American Academy Of Actuaries

Definition of "American academy of actuaries"

Professional association that sets standards of performance for those engaged in actuarial functions. Members are entitled to use the professional designation MAAA (Member, American Academy of Actuaries). The U.S. Department of Labor and the Internal Revenue Service requires that documents filed with these governmental agencies be signed by a member of the American Academy of Actuaries attesting to the validity of actuarial calculations concerning benefits to be paid and their funding. The academy is located in Chicago, Illinois.

Search Real Estate Glossary

Related Real Estate Glossary terms

COFI

Cost-of-Funds Index, one of many interest rate indexes used to determine interest rate adjustments o ...

Leveraged Split Dollar Life Insurance

Modified collateral split dollar life insurance plan under which the employee purchases and owns a l ...

Stare Decisis

Latin phrase meaning "to stand by the decisions." This legal doctrine under common law requires cour ...

Consumer Credit Protection Act

1968 federal legislation that makes it mandatory for lenders to disclose to credit applicants the an ...

Captive Agent

Representative of a single insurer or fleet of insurers who is obliged to submit business only to th ...

Contract Holder

In insurance, individual with rightful possession of an insurance policy, usually the policyowner. ...

Related Real Estate FAQ

What Does Fannie Mae Mean?

Fannie Mae is a name used by the Federal National Mortgage Association, which is a government-charte ...

What Is A Proration?

A proration is the division of certain fees. If the sellers have paid the taxes six months in advanc ...

What Are My Coverage Options?

Our agents have a wide range of coverages available, as well as an array of choices for limits and d ...

Should I Pay Points For A Lower Rate?

Paying points for a lower interest rate is a trade off between paying money now versus paying money ...

What Is Disability Insurance?

Line of insurance, which included coverages that are designed to protect the insured against a loss ...

What Happens When A Property Starts To Depreciate?

When a property depreciates it declines in the value of the property due to poor location, dilapidat ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews

Agents join here

Add our widget on your Website

Real Estate Advice

Real Estate Open House - The Dos and Don What is Escrow and how does it Work? How to become a real estate agent Getting Ready to Sell? Don't make these DIY Mistakes! What Costs Do Buyers and Sellers Pay On Big Day When Escrow Closes?

FAQ

What type of Life Insurance is right for me? How much Life Insurance do I need? What is the difference between a real estate broker and a real estate agent? What is PITI and what does it stand for? What do I need to know about Homeowners Insurance?