Which of the following is NOT a business of life/non-life insurance firm? a. Property/casualty insurance  b. Deposit Insurance c. Automobile insurance d. Whole life insurance e. Death insurance  f.House insurance       a     b     c     d     e     f     x

Q: Is self-insurance the same as going without insurance? Why or why not?

A: The advantages of being self-insured area unit value savings and management of the insurance…

Q: When a life insurance policy lapses, it: a. benefits the insured b. benefits neither the insurer nor…

A: When insured person fails to pay the premium on insurance than it is said that policy has lapsed and…

Q: Describe a private insurance. what is it? Discuss the primary strengths and advantages, and…

A: Private Insurance means an insurance plan which is not operated by the government. It comes under…

Q: The type of account and normal balance of prepaid insurance would be

A: An asset is a resource controlled by an entity from which future economic benefits flow to the…

Q: 6) Name and define the three parts of an insurance calculation charges?

A: Insurance is a contract, represented by a policy, in which a person or entity receives financial…

Q: What is the role of Insurance company?

A: Answer no 3. Insurance companies are a part of financial system and considered as a safeguard the…

Q: beneficiary of a life insurance policy is

A: Beneficiary of a life insurance policy is the person who receives money from the insurance company…

Q: S1: It is more advantageous and beneficial to the insured if there are more riders included in the…

A: Rider in insurance industry is an additional benefit given to the insured for the enhancement of…

Q: Explain the differences between actual cash value (ACV) and replacement cost for homeowner’s…

A: The difference between actual cash value coverage and replacement cost coverage is the depreciation.…

Q: How is the account Prepaid Insurance classified and on which financial statement should it be…

A: Prepaid insurance is the portion of an insurance premium that has been paid in advance and has not…

Q: 44. Which statement correctly identifies the loan type with its function? O (a) FHA guarantees loans…

A: A loan is defined as the financial term, where the funds or money is given to some other party in…

Q: Can third-party insurance be used across Canada?

A: Third-party insurance is a form of liability which is beared by the person who is purchasing the…

Q: Profits of the insurance business are shared with Only with profit policy holders Only life…

A: Lets start with some understanding of with profit policy holder and without profit policy holders.…

Q: The promises of the insurer are found in the insurance policy. True False

A: True. The insurance policy contains the terms, conditions, and promises made by the insurer to the…

Q: If a lending institution stipulates that a borrower must maintain an adequate insurance policy, this…

A: A loan is a type of debt that a person or another entity assumes. The lender, which is often a…

Q: When planning life insurance coverage, you should differentiate between ongoing expenses and…

A: The question is based on the concept used in planning life insurance coverage, Life insurance policy…

Q: Which one (1) of the following conditions affects the amount of settlement of an insured loss? OA)…

A: As per Bartleby guidelines, only one question can be solved at a time. Please reupload other…

Q: Explain the difference between commutative contract and non-commutative contract. Why Insurance is…

A: A commutative contract is a type of agreement between two parties where the exchange of goods,…

Q: How do insurance companies determine how much you should pay for your insurance coverage?

A: The amount of money paid for an insurance policy is termed as insurance premium. The premium is paid…

Q: We said in our Risk Management and Insurance Planning course that Traditional/Non-Guaranteed Life…

A: Risk Management and Insurance Planning courses often delve into the intricate world of life…

Q: ADAM COMPANY HAS AN OLD MACHINE THAT COST WHEN PURCHASED $150000, THE FIRM DEPRECIATION METHOD IS…

A: Hi There, thanks for posting the question. But as per Q&A guidelines, we must answer the first…

Q: Which of the following is the main objective of P2P insurance   O a. Less Fraudulent Claims   O…

A: The acronym P2P insurance stands for peer to peer insurance. It is formed by a group of people who…

Q: The least expensive form of whole life insurance protection is:   A. limited payment. B. term. C.…

A: Whole life insurance or straight life insurance protects the life of the covered. Both life…

Q: What is private mortgage insurance?  How does it work to protect a lender from risk?   What are the…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which type of life insurance allows for the owner to choose their investment accounts? Term life…

A: Life insurance is the contract between the policyholder and insurance company where the insurance…

Q: Discuss mortgage life insurance vs life insurance

A: Insurance - Insurance are the facility provided by the insurance company to secure the financial…

Q: Assets ($)   2019 2018 2017 Cash on Hand & at Banks 1844388 2907252 3696201 Accounts Receivable Net…

A: 2018 2019 Times interest earned EBIT EBIT   Interest expense Interest expense   -41,69,203…

Q: 2. What are the major factors involved in determining how much life insurance coverage a person or…

A: Life insurance is a contract in which an insurance company commits to pay a set sum following the…

Q: The document a lender gives a borrower detailing the actual costs of a loan is called     a…

A: A truth in lending disclosure is an agreement where there are some important disclosure made by the…

Q: What is the consideration for the insurer in an insurance contract?

A: Contract:   Contract is an agreement among two parties or more parties which includes enforceable…

Q: Insurance producers who must maintain Premium Fund Trust Accounts (PFTAS) may withdraw funds from…

A: The withdrawal from premium fund trust accounts are permitted for following purposes 1) As payment…

Q: A(n) _________ is a lender, seller, or any other person in whose favor there is a security interest.…

A: Following are the definitions:   Unsecured Creditor: A creditor not having the benefit of security…

Q: Loans are available from term life insurance policies.   a.   True   b.   False

A: Policy loans are not available from term life insurance policies. Because there is no cash value to…

Q: dissimilar to the other three options? d. Motor insurance b. Personal property insurance С. Life…

A: The answer for the multiple choice question and relevant explanation are presented hereunder :

Q: Which principles ensures that an insured does not profit by insuring with multiple insurers?

A: The Principles of Contribution ensures that an insurance that an insured does not profit by insuring…

Q: A promotional item offered to buyers of specific products is called ________. Group of answer…

A: The question is asking for the term used to describe a promotional item that is offered to buyers…

Q: TRUE OR FALSE 1. PFRS 4 SUPERSEDES PFRS 17 2.INSURANCE RISK WILL BE DEEMED SIGNIFICANTLY ONLY IF…

A: PFRS refers to the Philippine Financial Reporting Standards which are used by the accountants for…

Q: Which one of the following is a special type of liability? a. Accrued expenses b. Salaries payable…

A: Accrued expense: These are those expenses which due but not yet paid.This is short term liability…

Q: O Liability Insurance Expense.

A: Sud account is smaller account under a larger account . It is uesful to track different activites…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.