Owners policy - Study guides, Class notes & Summaries

S recently received a $500,000 lump sum retirement buyout from her employer. She would like to buy an annuity that will immediately furnish her with a guaranteed income for life. What type of annuity is best suited for her situation? - ️️Single Premium. Immediate Annuities are purchased with a single lump sum payment and will start providing income payments within the first year, but usually starting 30 days from the purchase date. What type of group plan involves employees sharing th...

Arizona Life Insurance Exam Questions and Answers (Latest Update 2023) Verified Answers a whole life policy that provides a choice of dividend options include the following statement about dividends they accrue at a guaranteed rate they are deferred for one year they are not guaranteed they are guaranteed after the first year - Correct Answers they are not guaranteed When there is a named beneficiary on a life insurance policy, the death benefits 1. are directed to a trustee ...

Solution Manual For Corporate Finance 13th Edition By Stephen Ross Randolph Westerfield Jeffrey Jaffe. INTRODUCTION TO CORPORATE FINANCE SLIDES 1.1 Chapter 1: Introduction to Corporate Finance 1.2 Key Concepts and Skills 1.3 Chapter Outline 1.4 1.1 What Is Corporate Finance? 1.5 The Balance Sheet Model of the Firm 1.6 The Capital Budgeting Decision 1.7 The Capital Structure Decision 1.8 Short-Term Asset Management 1.9 The Financial Manager 1.10 Hypothetical Organization Chart 1.11 ...

Vandalism and malicious mischief losses are excluded under the Homeowners Policy when: a. During times of riot or civil disorder b. The property has been vacant for 60 days c. While the insured is on vacation away from the premises d. When any part of the dwelling is rented to others B. The property has been vacant for 60 days Explanation Since vacant property poses a high susceptibility of vandalism, the policy contains this limitation of vandalism coverage to protect the preferred Hom...

Insurance broker means a person who, for compensation and on behalf of another person, transacts insurance other than life with, but not on behalf of, an insurer. True or False? correct answer: False - An insurance broker is a specialist in insurance and risk management. Brokers act on behalf of their clients and provide advice in the interests of their clients. Transacting insurance includes: A. Execution of a contract of insurance B. All of the choices C. Solicitation D. Negotiation c...

Rules of Construction Help to identify and establish the intent of the parties to the contract Utmost good faith Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. Aleatory Contract A contract under which one party's performance is contingent on an uncertain event. property and casualty agent has the power to bind the insurer...

Business Owners Policy (BOP) Correct Answer A pre-packaged commercial package policy that provides PROPERTY and LIABILITY insurance to certain types of small businesses Eligibility Correct Answer More strict for BOP than CPP. Eligible businesses include certain wholesale, processing and service, restaurant, convenience store, and contracting risks. eligible risks may not exceed 25,000 square feet in total floor area or $3 million in annual gross sales at each location. Eligible Apartments ...

Community Association - Answer- Legal entity in which the owners enjoy the protection, enhancement, maintenance, and preservation of their homes and property Three defining characteristics of Community Association - Answer- Mandatory Membership, Mutually Binding Documents, and Lien-Based Assessments Mandatory Membership - Answer- Membership in the community association is mandatory and automatic for all owners Mutually Binding Documents - Answer- Certain association governing documents ...

Abend - correct answer -Abnormal end to a computer job; termination of a task prior to its completion because of an error condition that cannot be resolved by recovery facilities while the task is executing Acceptable use policy - correct answer -Establishes an agreement between users and enterprise and defines for all parties' the ranges of use that are approved before gaining access to network or internet Access control - correct answer -The processes, rules and deployment mechanisms th...

35,000 square feet - ANSWER What is the maximum physical size of a business covered by a BOP? $6 million - ANSWER What is the maximum annual gross sales of a business covered by a BOP? Utility services exclusion - ANSWER An exclusion that precludes coverage for utility service failure that occurs away from the insured premises. Power surges exclusion - ANSWER An exclusion that only allows coverage for power surges if the failure happens on or near the premises. It also allows coverage f...