What Is a Board of Trustees? A board of trustees is an appointed or elected group of individuals that has overall responsibility for the management of an organization. The board of trustees is typically the governing body of an organization and seeks to ensure the best interest of stakeholders in all types of management decisions.
What Is Boat Owners’ Insurance? As its name suggests, boat owners’ insurance is a type of insurance that protects owners of boats. It is similar to automobile insurance in that it protects the owner from claims relating to the physical damage of their vehicle, or to injuries or death caused in the operation of that
What Is Body of Knowledge? Body of knowledge (BOK) refers to the core teachings and skills required to work in a particular field or industry. The body of knowledge (BOK) is usually defined by professional associations or societies. Members of the profession outline what is needed to do their jobs and that forms the foundation
What Is the Bank of England (BoE)? The Bank of England (BoE) is the central bank of the United Kingdom. The BoE oversees monetary policy and issues currency. It also regulates banks, financial firms, and payment systems. Like other central banks, the BoE may act as a lender of last resort in a financial crisis.
What Is Boilerplate? The term boilerplate refers to standardized text, copy, documents, methods, or procedures that may be used over again without making major changes to the original. A boilerplate is commonly used for efficiency and to increase standardization in the structure and language of written or digital documents. This includes contracts, investment prospectuses, and
What Is Bank-Owned Life Insurance? Bank-owned life insurance (BOLI) is a product where the bank is the policy beneficiary and usually the owner. Such insurance is used as a tax shelter for the financial institutions, which leverage its tax-free savings provisions as funding mechanisms for employee benefits. This permanent life insurance policy is often purchased
A Bollinger Band® is a technical analysis tool defined by a set of trendlines. They are plotted as two standard deviations, both positively and negatively, away from a simple moving average (SMA) of a security’s price and can be adjusted to user preferences. Bollinger Bands® was developed by technical trader John Bollinger and designed to
What Is the Bombay Stock Exchange (BSE)? The Bombay Stock Exchange (BSE) is the first and largest securities market in India and was established in 1875 as the Native Share and Stock Brokers’ Association. Based in Mumbai, India, the BSE lists close to 6,000 companies and is one of the largest exchanges in the world
What Is a Bona Fide Foreign Resident? Any resident of a foreign country who meets the Internal Revenue Service (IRS) criteria for the bona fide residence test. This test classifies any person who lives in any foreign country for an uninterrupted period that includes an entire tax year—defined as the period from January 1 through
What Is Bona Vacantia? Bona vacantia, also known as “vacant goods” or “ownerless goods” in Latin, is a legal term for the situation in which property is left without any clear owner. The bona vacantia property may have been abandoned, mislaid, or forgotten by the owner. Bona vacantia can also refer to property left by
