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Period from January 1 to December 31 inclusive. Consists of 365 days except Leap Year and 12 months of varying lengths.

Extra property insurance policy which insures cameras and their equipment. Required when value exceeds policy limits.

Have a right to; have permission to.

Multi-purpose Customs Bond used for different customs situations.

Professional designation awarded upon successful completion of course of study.

Professional designation earned by examination following study courses.

Termination of insurance before the end of the policy period by either the insured or the insurer or termination of the insurance policy, the insured, on effective date.

(a) Provision in insurance policy or bond stipulating how cancellation can be effected.(b) Provision in a contract or lease which permits the parties to cancel or discharge their obligations there under.

(a) Measure of an insurer’s ability to issue insurance contracts. Usually determined by measuring largest amount it will accept on a given risk or by the maximum volume of business the company is prepared to accept.(b) Legal qualification as the ability to understand the nature and effects of one’s acts.

Method used to measure value of realty for purposes of determining value of a mortgage. Involved making estimation of the gross income which the property should realize and the expenses needed to carry it A capitalization factor, expertly chosen, is then applied to the net income amount. Depreciation must be considered when using this method.