Find the following: \[\begin{array} { | l | l | l | l | } \hline \text { Face Value } & \text { Age and Sex of Insured } & \text { Type of Insurance } & \text { Annual Premium } \\ \hline \$ 76,000 & 25 \mathrm { M } & 5 \text {-Year Term } & \text { A } \\ \hline \end{array}\]

The answer of Find the following: \[\begin{array} { | l...

Find the following: \[\begin{array} { | l | l | l | l | } \hline \text { Face Value } & \text { Age and Sex of Insured } & \text { Type of Insurance } & \text { Annual Premium } \\ \hline \$ 100,000 & 30 \mathrm { M } & 20 - P \text { ay Life } & \text { A } \\ \hline \end{array}\]

The answer of Find the following: \[\begin{array} { | l...

Calculate the cost of the premium: \[\begin{array} { | l | l | l | l | } \hline \text { Rating of Area } & \text { Class } & \text { Building } & \text { Contents } \\ \hline 2 & \text { A } & \$ 80,000 & \$ 50,000 \\ \hline \end{array}\]

The answer of Calculate the cost of the premium: \[\begin{array}...

Find the following: \[\begin{array} { | l | l | l | l | } \hline \text { Face Value } & \text { Age and Sex of Insured } & \text { Type of Insurance } & \text { Annual Premium } \\ \hline 26,000 & 37 \mathrm {~F} & \text { Straight Life } & \text { A } \\ \hline \end{array}\]

The answer of Find the following: \[\begin{array} { | l...

Exam 20: Life, Fire, and Auto Insurance

Given the following information and using the tables in the handbook, the total annual premium is: Class 17 operator Compulsory 10/20/5 Symbol 5 Age 4 Optional 100/300 bodily Collision $200 deductible Comprehensive $200 deductible

(Multiple Choice)

4.8/5

(74)

Question 61

Match the following terms with their definitions. -Premium

(Multiple Choice)

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(74)

Question 62

Joan Raft had taken out an $80,000 fire insurance policy for her new shop at a rate of $.81 per $100. Seven months later, Joan canceled the policy and decided to move the shop to a new location. What refund did she receive?

(Short Answer)

4.9/5

(75)

Question 63

Jim Leary insured his bookstore with a fire insurance policy of $90,000 at a cost of $.58 per $100. Eight months later his insurance company canceled the policy because of failure to correct a fire hazard. What did Jim have to pay for the eight months of coverage?

(Short Answer)

4.8/5

(77)

Question 64

Find the following: Face Value Age and Sex of Insured Type of Insurance Annual Premium \ 76,000 25 5 -Year Term A

(Short Answer)

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(80)

Question 65

Find the following: Face Value Age and Sex of Insured Type of Insurance Annual Premium \ 100,000 30 20-P ay Life A

(Short Answer)

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(79)

Question 66

Calculate the cost of the premium: Rating of Area Class Building Contents 2 A \ 80,000 \ 50,000

(Short Answer)

4.8/5

(70)

Question 67

Abby Small, age 40, wants to take out a $300,000 term insurance policy. What is her annual premium? At the end of five years, what is the cash value?

(Short Answer)

4.8/5

(71)

Question 68

Find the following: Face Value Age and Sex of Insured Type of Insurance Annual Premium 26,000 37 Straight Life A

(Short Answer)

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(72)

Question 69

Joe Rossen opened a pizza shop. He insures his shop for $90,000 for fire. What is his insurance premium if the rate per $100 is $.83?

(Short Answer)

4.9/5

(81)

Question 70

Which one of the following builds up no cash value?

(Multiple Choice)

4.8/5

(92)

Question 71

A 20-year endowment does not build up any cash value by the end of year 5.

(True/False)

4.8/5

(75)

Question 72

Match the following terms with their definitions. -No-fault

(Multiple Choice)

4.8/5

(70)

Question 73

Lowering deductibles for collision will result in increased premiums.

(True/False)

4.7/5

(66)

Question 74

Calculate the amount the insurance company will pay: Value of Property Amount of Insurance Policy Actual Fire Loss Amount Insurance Company will pay \ 70,000 \ 40,000 80\% Co-Ins \ 11,200 A \ 90,000 \ 50,000 80\% Co-Ins \ 36,000 B

(Short Answer)

4.7/5

(82)

Question 75

Match the following terms with their definitions. -Indemnity

(Multiple Choice)

4.8/5

(74)

Question 76

John Davis's store is worth $400,000 and is insured for $240,000. Assuming an 80% coinsurance clause and a fire that caused $100,000 of damage, what is the liability of the insurance company?

(Short Answer)

4.9/5

(78)

Question 77

Using the tables in the handbook, calculate Joe Wheel's Auto premium: Class 17 operator Compulsory 10/20/5 Symbol 5 Age 4 Optional 100/300 bodily Collision $300 deductible Comprehensive $300 deductible Damage to someone else's property 25M Towing

(Short Answer)

4.9/5

(91)

Question 78

Match the following terms with their definitions. -Endowment insurance

(Multiple Choice)

4.9/5

(87)

Question 79

Premiums for straight-life insurance are higher than premiums for term insurance.

(True/False)

4.7/5

(84)

Question 80

Exam 20: Life, Fire, and Auto Insurance

Given the following information and using the tables in the handbook, the total annual premium is: Class 17 operator Compulsory 10/20/5 Symbol 5 Age 4 Optional 100/300 bodily Collision $200 deductible Comprehensive $200 deductible

Match the following terms with their definitions. -Premium

Joan Raft had taken out an $80,000 fire insurance policy for her new shop at a rate of $.81 per $100. Seven months later, Joan canceled the policy and decided to move the shop to a new location. What refund did she receive?

Jim Leary insured his bookstore with a fire insurance policy of $90,000 at a cost of $.58 per $100. Eight months later his insurance company canceled the policy because of failure to correct a fire hazard. What did Jim have to pay for the eight months of coverage?

Find the following: Face Value Age and Sex of Insured Type of Insurance Annual Premium \ 76,000 25 5 -Year Term A

Find the following: Face Value Age and Sex of Insured Type of Insurance Annual Premium \ 100,000 30 20-P ay Life A

Calculate the cost of the premium: Rating of Area Class Building Contents 2 A \ 80,000 \ 50,000

Abby Small, age 40, wants to take out a $300,000 term insurance policy. What is her annual premium? At the end of five years, what is the cash value?

Find the following: Face Value Age and Sex of Insured Type of Insurance Annual Premium 26,000 37 Straight Life A

Joe Rossen opened a pizza shop. He insures his shop for $90,000 for fire. What is his insurance premium if the rate per $100 is $.83?

Which one of the following builds up no cash value?

A 20-year endowment does not build up any cash value by the end of year 5.

Match the following terms with their definitions. -No-fault

Lowering deductibles for collision will result in increased premiums.

Calculate the amount the insurance company will pay: Value of Property Amount of Insurance Policy Actual Fire Loss Amount Insurance Company will pay \ 70,000 \ 40,000 80\% Co-Ins \ 11,200 A \ 90,000 \ 50,000 80\% Co-Ins \ 36,000 B

Match the following terms with their definitions. -Indemnity

John Davis's store is worth $400,000 and is insured for $240,000. Assuming an 80% coinsurance clause and a fire that caused $100,000 of damage, what is the liability of the insurance company?

Using the tables in the handbook, calculate Joe Wheel's Auto premium: Class 17 operator Compulsory 10/20/5 Symbol 5 Age 4 Optional 100/300 bodily Collision $300 deductible Comprehensive $300 deductible Damage to someone else's property 25M Towing

Match the following terms with their definitions. -Endowment insurance

Premiums for straight-life insurance are higher than premiums for term insurance.

Whole Numbers: How to Dissect and Solve Word Problems

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Solving for the Unknown: a How-To Approach for Solving Equations

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Discounts: Trade and Cash

Markups and Markdowns: Perishables and Breakeven Analysis

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Promissory Notes, Simple Discount Notes, and the Discount Process

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How to Read, Analyze, and Interpret Financial Reports

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