ADJUSTABLE RATE MORTGAGE (ARM) is A mortgage that features predetermined adjustments of the interest rate at regular intervals. An ARM's interest rate is tied to an index outside the control of the lender.
UNSYSTEMATIC RISK, in securities, is price fluctuations resulting from the unique characteristics of specific securities. Unsystematic risk generally is eliminated in a well diversified portfolio. Also known as non-systematic risk.
PROFESSIONAL SERVICES are those services offered by university trained professionals, e.g. doctors, lawyers, and accountants for, normally, a professional fee.
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