The personal umbrella policy covers some personal injuries. Which of the following is considered a personal injury? A) bodily injury B) property damage C) defamation of character D) liability arising from professional services ANSWER Answer: C
Date: September 19th, 2020
Asset allocation is not recommended by financial planners because mixing different types of assets, such as stocks with bonds, makes it more difficult to track performance and adjust portfolios to changing market conditions. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
William would like to insure his home. He does not want theft or personal liability coverage; however, he would like “open perils” (all-risks) coverage on the dwelling. William should purchase a A) Homeowners 3 Policy. B) Dwelling Property 1 Form. C) Dwelling Property 2 Form. D) Dwelling Property 3 Form. ANSWER Answer: D
Date: September 19th, 2020
A “Dutch auction” was used by Google to raise money in 2004. A Dutch auction involves A) hiring a Dutch firm to sell a company’s securities at auction. B) allowing investment banking firms to submit bids on how many shares they are willing to sell and at what price. C) allowing investors to submit bids […]
Date: September 19th, 2020
Which of the following statements about coverage under the federal flood insurance program is (are) true? I. Subsidized coverage is available for contents, but not for dwellings. II. A $10,000 deductible applies to each loss. A) I only B) II only C) both I and II D) neither I nor II ANSWER Answer: […]
Date: September 19th, 2020
Which of the following statements about title insurance is true? A) A premium must be paid annually to keep the policy in force. B) The policy term runs for 30 years or the length of the insured’s mortgage loan, whichever is shorter. C) The policy guarantees that the owner will keep possession of the property […]
Date: September 19th, 2020
Which of the following statements about the federal flood insurance program is true? A) Under the write-your-own program, each insurer services the policies it writes. B) The regular portion of the program does not allow the purchase of higher amounts of coverage than are available under the emergency portion of the program. C) No coverage […]
Date: September 19th, 2020
The basic purpose of FAIR plans is to provide A) property insurance to persons who cannot obtain it in normal markets. B) automobile insurance to persons who cannot obtain it in normal markets. C) health insurance to persons who cannot afford it in normal markets. D) workers compensation insurance to employers who do business in […]
Date: September 19th, 2020
A firm’s ending equity equals the firms beginning equity plus any change in retained earnings. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
Based on the information in Table 4-1, the acid-test ratio is A) 1.02. B) 1.71. C) 0.98. D) 1.67. ANSWER A
Date: September 19th, 2020
