Finance

Which of the following statements is (are) true regarding renters insu

Which of the following statements is (are) true regarding renters insurance? I. Renters insurance is needed if you rent a house, but is not needed if you rent an apartment. II. The ISO renter’s policy provides open perils (“all-risks”) coverage on the insured’s personal property. A) I only B) II only C) both I and […]

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Date: September 19th, 2020

Which of the following statements about eligibility requirements for h

Which of the following statements about eligibility requirements for homeowners insurance is (are) true? I. A contract can be written on a twenty-unit apartment complex as long as the tenants are families. II. Separate forms are available for renters and condominium owners. A) I only B) II only C) both I and II D) neither […]

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Date: September 19th, 2020

Ben lives in a state that has a no-fault auto insurance law. Another m

Ben lives in a state that has a no-fault auto insurance law. Another motorist failed to yield the right of way, and hit his car. Ben filed a claim with his own insurer. He also contacted a lawyer to discuss suing the other driver. The lawyer told Ben that while lawsuits resulting from auto accidents […]

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Date: September 19th, 2020

Your parents are complaining about the price of items today compared t

Your parents are complaining about the price of items today compared to what they cost years ago. If an automobile that cost $12,000 in 1980 costs $40,000 in 2010, calculate the annual growth rate in the automobile’s price. What will be an ideal response?     ANSWER 4.26%, based on PV = $12,000; FV = […]

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Date: September 19th, 2020

Which of the following equations represents a simple and effective way

Which of the following equations represents a simple and effective way to think about anticipated external funding? A) External funds required = assets – liabilities – equity B) External funds required = assets + liabilities – equity C) External funds required = assets + liabilities + equity D) External funds required = assets – liabilities […]

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Date: September 19th, 2020

Which of the following statements about the Homeowners 6 (unit-owners

Which of the following statements about the Homeowners 6 (unit-owners form) policy is true? A) It includes personal liability coverage. B) It covers personal property on an open-perils basis. C) It covers the dwelling on an open-perils basis. D) It is designed for tenants who rent an apartment or a home.     ANSWER Answer: […]

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Date: September 19th, 2020

Which of the following transactions will increase a corporation’s oper

Which of the following transactions will increase a corporation’s operating return on assets? A) sell 10-year bonds and use the money to pay off current liabilities B) negotiate a new contract that lowers raw material costs by 10% C) sell stock and use the money to pay off some long-term debt D) increase sales by […]

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Date: September 19th, 2020