Which of the following property is covered under the personal property coverage (Coverage C) of the Homeowners 3 policy? A) a pet dog owned by the named insured B) a bicycle owned by a foster child living with the named insured C) a motor vehicle owned by the named insured D) a stamp collection insured […]
Date: September 19th, 2020
Which of the following statements about coverage for loss of use (Coverage D) under the Homeowners 3 policy is true? A) If a covered loss makes the home unfit for living, the insurer pays additional living expenses the insured may incur as a result of the loss. B) The duration of payments for additional living […]
Date: September 19th, 2020
Which of the following statements about the additional coverages under Section I of the Homeowners 3 policy is true? A) There is coverage for the reasonable cost incurred to protect property from further damage after a covered loss occurs. B) There is unlimited coverage for furnishings of the landlord in an apartment on the premises […]
Date: September 19th, 2020
All of the following are additional coverages under Section I of the Homeowners 3 policy EXCEPT A) the reasonable expenses of removing debris after an insured loss. B) fire department service charges for which the insured is liable by contract or agreement. C) damage to trees and shrubs caused by a windstorm. D) losses incurred […]
Date: September 19th, 2020
The competitive bid purchase is largely confined to railroad, public utility, and municipal bond issues. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
Which of the following is a covered peril under the personal property coverage (Coverage C) of an unendorsed Homeowners 3 policy? A) earthquake B) nuclear radiation C) windstorm D) flood ANSWER Answer: C
Date: September 19th, 2020
The board of directors of Wireless, Inc is considering two compensation plans for the CEO of the company. The first would pay the CEO a salary of $250,000 for the upcoming year. The second would pay the CEO a salary of $100,000 and provide the CEO with a stock option to buy 100,000 shares of […]
Date: September 19th, 2020
When constructing pro forma balance sheets, ________ becomes the “plug” figure to make the balance sheet balance. A) new fixed assets required B) addition to retained earnings C) cash D) external funding required ANSWER D
Date: September 19th, 2020
All of the following measure liquidity EXCEPT A) inventory turnover. B) operating return on assets. C) current ratio. D) acid-test ratio. ANSWER B
Date: September 19th, 2020
Bill wants to buy a new boat in 7 years. He expects the new boat will cost $28,000. Bill has $18,000 in an investment account today. What rate of return must Bill earn on his investments to be able to buy the boat on time? What will be an ideal response? ANSWER 6.515% […]
Date: September 19th, 2020
