A compound annuity involves depositing or investing a single sum of money and allowing it to compound for a certain number of years. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
Which of the following statements about types of property covered under the Personal Articles Floater is true? A) Golfer’s equipment is covered only in the United States. B) Furs are covered on a blanket basis without the necessity to schedule individual items. C) A higher premium must be paid to insure musical instruments if they […]
Date: September 19th, 2020
All of the following are considered floods under the federal flood insurance program EXCEPT A) the overflow of tidal waters. B) the accumulation of surface water after a heavy rain. C) a mudslide caused by an accumulation of water after a heavy rain. D) the discharge of water from a home appliance, such as a […]
Date: September 19th, 2020
Which of the following statements about various coverages under a Personal Articles Floater is (are) true? I. Each item of jewelry is described and is insured for a specified amount. II. Stamp and coin collections can be insured on a blanket basis. A) I only B) II only C) both I and II D) neither […]
Date: September 19th, 2020
Which of the following is an example of an inflexible expense? A) Mortgage payments B) Entertainment C) Home maintenance D) Newspapers and magazines ANSWER A
Date: September 19th, 2020
Jan showed the following financial items at the ends of 2007 and 2085: 2007 2008 Checking account balance 1,300 1,200 Credit card balances due 700 500 Auto loan ($900 due within one year) 2,700 3,600 Automobile 7,000 8,000 Jewelry 400 300 Stamp collection 1,200 1,000 Jan’s net worth changed in 2008 by A) + $100. […]
Date: September 19th, 2020
Dissavings can A) decrease assets and net worth. B) decrease both assets and liabilities. C) decrease net worth only. D) decrease assets only or liabilities only. ANSWER A
Date: September 19th, 2020
Which of the following statements about federal flood insurance is true? A) It is available even if property has been previously flooded. B) It is unavailable in high-risk flood areas. C) It is available only for residences, not for businesses. D) Waiting periods are not used in the federal flood insurance program. ANSWER […]
Date: September 19th, 2020
All of the following statements about yacht insurance are true EXCEPT A) Property damage coverage includes damage from insects, weathering, and wear and tear. B) Liability coverage includes the cost of raising, removing, or destroying a sunken or wrecked yacht. C) Coverage can be added for maritime workers covered by the United States Longshoremen and […]
Date: September 19th, 2020
In relation to the balance sheet, an income statement shows A) net worth, not the period’s savings or dissavings. B) the period’s savings or dissavings, not net worth. C) activities at a point in time, not over a period of time. D) financial position, not financial performance. ANSWER B
Date: September 19th, 2020
