NJ Property Casualty Insurance Exam (21)

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o $3,000 Gan Advanced Scenario 5: Retest Questions 11. If Helen chooses to itemize, which of the following is she not eligible to claim as a deduction Schedule A? a. $7,300 mortgage interest b. $150 Homeowner's Association fees c. $2,300 real estate tax d. $275 contribution to the Red Cross sa deduction on her Schedule

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QUESTION 10 Yousif has purchased insurance for his home with four different companies, Company A covers 3,797, Company B covers 3,796, Company C covers 3,934 and Company d covers 4,540. Assuming the insurers follow a pro rata liability method, how much will company B pay if a loss of 5,154 occurs?

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Answer only patrs D  Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

Which of the following items would not automatically be covered under an HO-3 form?   the insured’s driveaway, if damaged by falling object The insured’s pedigreed collie valued at $6000 or $7000 A lawnmower in the insured’s garage personal property of the insured’s daughter who is away from college

Tests - FINA22 Class Kapoor, Personal Finance M MHE Reader https player-ui.mheducation.com epub/sn_7cac#epul 12. Determining What Amount the Insurance Company will Pay for the Damages. Eric and Susan just purchased their first home, which cost $130,000. They purchased a homeowner's policy to insure the home for $120,000 and personal property for $75,000. They declined any coverage for additional living expenses. The deductible for the policy is $500. Soon after Eric and Susan moved into their new home, a strong windstorm caused damage to their roof. They reported the roof damage to be $17,000. While the roof was under repair, the couple had to live in a nearby hotel for three days. The hotel bill amounted to $320. Assuming the insurance company settles claims using the replacement value method, what amount will the insurance company pay for the damages to the roof?

As an insurance agent, use tables Table 19-6 and Table 19-7 to calculate the annual premium (in $) for the client. Name: Denner Territory Driver Class Bodily Injury Property Damage Model Class 2 2 100/300 50 C Vehicle Age Comprehensive Deductible Collision Deductible Rating Factor Annual Premium 4 $100 $250 none $

Module 5 - Practice QuestionMr. Jay Brown is 66 years of age and his 2020 income is made up of employmentincome of $75,800, contributed $6,500 to his RRSP. He also earned interestincome from Guaranteed Investment Certificate (GIC) of $3,700 during 2020 andreceived Old Age Security benefits of $7,400 (because of large business lossesduring the previous two years, no amount was withheld from the OAS payments).Mr. Brown and his family live in Toronto, Ontario. For 2020, Mr. Brown’semployer withheld maximum CPP ($2,898) and EI ($856) contributions. Otherinformation pertaining to 2020 is as follows:1. Mr. Brown’s spouse is 59 years old and qualifies for the disability tax credit.Her income for the year totaled $4,500.2. Mr. and Mrs. Brown have two daughters, Keith, aged 15 and Laura, aged17. Keith had income of $2,700 for the year while Laura had net income of$3,000. In September 2020, Laura began full time attendance at a Canadianuniversity. Mr. Brown paid her tuition fees of $6,000, of…

Problem 10-25 (LO. 2) For calendar year 2020, Jean was a self-employed consultant with no employees. She had $80,000 of net profit from consulting and paid $7,000 in medical insurance premiums on her policy covering 2020. How much of these premiums may Jean deduct as a deduction for AGI? As an itemized deduction? If an amount is zero, enter "0". Self-employed persons can deduct fill in the blank 1 % of their medical insurance premiums as a deduction for AGI in 2020. Thus, Jean may deduct $fill in the blank 2 as a deduction   AGI and she may deduct $fill in the blank 4 as an itemized deduction (subject to the AGI floor).

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o $275 Cash contributions to the Red Cross o $200 Fair market value of clothing in good condition donated to the Salvation Army (Helen purchased the clothing for o $7,300 Mortgage interest o $2,300 Real estate tax o $150 Homeowners association fees o $3,000 Gambling losses 12. What amount of gambling losses is Helen eligible to claim as a deduction on her Schedule A? a. $0 b. $1,000 $2,000 O d. $3,000

Use the following information to answer questions 29-31 Danielle has the following personal property and liability coverages in place. No other endorsements are in place. The liability limits meet the minimum requirements of the umbrella insurer. Homeowners 3 Policy Coverage A: $250,000 Coverage B: $25,000 Coverage C: $125,000 Coverage D: $75,000 Coverage E: $300,000 Coverage F: $1,000 Personal Auto Policy Coverage A: 250/500/50 Coverage B: $5,000 Coverage C: 100/300 Personal Umbrella Policy $1,000,000 limit $250 self-insured retention 29. Danielle is driving to the store and runs a stop sign, causing an accident. The other driver is awarded $300,000 in damages as a result of the accident. Covered (by any policy): Yes / No HO3 Amount: $ PAP Amount: $ Umbrella Amount: $ 30. Danielle is hosting a party at her house for her daughter's high school graduation. One of her daughter's friends in attendance slips on the freshly refinished wood floors and is severely injured. The friend sues and…

Optional. P Search vout References Mailings Review View Help Aav Aoミ、E、、三E4T AaBbCcDc AaBbCcDc AaBbC AaBbCcl AaB ン、A、三 三三加、、田 I Normal 1 No Spac. Heading 1 Heading 2 Title Paragraph Styles 4. Jeff, age 50, is thinking of purchasing a S100,000 permanent life insurance policy to fund a gift to his local hospital. He was recently treated there after an automobile accident. He does not expect the policy to be surrendered for a number of years and is concerned that inflation might erode the value of his gift. Which of the following products would best suit Jeff's needs? (A) A whole life participating policy with dividends used to reduce the annual premium. (B) A term to 100 life insurance policy. (C) A whole life participating policy with a paid-up additions dividend option. (D) A whole life non-participating policy.