Gaussian quadrature is
A. A quadratic spline approximation to a normal distribution
B. A way to approximate an integral of a function of a normally distribute variable as a sum of terms
C. A procedure for speeding up Monte Carlo simulation when credit derivatives are valued
D. An alternative to a look up table to determining values of the cumulative normal distribution
B
Gaussian quadrature is a way of integrating over a normally distributed factor when CDOs are valued using the Gaussian copula model. Extreme values of the factor are considered appropriately
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The degree of separation of duties varies with the size of the business
Indicate whether the statement is true or false
James and Debra Reid purchased a home for $623,000 in January 2014. They put down $62,300 and financed the remainder with Fifth Third Bank. Fifth Third Bank recorded its mortgage on February 1, 2014. On March 31, 2014, the Reids purchased a swimming pool and the pool contractors, Cristoria Pools, financed the construction for $45.000. Cristoria recorded a second mortgage on the property on April
15, 2014. On December 15, 2014, the Reids sold their house to the Griffins for $720,000. The Griffins put $120,000 down and agreed to pay the Reids for the existing mortgage in wrap-around. The mortgage balance at the time of the sale was $619,000. The balance on the Cristoria mortgage was $42,000. On August 15, 2015, the Griffins defaulted on their payments. The Reids had already purchased another home and were unable to make the payments on the home. Fifth Third Bank foreclosed on the mortgage. ?Who has second priority after expenses are paid? A)?Fifth Third Bank B)?Cristoria Pools C)?The Reids D)?The Griffins
Scholfield Enterprises makes a variety of products that it sells to other businesses. The company's activity-based costing system has four activity cost pools for assigning costs to products and customers. Details concerning that ABC system are listed below:Activity Cost PoolActivity MeasureActivity RateSupporting assemblyDirect labor-hours (DLHs)$6.55per DLHProcessing batchesNumber of batches$138.20per batchProcessing ordersNumber of orders$52.60per orderServing customersNumber of customers$1,191.00per customerThe cost of serving customers, $1,191.00 per customer, is the cost of serving a customer for one year.Latif Corporation buys only one of the company's products which Scholfield Enterprises sells for $15.60 per unit. Last year Latif Corporation ordered a total of 1,100 units of this
product in 2 orders. To fill the orders, 7 batches were required. The direct materials cost is $7.85 per unit and the direct labor cost is $1.90 per unit. Each unit requires 0.10 DLHs.According to the ABC system, the total cost of the activity "Processing batches" for this customer this past year was closest to: A. $52.60 B. $967.40 C. $1,020.00 D. $138.20
Every relation without partial functional dependencies is in 3NF
Indicate whether the statement is true or false