Q: Bob, age 47, has worked for XYZ Company the past
Bob, age 47, has worked for XYZ Company the past 12 years. XYZ Company has lost a major contract and must begin downsizing immediately. Bob was laid off yesterday. What should Bob do first? a. File fo...
See AnswerQ: Conditions that increase either the frequency or severity of loss are called
Conditions that increase either the frequency or severity of loss are called a. subrogation b. risks c. hazards d. perils e. extenuating circumstances
See AnswerQ: A client recently purchased a new home from a builder for $
A client recently purchased a new home from a builder for $150,000, including the lot valued at $40,000. How much insurance would you recommend that your client purchase to cover full replacement of t...
See AnswerQ: A successful architect wants to purchase disability income insurance. She is
A successful architect wants to purchase disability income insurance. She is concerned about becoming totally disabled, but also about a reduction in income if she is obliged to reduce her workload be...
See AnswerQ: Terry Underwood purchased a 15-year-old compact car with
Terry Underwood purchased a 15-year-old compact car with 10,000 miles for his teenage son who recently received his license. Which of the following auto insurance coverages should be included in the p...
See AnswerQ: Typically, when group long-term disability income insurance premiums are
Typically, when group long-term disability income insurance premiums are paid by a C corporation, all disability benefit amounts received by an employee are a. not includable in the income of the empl...
See AnswerQ: Under the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985
Under the Consolidated Omnibus Budget Reconciliation Act (COBRA) of 1985, an employer is required to extend medical plan coverage to eligible members of the employee’s family if the employee 1. dies....
See AnswerQ: Ginny is a sole proprietor. She wants to provide 60 percent
Ginny is a sole proprietor. She wants to provide 60 percent of salary disability coverage to Joanna, her employee who is in a 35 percent combined tax bracket. Joanna’s W-2 wages are $40,000 and Ginny’...
See AnswerQ: An HO-3 policy (Special form—“All risks of
An HO-3 policy (Special form—“All risks of physical loss” except those specifically excluded) with no endorsements excludes which one of the following perils? a. flood b. fire c. collapse d. weight of...
See AnswerQ: John is considering buying a new car for $15,000
John is considering buying a new car for $15,000 if purchased today. He also could wait to purchase the vehicle three years from now for $18,000. If John can invest in the capital markets and earn a 1...
See Answer
