GA PROPERTY & CASUALTY (21)

An attempt by a debtor to solve a financial problem through a consensual agreement with creditors outside of a court proceeding is a(n)   Multiple Choice Insolvency hearing Mediation Equity infusion Workout   An individual or group of individual professionals who assist management in the workout process is called   Multiple Choice Turnaround advisor Bankruptcy advisor Workout judge Credit counselor   If a person dies without a will, what happens to his/her property?   Multiple Choice The property escheats to the state where the decedent was domiciled The property passes according to the wishes of the decedent’s spouse or next of kin The property passes in accordance to the intestate statute of the decedent’s state of domicile The property passes to the decedent’s children or next of kin

A3 please help......

A3

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Bodily injury and property damage liability policies protect an insured for Loses for which the insured is legally liable Losses to the business property the insured owns Damage to the insured’s private property caused by a visitor The insured personal medical bills

an owner lists a property with a broker through an associate broker. which of the following would not terminate the agency relationship? The employing broker dies The property is destroyed by fire The associate broker dies The owner is declared mentally incompetent

A creditor must file a(n) 44,362 Multiple Choice O lawsuit against the debtor before a creditor can "attach" property. involuntary bankruptcy petition attachment order garnishment petition

Question Cómpletion If a borrower lives in a recourse state and defaults on a mortgage note that contains an exculpatory clause and the lender receives less than the amount owed on the mortgage when the property is sold, the lender will.. O file for bankruptcy protection seek the difference from the borrower's title insurance company O do nothing since the lender is limited to the proceeds from the sale of the property O take legal action against the borrower to recover the difference QUESTION 6 Suppose you sign up for an annuity in which you save $500 weekly for 35 years. The annuity promises you an annual interest rate of 3% compounded weekly. How much will the annuity be worth in 35 years? (note: there are 52 weeks in a year) $370,781.83 $30,231.04 $910,000 $1,609,214.57 QUESTION 7 Which of the following deed types protects the buyer from encumbrances that arose during the time at which the current grantor held title? O special warranty deed O general warranty deed quitclaim deed O…

Which asset of the insolvent is NOT excluded from insolvency proceedings? A. family home B. jewelry articles for personal use C. household furniture and utensils necessary for housekeeping d. None of the above

15 One of the following is not a transaction deemed sale and is therefore not subject to VAT.  Which is it?   Group of answer choices Distribution or transfer to creditors of goods or properties of a VAT-registered person in payment of debt. Transfer, use or consumption not in the ordinary course of business of goods or properties originally intended for sale or for use in the course of business. Consignment of goods if actual sale is not made within 30 days following the date such goods were consigned. Distribution or transfer to stockholders or investors of goods or properties as share in the profits of a VAT-registered person.

19. If an individual renders services to a creditor who in consideration thereof cancels the debt, the cancellation of indebtedness may,amount to a: a. Gift С. Donation inter vivos b. Capital contribution d. Payment of income CS Scanned with CamScanner

Losses due to destruction of personal property are covered by (choose the best answer) Personal insurance Liability insurance Property & casualty insurance Umbrella insurance

A taxpayer must report the full amount of gambling winnings on Schedule 1, line 8. How are gambling losses reported? Select one: a. On Schedule 1, line 22 Ob. On Schedule A, line 16, limited to gambling winnings included on Schedule 1 OC. Subtracted from gambling winnings before reporting on Schedule 1, line 8 Od. On Form 1040, line Ba as an adjustment to income

QUESTION 28The general deduction formula requires taxpayers to carry on a trade to be able to deduct expenses. Which one of the following scenarios would not constitute the carrying-on of a trade?(1) The taxpayer is an agent and manages properties and sells properties on behalf of clients and earns fees and commission.(2) The taxpayer carries on a business as a share dealer speculating on the JSE.(3) The taxpayer has a trademark and earns royalties by granting the right to use the trademark.(4) The taxpayer owns several investments in the form of properties and earns rental income.(5) The taxpayer buys shares in a private company and earns dividends from shares.

Eden Orchards, the insured under a policy with Farm Insurance LLC, files a claim for a covered loss. The parties cannot agree on the amount of the loss. Under an appraisal clause,   a.  the loss will be appraised to the difference between the disputed values.     b.  the dispute will be submitted to an impartial third party for resolution.     c.  an estimate by an impartial, qualified third party can be demanded.     d.  the loss will be shared proportionately by the insurer and the insured