| Term | Definition |
|---|---|
| U-6 (Unemployment) Rate | A broader measure of unemployment that includes discouraged workers and those employed part-time for economic reasons |
| U-Shaped Recovery | A type of economic recovery characterized by a sharp decline followed by a slow and gradual rise |
| Uberrimae Fidei Contract | A contract of utmost good faith, common in insurance |
| UBS | A global financial services company |
| UCC-1 Statement | A filing that perfects a security interest |
| UCLA Anderson School of Management | A business school at the University of California, Los Angeles |
| UDAAP | Unfair, deceptive, or abusive acts or practices |
| Ulcer Index (UI) | A measure of downside risk |
| Ultima | A type of financial product |
| Ultimate Mortality Table | A mortality table that reflects mortality rates after the initial select period |
| Ultimate Net Loss | The total loss after all recoveries and reinsurance |
| Ultimate Oscillator | A technical indicator |
| Ultimogeniture | A system of inheritance where the youngest child inherits |
| Ultra ETF | An exchange-traded fund that tracks an index with leverage |
| Ultra-High Net-Worth Individual (UHNWI) | An individual with a very high net worth |
| Ultra-Short Bond Fund | A bond fund that invests in very short-term bonds |
| Ultra Vires Acts | Acts by a corporation that exceed its powers |
| Ultrafast Trading | Extremely high-speed trading |
| Umbrella Insurance Policy | A type of liability insurance that provides coverage beyond other policies |
| Umbrella Personal Liability Policy | Same as Umbrella Insurance Policy |
| Umpire Clause | A clause in a contract that provides for the use of an umpire to resolve disputes |
| UN Principles for Responsible Investment (PRI) | A set of principles for responsible investing |
| Unadjusted Basis | The original cost of an asset |
| Unaffiliated Investments | Investments in companies that are not related to the investor |
| Unallocated Loss Adjustment Expenses (ULAE) | Expenses related to adjusting losses that cannot be allocated to specific claims |
| Unamortized Bond Discount | The portion of a bond discount that has not yet been amortized |
| Unamortized Bond Premium | The portion of a bond premium that has not yet been amortized |
| Unappropriated Retained Earnings | Retained earnings that are not designated for a specific purpose |
| Unauthorized Insurer | An insurer that is not licensed to do business in a particular jurisdiction |
| Unbanked | Individuals who do not have a bank account |
| Unbiased Predictor | A predictor that is equally likely to overestimate or underestimate |
| Unbundled Life Insurance Policy | A life insurance policy that separates the death benefit from the cash value |
| Unbundling | Separating services that were previously bundled |
| UNC Kenan-Flagler Business School | A business school at the University of North Carolina at Chapel Hill |
| Unchanged | No change |
| Unclaimed Funds | Funds that have not been claimed by their rightful owner |
| Uncle Block (Cryptocurrency) | A block in a blockchain that is not connected to the main chain |
| Uncle Sam | A symbol of the U.S. government |
| Uncollected Funds | Funds that have not yet been collected |
| Uncommitted Facility | A line of credit that the lender is not obligated to provide |
| Unconsolidated Subsidiaries | Subsidiaries that are not included in the parent company’s consolidated financial statements |
| Unconstrained Investing | An investment strategy that does not have any restrictions |
| Unconventional Cash Flow | A cash flow pattern that does not follow a typical pattern |
| Unconventional Oil | Oil that is produced using unconventional methods |
| Uncovered Interest Arbitrage | A strategy that exploits differences in interest rates between countries |
| Uncovered Interest Rate Parity (UIP) | A theory about the relationship between interest rates and exchange rates |
| Uncovered Option | An option position where the writer does not own the underlying asset |
| Undated Issue | A bond with no maturity date |
| Under Reporting | Reporting less income than actually earned |
| Underapplied Overhead | Overhead that is less than actual overhead |
| Underbanked | Individuals who have a bank account but also rely on other financial services |
| Undercapitalization | Having insufficient capital |
| Undercast | To underestimate future revenue or expenses |
| Underconsumption | Spending less than one’s income |
| Underemployment | Individuals who are employed but working fewer hours than desired or in jobs below their skill level |
| Underemployment Equilibrium | A situation where there is underemployment |
| Underfunded Pension Plan | A pension plan with insufficient assets to meet its obligations |
| Underground Economy | Economic activity that is not reported to the government |
| Underinsurance | Having insufficient insurance coverage |
| Underinsured Motorist Coverage | Insurance that covers damages caused by a driver who does not have enough insurance |
| Underinsured Motorist Coverage Limits Trigger | The point at which underinsured motorist coverage is activated |
| Underinsured Motorist Endorsement | An addition to an insurance policy that provides underinsured motorist coverage |
| Underinvestment Problem | A situation where a company invests less than it should |
| Underlying | The asset or security on which a derivative is based |
| Underlying Asset | Same as Underlying |
| Underlying Debt | The debt that is used to secure a mortgage-backed security |
| Underlying Mortality Assumption | The assumed mortality rate used in an insurance or annuity contract |
| Underlying Option Security | The security on which an option is based |
| Underlying Profit | The profit before considering certain items |
| Underlying Retention | The amount of risk retained by an insurance company |
| Underlying Security | Same as Underlying |
| Underpayment Penalty | A penalty for not paying enough taxes |
| Underperform | To perform worse than expected |
| Underpricing | Setting a price below market value |
| Undersubscribed | A situation where demand is less than supply |
| Undertakings Collective Investment in Transferable Securities (UCITS) | A type of investment fund in Europe |
| Undervalued | A situation where an asset is trading below its fundamental value |
| Underwater | A situation where the value of an asset is less than the amount owed on it |
| Underwater Mortgage | A mortgage where the loan balance is greater than the value of the property |
| Underweight | A recommendation to decrease exposure to a particular asset |
| Underwithholding | Not withholding enough taxes from income |
| Underwriter | A financial institution that guarantees the sale of securities |
| Underwriter Syndicate | A group of underwriters |
| Underwriters Laboratories (UL) | A safety testing and certification organization |
| Underwriting | The process of assessing risk |
| Underwriting Agreements | Agreements between an issuer and underwriters |
| Underwriting Capacity | The amount of risk an insurer is willing to take on |
| Underwriting Cycle | The cyclical nature of the insurance industry |
| Underwriting Expenses | Expenses incurred in the underwriting process |
| Underwriting Fees in Insurance | Fees charged for underwriting insurance policies |
| Underwriting Group | A group of underwriters |
| Underwriting Income | Income earned from underwriting activities |
| Underwriting Risk | The risk that an insurer will have to pay out claims |
| Underwriting Spread | The difference between the price an underwriter pays for securities and the price they sell them for |
| Underwriting Standards | The criteria used to assess risk |
| Undisclosed Reserves | Reserves that are not disclosed in financial statements |
| Undivided Account | A type of account |
| Undivided Profit | Profit that has not been allocated |
| Undue Influence | Persuasion that overcomes someone’s free will |
| Unearned Discount | Discount that has not yet been earned |
| Unearned Income | Income that has not yet been earned |
| Unearned Interest | Interest that has not yet been earned |
| Unearned Premium | Premium that has not yet been earned |
| Unearned Revenue | Revenue that has not yet been earned |
| Uneconomic Growth | Economic growth that leads to a decline in well-being |
| Unemployment | The state of being without a job |
| Unemployment Claim | A claim for unemployment benefits |
| Unemployment Compensation | Benefits paid to unemployed individuals |
| Unemployment Compensation Amendments of 1992 | A U.S. law related to unemployment compensation |
| Unemployment Income | Income received from unemployment benefits |
| Unemployment Insurance (UI) | A government program that provides benefits to unemployed individuals |
| Unemployment Rate | The percentage of the labor force that is unemployed |
| Unencumbered Assets | Assets that are not subject to any liens or claims |
| Unfair Claims Practice | Unfair practices by insurance companies in handling claims |
| Unfair Trade Practice | Deceptive or unfair business practices |
| Unfavorable Variance | A variance that is unfavorable |
| Unfunded Pension Plan | Same as Underfunded Pension Plan |
| Unicameral System | A legislative body with one chamber |
| Unicorn | A privately held startup company valued at over $1 billion |
| Unified Managed Account (UMA) | A type of investment account |
| Unified Managed Household Account (UMHA) | A type of investment account |
| Unified Payment Interface (UPI) | A real-time payment system in India |
| Unified Tax Credit | A tax credit that can be used to offset estate and gift taxes |
| Uniform Bank Performance Report (UBPR) | A report used to analyze bank performance |
| Term | Definition |
|---|---|
| Uniform Commercial Code (UCC) | A set of laws governing commercial transactions |
| Uniform Consumer Credit Code (UCCC) | A set of laws governing consumer credit transactions |
| Uniform Distribution | A probability distribution where all outcomes are equally likely |
| Uniform Gifts to Minors Act (UGMA) | A law that allows gifts to be made to minors |
| Uniform Individual Accident and Sickness Policy Provisions Act | A model law related to health insurance policies |
| Uniform Partnership Act (UPA) | A law governing partnerships |
| Uniform Policy Provisions, Health Insurance | Standard provisions in health insurance policies |
| Uniform Premarital Agreement Act | A law governing premarital agreements |
| Uniform Prudent Investor Act (UPIA) | A law governing investment by trustees |
| Uniform Rules for Demand Guarantees (URDG) | Rules governing demand guarantees |
| Uniform Securities Act | A model law regulating securities transactions |
| Uniform Simultaneous Death Act | A law addressing the distribution of property when individuals die simultaneously |
| Uniform Transfer Tax | A tax on the transfer of property |
| Uniform Transfers to Minors Act (UTMA) | A law that allows assets to be transferred to minors |
| Unilateral Contracts | Contracts where only one party makes a promise |
| Unilateral Transfer | A transfer of funds without an exchange of goods or services |
| Uninsurable Peril | A risk that cannot be insured |
| Uninsurable Property | Property that cannot be insured |
| Uninsurable Risk | Same as Uninsurable Peril |
| Uninsured Certificate of Deposit | A certificate of deposit that is not insured by the FDIC |
| Uninsured Motorist Coverage (UM) | Insurance that covers damages caused by a driver who does not have insurance |
| Unintentional Tort | A civil wrong that is not intentional |
| Unique Three River | A type of candlestick pattern |
| Unit Benefit Formula | A formula used to calculate pension benefits |
| Unit Cost | The cost of producing one unit |
| Unit Investment Trust (UIT) | A type of investment company |
| Unit Linked Insurance Plan (ULIP) | An insurance plan that combines insurance with investment |
| Unit of Production | A method of depreciation |
| Unit Sales | The number of units sold |
| Unit Trust (UT) | Same as Unit Investment Trust |
| Unitary Thrift | A type of thrift institution |
| United Nations (UN) | An international organization |
| United Nations Commission on International Trade Law (UNCITRAL) | A UN body that develops international trade law |
| United Nations Global Compact | A UN initiative promoting corporate sustainability |
| United States Agency for International Development (USAID) | A U.S. government agency that provides foreign aid |
| United States Aircraft Insurance Group (USAIG) | An insurance group specializing in aviation insurance |
| United States Department of Agriculture (USDA) | A U.S. government department |
| United States Government Life Insurance (USGLI) | A type of life insurance for veterans |
| United States Natural Gas Fund (UNG) | An exchange-traded fund that tracks natural gas prices |
| United States Treasury (UST) | The U.S. government’s treasury department |
| United States Treasury Money Mutual Funds | Money market funds that invest in U.S. Treasury securities |
| United States v. The South-Eastern Underwriter Association | A landmark Supreme Court case related to insurance regulation |
| Unitholder | A holder of units in a unit trust |
| Unitized Endowment Pool (UEP) | A type of investment pool |
| Unitized Fund | A fund where investors hold units |
| Unitranche Debt | A type of debt financing |
| Units Per Transaction (UPT) | The average number of units sold per transaction |
| Unisex Legislation | Laws that do not discriminate based on gender |
| Unissued Stock | Stock that has been authorized but not yet issued |
| Universal Banking | A type of banking that offers a wide range of services |
| Universal Default | A clause in a credit agreement that allows a lender to declare default if the borrower defaults on another loan |
| Universal Healthcare Coverage | Healthcare coverage for all citizens |
| Universal Life Insurance | A type of life insurance with flexible premiums and death benefits |
| Universal Market Integrity Rules (UMIR) | Rules governing trading on Canadian exchanges |
| Universe of Securities | All available securities |
| University of Miami School of Business Administration | A business school |
| Unlawful Loan | A loan that violates the law |
| Unlevered Beta | The beta of a stock without considering the impact of debt |
| Unlevered Cost of Capital | The cost of capital for a company without debt |
| Unlevered Free Cash Flow (UFCF) | Free cash flow before considering the impact of debt |
| Unlimited Liability | Liability that is not limited |
| Unlimited Liability Corporation (ULC) | A type of corporation with unlimited liability |
| Unlimited Marital Deduction | A tax deduction for assets passed to a surviving spouse |
| Unlimited Risk | Risk that is not limited |
| Unlisted Security | A security that is not traded on an exchange |
| Unlimited Tax Bond | A bond that is not subject to any tax limits |
| Unlisted Trading Privileges (UTP) | The ability to trade unlisted securities on an exchange |
| Unmatched Book | A situation where buy and sell orders do not match |
| Unofficial Strike | A strike that is not authorized by a union |
| Unpaid Dividend | A dividend that has not been paid |
| Unqualified Audit | An audit with no material misstatements |
| Unqualified Opinion | Same as Unqualified Audit |
| Unquoted Public Company | A public company whose shares are not traded on an exchange |
| Unrealized Gain | A gain on an asset that has not yet been sold |
| Unrealized Loss | A loss on an asset that has not yet been sold |
| Unrecaptured Section 1250 Gain | A type of gain for tax purposes |
| Unrecorded Deed | A deed that has not been recorded |
| Unregistered Shares | Shares that have not been registered with the SEC |
| Unrelated Business Taxable Income (UBTI) | Income earned by a tax-exempt organization that is not related to its exempt purpose |
| Unrestricted Cash | Cash that is not restricted for a specific purpose |
| Unrestricted Net Assets | Net assets that are not restricted |
| Unsatisfied Judgment Fund | A fund that pays judgments against uninsured drivers |
| Unscheduled Property Floater | A type of insurance policy |
| Unsecured | Not secured by collateral |
| Unsecured Creditors | Creditors whose loans are not secured by collateral |
| Unsecured Debt | Debt that is not secured by collateral |
| Unsecured Loan | A loan that is not secured by collateral |
| Unsecured Note | A type of unsecured debt |
| Unskilled Labor | Labor that does not require specialized skills |
| Unsolicited Application | A job application that is not in response to a job posting |
| Unsolicited Bid | An unsolicited offer to buy a company |
| Unsponsored ADR | An American Depositary Receipt that is not sponsored by the issuer |
| Unstated Interest Paid | Interest that is not explicitly stated |
| Unsterilized Foreign Exchange Intervention | Intervention in the foreign exchange market without adjusting the money supply |
| Unsubordinated Debt | Debt that is not subordinated to other debt |
| Unsubscribed | Shares that have been offered but not purchased |
| Unsuitable Investment | An investment that is not appropriate for a particular investor |
| Unsystematic Risk | Risk that is specific to a company or industry |
| Unusual Item | An item that is unusual in nature or infrequent in occurrence |
| Unweighted Index | An index where all components are equally weighted |
| Unwind | To reverse a trade |
| Up-and-In Option | An option that becomes active only if the underlying asset reaches a certain price |
| Up-and-Out Option | An option that becomes inactive if the underlying asset reaches a certain price |
| Up/Down Gap Side-by-Side White Lines | A candlestick pattern |
| Up-Front Mortgage Insurance (UFMI) | Mortgage insurance paid at the time of closing |
| Up-Market Capture Ratio | A measure of a manager’s performance in up markets |
| Up Volume | The volume of trading on days when the price goes up |
| Upfront Pricing | Pricing that is disclosed upfront |
| Upgrade | An improvement in credit rating |
| Uphold | A financial services company |
| Upper Class | A social class |
| Upper Management | The top executives of a company |
| UPREIT | An Umbrella Partnership Real Estate Investment Trust |
| Upside | The potential for gain |
| Upside/Downside Gap Three Methods | A candlestick pattern |
| Upside/Downside Ratio | A technical indicator |
| Upside Gap Two Crows | A candlestick pattern |
| Upside Tasuki Gap | A candlestick pattern |
| Upstairs Market | The over-the-counter market |
| Upstart | A new company |
| Upstream | A term used in the oil and gas industry |
| Upstream Capital Costs Index (UCCI) | An index of capital costs in the oil and gas industry |
| Upstream Guarantee | A guarantee provided by a parent company for the debt of a subsidiary |
| Term | Definition |
|---|---|
| Uptick Rule | A rule that restricts short selling |
| Uptick Volume | The volume of trading on days when the price goes up |
| Uptrend | A period of rising prices |
| Urban Development Act Of 1970 | A U.S. law related to urban development |
| U.S. Agency for International Development (USAID) | A U.S. government agency that provides foreign aid |
| U.S. Department of Health and Human Services (HHS) | A U.S. government department |
| U.S. Department of Housing and Urban Development (HUD) | A U.S. government department |
| U.S. Department of Veterans Affairs | A U.S. government department |
| U.S. Dollar Index (USDX) | A measure of the value of the U.S. dollar against other currencies |
| U.S. House Financial Services Committee | A committee of the U.S. House of Representatives |
| U.S.-Mexico Trade Agreement | A trade agreement between the U.S., Mexico, and Canada |
| U.S. Savings Bonds | Bonds issued by the U.S. government |
| U.S. Savings Bond Adjustment | An adjustment to the value of a U.S. savings bond |
| U.S. Treasury | Same as United States Treasury (UST) |
| Usance | A customary period of time for payment |
| USC Marshall School of Business | A business school |
| USD | The currency code for the U.S. dollar |
| USDA Streamlined Refinancing | A refinancing program offered by the USDA |
| Use and Occupancy (U&O) | An agreement that allows someone to use a property |
| Use Tax | A tax on goods purchased out of state for use in the state |
| Useful Life | The period over which an asset is expected to be used |
| User Fee | A fee charged for the use of a service |
| Usual, Customary, and Reasonable Fees | Fees for medical services that are considered reasonable |
| Usufruct | The right to use and enjoy the benefits of property |
| Usury | Charging an excessively high interest rate |
| Usury Laws | Laws that limit the amount of interest that can be charged |
| Usury Rate | The maximum interest rate that can be charged |
| Utilitarianism | A philosophical concept |
| Utilities Industry ETF | An exchange-traded fund that tracks the utilities sector |
| Utilities Sector | A sector of the economy |
| Utility | A company that provides essential services |
| Utility Patent | A type of patent |
| Utility Revenue Bond | A bond issued by a utility company |
| Utilization Fee | A fee charged for using a credit facility |
| UTXO | Unspent Transaction Output (in Bitcoin) |