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
The investment banker performs what three basic functions? A) underwriting, advising, and price-pegging B) underwriting, distributing, and regulating C) underwriting, distributing, and negotiating D) underwriting, distributing, and advising ANSWER D
Date: September 19th, 2020
Which of the following statements about mobile home insurance is (are) true? I. Coverage for the mobile home may be written on either a replacement cost basis or an actual cash value basis, depending on how much the mobile home has depreciated. II. An additional coverage pays, up to a specified dollar limit, for the […]
Date: September 19th, 2020
Which of the following statements about the eligibility requirements for insuring mobile homes by endorsing a homeowners policy is (are) true? I. The mobile home must be designed for year-round living. II. The mobile home must be located in a fenced area with security guards. A) I only B) II only C) both I and […]
Date: September 19th, 2020
The future value of an annuity due is greater than the future value of an otherwise identical ordinary annuity. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
If a firm were simply concerned with minimizing costs of incremental financing, then the straightforward choice would be: A) debt. B) new equity. C) retained earnings. D) half debt and half equity financing. ANSWER A
Date: September 19th, 2020
If managers are making decisions to maximize shareholder wealth, they are primarily making decisions that: A) maximize sales revenue. B) minimize risk. C) maximization of the market value of shareholders’ common stock. D) reduce the costs of borrowing. ANSWER C
Date: September 19th, 2020
Which of the following coverages are provided by an unendorsed ISO Dwelling Program form? I. Theft of personal property II. Named-perils coverage for personal property A) I only B) II only C) both I and II D) neither I nor II ANSWER Answer: B
Date: September 19th, 2020
Which of the following statements about the Personal Articles Floater is (are) true? I. It is designed to cover several classes of personal property. II. Coverage is written on an “open perils” (all-risks) basis. A) I only B) II only C) both I and II D) neither I nor II ANSWER Answer: C
Date: September 19th, 2020
