Glossary: A

Accrued interest – Interest that has been earned but not received.

Actuary – a mathematician in the insurance field. Responsible for calculating premiums, developing plans and defining underwriting risk.

Accumulation plan – An arrangement which enables an investor to purchase mutual fund shares regularly in large or small amounts.

Agent – a licensed individual who represents several insurance companies and sells their products.

Annual Report – A financial report sent yearly to a publicly held firm’s shareholders. This report must be audited by independent auditors.

Annuitant – An individual who purchases an annuity and will receive payments from that annuity.

Annuity – A contract that guarantees a series of payments in exchange for a lump sum investment.

Ask price – A proposal to sell a specific quantity of securities at a named price.

Assets – What a firm or individual owns.