Question

A direct advance made in lump sum against some security is called

Answer 1

lump-sum payment is a one-time payment for the value of an asset such as an annuity or another retirement vehicle. A lump-sum payment is usually taken in lieu of recurring payments distributed over a period of time. The value of a lump-sum payment is generally less than the sum of all payments that you would otherwise receive, since the party paying the lump-sum payment is being asked to provide more funds up front than it otherwise would have been required to.