Question 22Lara, owner of Huck's Oil Change Ltd, meets with a life insurance agent to discuss arenewal package for the group benefits plan offered to employees. Lara employs 20individuals, all of whom are covered under the group plan. The employee turnoverrate is 10%, and the insurer has rated tife group's claims experience credibility at20%.In establishing the group's premiums under the new plan, how much weight will theinsurer give to the standard manual rate for a comparable group?O a) 10%.O b) 20%.O) 80%.d) 90%.

Answered: Image /qna-images/answer/4ae5c2c8-99f7-46e9-9744-b69026132fd3.jpg

Answered: Question 22, Lara, owner of Huck's Oil…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Similar questions

N4 ZZZ Limited buys a $5 million parcel of 120 day Bank Accepted Bills on a 3.6% p.a. yield and sells them 30 days later on a yield of 3.25% p.a. Required: Calculate the following for the investment made by ZZZ limited: (a)the amount of interest earned; (b)the capital gain or loss; (c)the holding period yield.
1. Project Eastcoast Sdn. Bhd. is planning to buy an insurance plan to minimise the risk of losses. The insurance options are as below: Plan North i. South ii. West Project Eastcost Sdn. Bhd. historical losses incurred as below: Insurance Policy An insurance policy that provides RM5,000 of straight deductible attached to it with an annual policy limit of RM22,000. An insurance policy that provides RM22,000 of aggregate deductible attached to it with a coinsurance of 5 percent. Month of claim January April May August November December An insurance policy that required 15 percent coinsurance attached to it with no policy limit. Probability of losses 0.76 0.92 0.37 0.55 0.83 0.44 As a risk management consultant, you are required to advise Project Eastcoast Sdn. Bhd. on the preferable insurance plan. Amount of Possible Loss (RM) 8,200 6,500 10,500 9,600 1,700 5,800 Determine the amount retained by Project Eastcoast Sdn. Bhd. and the amount paid by insurer for Plan North, Plan South and…
The product team of KAF Takaful Berhad is proposing to introduce a service-basedP2P micro takaful plan for a $10,000 death benefit (khairat). Each participant whosubscribes to this plan will pay an advance contribution of which 20% will be paidto KAF as an administration fee. The remaining amount will then be channelled tothe participant’s mutual account. If any death occurs the khairat benefit will be paidequally by existing participants through deductions from their mutual account. Howwould you appraise this proposal from a Shariah point of view?
Question 2 A payment by a corporation to its shareholders is called a: par value. coupon. dividend. stock split.
Ian won the lottery; however, the lottery company gave her the following two options to receive her prize money: ● Option (a): $8,000 in four months and $18,000 in nine months. • Option (b): $3,000 immediately and $24,000 in twelve months. Assume that money earns 4.75% p.a. simple interest and use today as the focal date. a. What was the equivalent value of the payments under option (a) at the focal date? Round to the nearest cent b. What was the equivalent value of the payments under option (b) at the focal date? Round to the nearest cent c. Which option would be economically better for Ian and by how much? O a. Option (a) O b. Option (b) is better by Round to the nearest cent SAVE PROG
5. Martina's employer offers anannual pension benefit calculated by multiplying 2.35% of the career average salary times the number of years employed. Here are Martina's annual salaries over the last 24 years of employment. 28,800 29,300 30,250 31,000 35,500 42,000 45,000 50,000 28,800 29,900 30,350 35,000 35,700 43,000 48,000 52,000 29,210 29,900 30,450 35,000 38,000 43,900 48,800 52,000 a. What is Martina's career average salary? b. What is Martina's annual pension under this plan? c. What percentage of her final annual salary will her annual retirement salary be to the nearest percent? d. What is Martina's monthly pension benefit to the nearest penny?
Steven and Donna have been married for 35 years. Both are in great health, but they feel it is time that they start planning for their future health needs. Steven is 60 years old, and Donna is 61 years old. They have been approached by a long-term care insurance salesperson who is offering the following insurance product: . . . . Annual maximum benefit: $67,200 or 80% of annual cost, whichever is less. Daily maximum benefit: $187 or 80% of daily cost, whichever is less. Billing cycle: 360 days. Premium for policy with 180-day elimination period: $3,248. Premium for policy with 90-day elimination period: $3,696. Premium for policy with 30-day elimination period: $4,256. Steven and Donna are interested in possibly purchasing one of these policies. Use the following information to help them analyze which policy may be the best alternative, The current annual cost of a good nursing care facility in their area is $91,440, They have $28,000 saved in a money market savings account, $11,200 in…
Illu.16 : On 31st Lecember, 2003 Andhra Traders Lid, shored in thei accouts the following balances : Rs. 1.50.000 Debenture Redemption Fund Debenture Redemption Fund Investments 1.50,000 5% Debentures 150,000 On 1st March, 2004, the Company sold the investments for Rs.150,500 and the debentures were paid off. Prepare (a) Debenture A/e (b) Debenture Redemption Fud a/c (c) Debenture Redemption Fund Investment a/e. CS Scanned with CamScanner
The following information was taken from the financial records of Sodigaz, Inc. Year 2 Year 1 Sales $285,000 $278,500 Accounts receivable: Beginning of year 29,600 18,900 End of year 41,000 29,600 The number of days' sales in receivable for Year 2 is a. 31.8 b. 38.8 c. 24.8 d. 45.2
You drive a 4 year old truck valued at $15,000. You have a $70,000 personal automobile policy with $12,000 per-person medical payments coverage and both collision ($500 deductible) and comprehensive coverage. Your neighbor drives a five-year old SUV valued at $10,000. Your neighbor has a 25/50/15 automobile policy with $15,000 in medical payments coverage and both collision ($200 deductible) Early one morning your neighbor was driving down the street while you were driving the opposite way to drop your friend off at her house and your neighbor swerved into your lane and struck your vehicle. Below you will find the damage caused by the accident: Your Bodily Injury: $7,000 Your Friend’s Bodily Injury: $25,000 Your Car: $8,500 Neighbor’s Bodily Injury: $3,000 Neighbors Car: $9,000 Using the information above, find the following: a) How much will your policy pay for your bodily injury?
As given via the Internet, auto insurance quotes gathered online could vary from $947 to $1,558. A class 18 operator carries compulsory 10/20/5 insurance. He has the following optional coverage: bodily injury, 500/1,000; property damage, 50M; and collision, $200 deductible. His car is 1 year old, and the symbol of the car is 8. He has comprehensive insurance with a $200 deductible. (Use Tables 20.5, 20.6, 20.7, 20.8 and 20.9.) What is the total annual premium? Total annual premium

Recommended textbooks for you

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability (10th Edition)

Probability

ISBN:

9780134753119

Author:

Sheldon Ross

Publisher:

PEARSON

A First Course in Probability

Probability

ISBN:

9780321794772

Author:

Sheldon Ross

Publisher:

PEARSON

SEE MORE TEXTBOOKS