33) When a policy matures on the death of the insured , it is called as
Q: J requests insurance on a neighbor's home in his own name. The insurance producer explains that such…
A: Since you have posted multiple questions, as per answering guidelines we shall be solving first…
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: What is the difference between insurance companies and pension funds?
A: Insurance and pensions funds are two quite different types of institutions.
Q: are, in essence, an insurance contract against the default of one or more borrowers.
A: A credit default swap (CDS) is a financial derivative or contract that allows an investor to "swap"…
Q: 15. Which of the following does not belong to the main products of life insurance? * O A. Endowment…
A: Insurance is a financial mechanism that protects an insured asset from any type of risk. There are…
Q: Statement 1: If an insured outlived his policy and received from the insurance company an amount…
A: Here discuss about the tax burden which are incurred in the insurance policy after the outlive of…
Q: Why didn’t the FASB cover both types of postretirementbenefits—pensions and healthcare—in the…
A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…
Q: How does Life and Non Life Insurance can save or protect the assets of its policy holders? Cite at…
A: Life Insurance and Non-Life Insurance are the policies provided to the policyholders for protecting…
Q: All of the following are reasons for a primary insurer to use reinsurance EXCEPT O to increase the…
A: Reinsurance is nothing but an insurance policy taken by an insurance company from another insurance…
Q: The contract between insured and insurer is O a. Coverage O b. Face value Oc. Policy O d. Premium
A: Insurance means where insurance company agree to pay the specified amount to insured person in case…
Q: What is the role of an actuary relative to pension plans?What are actuarial assumptions?
A: An actuarial valuation is a kind of evaluation and appraisal of the assets and liabilities of…
Q: For the following definitions, indicate the type of trust being described by selecting the correct…
A: Blind Trust Life Insurance Trust Living (revocable) Trust Trust for minors
Q: A policy which runs for a fixed period or up to a particular age of the insured is called_
A: Insurance business is a type of business in which one company provides assurance to another company…
Q: QUESTION 14 What information is contained in the insuring agreement of an insurance policy? O a…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Were you correct that the pension liability is not reported in the balance sheet? What is the…
A: Pension refers to the accumulated amount of money that is added during the employment period of an…
Q: in insurance terminologies this means that a life insurance policy has been paid and active?
A: In insurance terminology premium means that a life insurance policy has been paid and active.
Q: The policy holder who receives the coverage is called ________________. a. Premium b. Face value c.…
A: There are various terminology used in insurance business
Q: You are not required to monitor the investments held through your spouse's pension plan if those…
A: Pension plan is the plan which a person takes so that their old age life will be comfortable in…
Q: 17. The insurer will issue to the insured before completion of policy Form. *
A: Cover Note A cover note is a temporary certificate of insurance issued by the Insurer before the…
Q: 11. Which of the following is NOT the features of investment-linked insurance? O A. The insured can…
A: A life insurance plan that combines investment and protection is referred to as an investment-linked…
Q: risk" factor
A: Risk is a term that shows the possibility of injury or loss to the health, business, vehicle, etc.…
Q: 21. What is the form that filled out by insured if a loss is suffered? *
A: Takaful is a sort of Islamic insurance in which members combine their funds to protect one another…
Q: After the expiry of the policy period On the death of the insured or on the expiry of policy period…
A: Insurance means where insurance company agree to pay the specified amount to insured person in case…
Q: The policy holder who receives the coverage is called O a. Premium O b. Insured O. Face value O d.…
A: Insurance is a term used for the security provided in monetary terms by an insurance company to a…
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: Which of the following statements is correct about perils in property insurance policies?
A: Insurance is a contract by which the insured party is protected against losses by the Insurer in…
Q: b. How does each component of pension expense affect pension expense during the period (increase,…
A: b) The components of pension expense are:- i. Service Cost - The increase in the projected pension…
Q: Why would an insured inflate claims and who are the ones to suffer for it?
A: Insurance can be defined as the contract that is signed by an insurer indemnifies another person…
Q: An insurance refers to a signed agreement between the insured and the insurer. O a. Certificate O b.…
A: Insurance policies are beneficial to people as it provides cover against uncertainties, significant…
Q: Gains and losses can occur with pension plans when: A) Either the PBO or the return…
A: ABO or Accumulated Benefit Obligation is an indicator of a company's pension liability at a given…
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: 5. Which of the following actions showcases the principle of "uberrima fides"? O A. Lying about…
A: Uberrima fides is a Latin word which means "utmost good faith".
Q: Policy reserves for life insurers are the loss reserves equivalent of P&C insurers. True False
A: The question is related to Reserve in an insurance policy. Policy reserve in life insurance is a…
Q: what underwriting risk. what are two risks faced by insurance companies?
A: The underwriting risk is the risk which is borne by the underwriter due to the inaccurate…
Q: The _______________ problem is when customers who are most likely to have a claim against an…
A: In a business, an adverse selection occurs where the knowledge distribution between the buyer and…
Q: When it comes to pension plans and other postretirement benefit schemes, what assumptions are made…
A: The answer
Q: QUESTION 1 Explain the four legal principles associated with insurance contracts in detail,…
A: Insurance: It is a contract between two parties under which one party takes the responsibility to…
Q: 19. is the document that acknowledge the insured legally entitled to receive the payment from the…
A: Insurance is a financial mechanism that protects an insured asset from various risks. There are many…
Q: (Based on Appendix 12A) Whole-life insurance policies typically can be surrendered while the insured…
A: Cash surrender value: Companies purchase whole-life insurance policies on the lives of the key…
Q: One of the purposes that deductible are used in insurance policies is to O eliminate coverage for…
A: In insurance, deductibles are expenses that a person has to bear by him/herself before the benefits…
Q: Which of the following items is required by the Life Insurance and Annuity Replacement Rule? A. A…
A: The answer is stated below:
Q: Which of the following is correct about the effect of a deductible with respect to the price of an…
A: Insurance is an agreement or a contract between two parties. An insurance contract states that one…
Q: 14 Risk related to counterparty failure to meet their obligation based on the initially agreed terms…
A: Counterparty risk is the possibility or likelihood that one of the parties to a transaction could…
Q: he contract between insured and insurer is ______________. a. Coverage b. Premium c. Policy d. Face…
A: Insurance means where insurance company agree to pay the specified amount to insured person in case…
Q: Which of the following is an arrangement by which one party promises to pay a sum of money to…
A: Options a,b and d are not correct. This is because investments are amount deposited in different…
Q: A covered person obtained an fixed return life insurance policy with an SEC restricted entity before…
A: Life Insurance policy A contract is agreed between the policyholder and the insurance company in…
Step by step
Solved in 2 steps
- Account for all the prospective losses but leave aside all the prospective profits. This is as per a. Materiality convention b. Timeliness convention c. Conservatism convention d. Prospective conventionHow to incease profitability if PE Ratio, EPS Ratio, and ROE cannot be calculated because of its unprofitability?What is the relationship between profit and ethics?
- The difference between the expected return and the actual return is referred to as the unexpected gain or loss. True or False?Which of the following aspects of a cost-benefit study would have the greatest uncertainty as to its precise value?a. the tangible costsb. the intangible costsc. the tangible benefitsd. the intangible benefitse. none of the above because they are equally preciseCompare and contrast the historical cost accounting model with the fair value accounting model. What are the advantages and disadvantages of each?