A small insurance company is known for providing automobile insurance but also provides homeowner's insurance and life insurance. Jocelyn is one of the agents for the company. She reviews the data for its customers who have automobile insurance and whether they also have homeowner's insurance and life insurance with the company. The results of the data are shown in the accompanying table.   Has Life Insurance Does Not Have Life Insurance Total Has Homeowner's Insurance 796796 109109 905905 Does Not Have Homeowner's Insurance 154154 698698 852852 Total 950950 807807 1,757 Jocelyn says that there is no association between whether an automobile insurance customer has homeowner's insurance or life insurance with the company. Determine whether Jocelyn is correct and, if not, correct her statement.

Q: What does the Affordable Care Act do? O requires all businesses to provide health insurance to their…

A: Affordable Care Act (ACA) is the comprehensive health care reform signed by Barrack Obama in March…

Q: Under the liability portion of a personal Auto policy, all of the following people are considered…

A: Auto or motor insurance is the insurance that is taken by an individual on the vehicle that is owned…

Q: Jaafar owns an upscale fitness club in Jeddah. He wants to be protected if a customer is injured due…

A: The money paid in exchange for indemnification is known as a premium. Insurance is the protection…

Q: Ashvinbhai

A: Certainly! Let's break down the explanation in detail:1. **Impact on Revenues:**  - The housekeeping…

Q: If Ronald selects the POS plan, what will his annual medical costs be? (Do not round intermediate…

A: To calculate Ronald's annual medical costs under the POS plan, we need to consider the monthly…

Q: A broker with a license in inactive status is permitted to do which of the following? a. Refer…

A: Brokers in real estate business have important roles to play but brokers have to follow rules and…

Q: I:8-52. Business Bad Debt.  Elaine is a physican who uses the cash method of accounting for rax…

A: The business entity makes sales on credit to provide short-term finance to their trustful customers…

Q: What does COBRA status allow you to do? O apply for health insurance as an individual O add more…

A: COBRA stands for Consolidated Omnibus Budget Reconciliation Act.  is a health insurance program that…

Q: Johnson has a life insurance policy, a medical insurance policy, a fire insurance policy and a motor…

A: An insurance contract is an agreement between two parties where one party promises to indemnify the…

Q: Classify the following organization’s as professional service firms, mass service entities or…

A: Classifying organizations into different service categories is essential for understanding their…

Q: Vijay

A: To calculate Ronald's annual medical costs if he enrolls in the Blue Cross or Blue Shield plan, we…

Q: 40. Which one of the following is not an appropriate way to obtain property and/or liability…

A: Liability insurance is a crucial component of risk management that provides financial protection to…

Q: Todd is driving his SUV and Susan is a passenger. They are heading downtown for dinner. Todd’s PAP…

A: The driver and the passenger, both have a  PAP policy. In case of a claim, we need to figure out…

Q: on is a policy that provides benefits if Sue is unable to perform the duties required by her regular…

A: Disability insurance works in the same way that paycheck insurance does. Disability insurance may…

Q: Jack operates a large home repair business as a sole proprietorship. Besides providing services,…

A: Ans. Accrual method of accounting follows matching principle. It states that the revenue and…

Q: Required information [The following information applies to the questions displayed below.] Simpson,…

A: Any costs incurred in the prevention or treatment of injury or disease are referred to as medical…

Q: Which of the following people is to have the HIGHEST auto insurance premium? O Patrick: 17 years old…

A: Auto insurance premium: Factors that are likely to impact auto insurance  premium: Individuals under…

Q: Yousif has purchased insurance for his home with four different companies, Company A covers 4,706,…

A: Note: Loss amount provided is 7.554. However, I have done the calculations for both 7.554 and 7,554.…

Q: Which one of the following child or dependent care expenses qualifies as an employment-related…

A: Qualified deductions are the eligible deductions which are listed by the taxation authorities. These…

Q: According to Noble INC's balance sheet as of Dec. 2021, the company has $689,000 in Current Assets…

A: Current Assets = $689,000Current Liabilities = $647,000Quick Ratio = 0.8

Q: Suppose you have $5,000 as a gift from your parents just after they kicked you out of the house. You…

A: Assets owned : Collection of world War 1 badges Automobile 5000 cash   Work in a factory where work…

Q: Danielle has the following personal property and liability coverages in place. No other endorsements…

A: Coverage A: This covers the dwelling. Since the accident is related to a car, it doesn't fall under…

Q: A couple applied for a loan to finance the purchase of a new home. What federal act was created to…

A: Introduction:- A loan is the primary option through which one or more individuals, institutions, or…

Q: Janice Morgan, age 24, is single and has no dependents. Janice works as an employee from Worldwide…

A: Income tax:   Tax return is a form for filing the income tax return with a tax authority. The tax…

Q: Choose the response that accurately completes the following sentence. Člaiming the Child and…

A: One of the qualifications to the child dependent care credit is: In the case of married taxpayers,…

Q: 110

A: The objective of the question is to understand the tax implications of a business overhead insurance…

Q: MANAGEMENT OF TECHNOLOGY Project Selection Based on Economic Analysis 0.1 = MARR' Technology "A"…

A:

Q: Simpson, age 45, is a single individual who is employed full time by Duff Corporation. This year…

A: To calculate the amount of medical expenses that will be included in Simpson's itemized deductions,…

Q: 77

A: The first part of the question is asking us to determine the most likely definition of disability…

Q: A friend, explaining his position with respect to liability insurance, states, “I don’t feel I need…

A: The concept of liability insurance refers to an insurance plan that protects an insured party from…

Q: Required: Prepare the cost reconciliation portion of the Initial Review Department's production…

A: The cost recognized is the sum of the total cost of the finished goods and the cost of the work in…

Q: a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions…

A: A medical expense refers to the costs incurred for healthcare services, treatments, procedures,…

Q: Makiko Iwanami, a student from Osaka, Japan, is in one of your classes. She is considering the…

A: Here's a detailed calculation for better understanding. 1. Understanding Liability Insurance in the…

Q: As given via the Internet, auto insurance quotes gathered online could vary from $947 to $1,558. A…

A: Given that the Internet, auto insurance quotes gathered online could vary from $947 to $1,558. A…

Q: If you are at fault in an auto accident and carry an auto-liability-insurance requirement of…

A: There are three components of liability auto insurance. The three components consist of bodily…

Q: Required: Prepare the cost reconciliation portion of the Initial Review Department's production…

A: Introduction:- The cost accounted for is the aggregation of total finished goods and the cost of…

Q: For purposes of the Child and Dependent Care Credit, all the following are qualified expenses except…

A: For qualified taxpayers who incur costs for the care of qualifying dependents so they may work or…

Q: 44

A: The objective of the first question is to understand why an insurance agent would want to prepare a…

Q: Ronald started his new job as a comrolier with Aerosystems today Carole, the employee benefes clerk,…

A: The objective of the question is to calculate the annual medical costs that Ronald would incur if he…

Q: I'm working on a project in accounting..I'm trying to figure out which expenses are considered…

A: Deductible Medical Expenses = Total Medical Expenses - Reimbursements from Insurance company - 7.5%…

Q: true or false single persons living alone usually have little or no need for life insurance

A: False.Single persons living alone may still have a need for life insurance depending on their…

Q: 2. Your dad applied for a term life insurance (provides the insured person with a coverage for a…

A: The future value of an annuity is a method of determining how much money a series of payments will…

Property Insurance

Property insurance protects property from unforeseeable loss or damage and covers property owners' liability. Property insurance provides financial compensation to the property owner or renter in the event of damage or theft, as well as to someone other than the owner or renter if that person is injured on the property. Property insurance covers all risks of damage caused by theft, fire, flood, cyclones, lighting, and natural calamities, among other things. The primary goal of property insurance is to require the property owner to cover the loss. A monthly premium is paid to the insurance company, and in exchange, the insurance company pays for damage based on the agreement stated in the policy. Property insurance protects assets such as a vehicle, auto, car, rental home, house, and valuable property.