institute is an international organization that provides investment professionals with education, a code of ethics to follow, and several certification programs. Formerly known as the Association for Investment Management and Research (AIMR), the CFA Institute’s primary mandate is to specify and maintain a high standard for the investment industry.
What Is Cash Flow After Taxes? (CFAT) Cash flow after taxes (CFAT) is a measure of financial performance that shows a company’s ability to generate cash flow through its operations. It is calculated by adding back non-cash charges such as amortization, depreciation, restructuring costs, and impairment to net income. CFAT is also known as after-tax
What Is a Controlled Foreign Corporation (CFC)? A controlled foreign corporation (CFC) is a corporate entity that is registered and conducts business in a different jurisdiction or country than the residency of the controlling owners. In the United States, a CFC is a foreign corporation in which U.S. shareholders own more than 50% of the
What Is CFLEX? CFLEX is an electronic trading platform for customized options, run by the Cboe Options Exchange (Cboe) since 2007. It allows traders to trade options with customizable variables automatically, electronically, and anonymously instead of having to handle each trade by hand because of the unique terms of each option. CFLEX is an extension
What Is the Commodity Futures Modernization Act (CFMA)? The Commodity Futures Modernization Act (CFMA), signed into law on Dec. 21, 2000, overhauled U.S. financial regulations in response to rapid growth in over-the-counter (OTC) derivatives. CFMA clarified the roles of the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) in regulating an expanded
