Question 15: If the Coverage A limit on an HO 3 is $200000 and the insured has a detached garage valued at $50000 what would they need to do? Question Value: 1 O Use the HO 04 48 endorsement to add $30000 to Coverage B O Use endorsement HO 04 48 to add $50000 to Coverage B O The garage is automatically covered for its full value under Coverage B O A separate policy must be written to cover the garage

Question 15: If the Coverage A limit on an HO 3 is $200000 and the insured has a detached garage valued at $50000 what would they need to do? Question Value: 1 O Use the HO 04 48 endorsement to add $30000 to Coverage B O Use endorsement HO 04 48 to add $50000 to Coverage B O The garage is automatically covered for its full value under Coverage B O A separate policy must be written to cover the garage

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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2. Al Qatryah Insurance Company SAOG in Oman has offered a wide selection of Life & General Insurance Products to satisfy its customers. The company provided the following information about a policy. It shows that the premium payment depends on many variables such as age, gender, face value of policy and frequency of premium payment. Straight-Life Female 10-Year Fixed Rate 20-Year Fixed Rate Female 1.17 1.23 1.41 2.33 Male Male Female Male Age 20 1.21 1.82 1.76 2.72 3.49 4.02 2.63 30 1.27 1.91 1.85 3.38 2.13 3.51 6.88 40 1.46 2.20 3.88 50 2.41 4.72 5.18 5.01 7.93 3.63 60 4.56 7.11 8.21 Percent of Annual Period Semiannually Quarterly Monthly Premium 51.00 26.00 8.75 Questions i) Assume you are a 20-year-old female and want to buy OMR 110,000face value scheme, what is the annual premium using a 20-year fixed rate scheme? ii) Assume your father who is 40 years old wants to buy OMR 110,000face value policy. He wants to pay premium semi-annually. How much will be the premium using 20- year…
12 Review the details of transaction for the purchase of a new primary residence and determine if the loan satisfies Fannie Mae guidelines? And why? notes: Closing Costs Prepaid Expenses Sales Price $ 160,000.00 $ 3,198.00 $3,050.00 Total $ 166,248.00 Mortgage Amount $ 152,000.00 $ 1,000.00 EMD Seller Pd Costs $6.400.00 Cash needed to close $6,848.00 Answer:
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A builder is offering $131,554 loans for his properties at 9 percent for 25 years. Monthly payments are based on current market rates of 9.5 percent and are to be fully amortized over 25 years. The property would normally sell for $140,000 without any special financing. Required: a. At what price should the builder sell the properties to earn, in effect, the market rate of interest on the loan? Assume that the buyer would have the loan for the entire term of 25 years. b. At what price should the builder sell the properties to earn, in effect, the market rate of interest on the loan if the property is resold after 10 years and the loan repaid? Complete this question by entering your answers in the tabs below. Required A Required B At what price should the builder sell the properties to earn, in effect, the market rate of interest on the loan? Assume that the buyer would have the loan for the entire term of 25 years. (Do not round intermediate calculations. Round your final answer to the…
Question 56 The probability that a 37-year-old white male will live another year is .99828. What premium would an insurance company charge to break even on a one-year $1 million term life insurance policy? Break-even $_______
A "short sale" of real estate is: Multiple Choice O a sale that closes in less than 30 days. the sale of a house by someone who is not the owner, it is a way to profit from an anticipated decline in real estate prices. a sale in which the proceeds from the sale are less than the balance owed on the loan secured by the property sold.
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Problem 12-7 Calculating the Amount of Life Insurance Needed Using the Easy Method [LO12-2] Suppose that yours is a typical family. Your annual income is $55,000. Using the easy method, what should be your need for life insurance? (Do not round intermediate calculations.) Life insurance need $ 26,950
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Problem 7-22 Adoption Expenses (LO 7.7) Carl and Jenny adopt a Korean orphan. The adoption takes 2 years and two trips to Korea and is finalized in 2021. They pay $7,000 in 2020 and $7,500 in 2021 for qualified adoption expenses. In 2021, Carl and Jenny have AGI of $150,000. If an amount is zero, enter "0". If required, carry any division out to four decimal places and round final answers to the nearest dollar. a. What is the adoption credit Carl and Jenny can claim in 2021? $ 13,810 b. How much credit could they claim if the adoption falls through and is never finalized? $4 c. How much credit could they claim if their AGI was $221,660? 8,797