Finance Abbreviations

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “D” is correct.
Basic Statistical Return (BSR) Code is a unique code assigned to each individual branch of banks by Reserve Bank of India. It consists of seven digits where first three digits represent the bank and remaining four digits represent the bank branch. It is used while filling the Tax Deducted at Source (TDS) and Tax Collected at Source (TCS) returns. BSR Code helps the bank to maintain a record of all online transactions done for tax through a bank branch. It also helps the Department of Income Tax to record the information about the payments made through a particular bank.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “B” is correct.
Asynchronous Transfer Mode (ATM) is a telecommunications standard defined for digital transmission of multiple types of traffic, including telephony (voice), data, and video signals in one network without the use of separate overlay networks. ATM was developed to meet the needs of the Broadband Integrated Services Digital Network, as defined in the late 1980s, and designed to integrate telecommunication networks.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
As the name suggests, direct selling agents or the DSA are experts brought direct business to institutes. With increasing competition in the banking sector, the banks and financial companies have assigned business developers as DSAs works in the field and giving clients for the financial goods provided by the banking industry, such as loans, credit cards, etc. They are paid a fixed percentage commission on the bank’s business.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
ARIMA is an acronym that stands for AutoRegressive Integrated Moving Average. It is a class of model that captures a suite of different standard temporal structures in time series data. In this tutorial, you will discover how to develop an ARIMA model for time series forecasting in Python.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “B” is correct.
Annual percentage rate (APR) refers to the yearly interest generated by a sum that’s charged to borrowers or paid to investors. APR is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan or income earned on an investment. This includes any fees or additional costs associated with the transaction, but it does not take compounding into account. The APR provides consumers with a bottom-line number they can compare among lenders, credit cards or investment products.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “C” is correct.
An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time and without the need for direct interaction with bank staff.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “D” is correct.
An authorized dealer is an individual or company authorized by a manufacturer to sell its products. This dealer has a franchise to represent a well-established brand and distribute its products.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “A” is correct.
An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. With an adjustable-rate mortgage, the initial interest rate is fixed for a period of time. After that, the interest rate resets periodically, at yearly or even monthly intervals.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “B” is correct.
A tax-sheltered annuity (TSA) is a retirement savings plan that allows employees of tax-exempt organizations and self-employed people to invest pretax dollars to build retirement income. Tax-sheltered annuities are designed to provide consistent payouts over time and act as a reliable source of income in retirement.[/bg_collapse]

[bg_collapse view=”button-orange” color=”#4a4949″ expand_text=”View Answer” collapse_text=”Hide Answer”]Option “D” is correct.
A systematic investment plan (SIP) is a plan in which investors make regular, equal payments into a mutual fund, trading account, or retirement account such as a 401(k). SIPs allow investors to save regularly with a smaller amount of money while benefiting from the long-term advantages of dollar-cost averaging (DCA).[/bg_collapse]