Exam: BEC Higher

Definition: To bring goods back into a country after they have been exported, often referring to products made from raw materials that were originally sent out.

Example: The company decided to reimport the textiles after realizing they could sell them at a higher price.

Definition: The act of bringing goods back into a country after they have been exported.

Example: The company is involved in the reimportation of electronics that were previously sold abroad.

Definition: A type of insurance that insurance companies buy to protect themselves from large losses by sharing the risk with other insurers.

Example: The insurance company decided to purchase reinsurance to reduce its financial risk.

Definition: To provide insurance coverage again, often by passing some or all of the risk to another insurance company through a new contract.

Example: The company decided to reinsure its policies to reduce potential losses.

Definition: A company or organization that provides insurance to other insurance companies, helping them manage risk by covering some of their potential losses.

Example: The reinsurer helped the insurance company recover from the financial impact of the natural disaster.

Definition: To put money or resources back into a business or investment after receiving returns from it, often to generate more profit.

Example: After receiving dividends, she decided to reinvest the money into the company.

Definition: Putting money back into an investment or project after the initial investment has been made.

Example: The company decided on reinvestment to expand its operations and improve its facilities.

Definition: A person or organization that issues something again, such as a document or a financial instrument.

Example: The bank acted as a reissuer of the bonds after the initial offering.

Definition: A second lending of something, or a renewal of a loan that has already been given.

Example: After paying off the first loan, she decided to take out a reloan to finance her new car.

Definition: To create a product again by taking apart an old one, cleaning it, fixing any broken parts, and putting it back together so that it works like new.

Example: The company decided to remanufacture old engines to reduce waste and save costs.