A) Increase the present loan by the interest B) Terminate the contract C) Refuse to grant future additional loan D) Demand full settlement of the loan
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- Which of the following is an arrangement by which one party promises to pay a sum of money to policyholder as protection against an adverse or unfavorable occurrence of event? a. Short Term Loans b. Fixed Deposit c. Insurance d. Investment25. What is the remedy available to vendor or lessor when the vendee or lessee fails to pay a single instalment or single periodic rental in an instalment sale or finance lease of personal property assuming a chattel mortgaged is constituted on the personal property sold or leased? Group of answer choices a. Exact fulfilment of the obligation with right to recovery for deficiency b. Cancel the instalment sale or finance lease resulting to mutual restitution c. Foreclose the chattel mortgage on the personal property sold or leased d. Any of the aboveA lender whose mortgagor has defaulted may be offered a deed in lieu of foreclosure. If he accepts, which of the following will be TRUE? a. Because it is voluntary, it will not be an adverse item on the buyer's credit. b. The lender will take the title subject to any junior liens. c. The lender will usually retain his rights under mortgage insurance or VA guarantee. d. The loan will still be assumable.
- A contractual agreement in which the borrower receives something of value now and agrees to pay the lender in the future with an interest is called as. a. Credit b. Insurance c. Money d. TimeIf an insured fails to pay the premium when due, the insured's heallh policy will remain in force for a specified period of lime under which of lhe following provisions? A.Grace Period B.Waiver of Premium C.Guaranteed Insurability D.Entire ContractIf the interest rate being credited to the annuity fund ever falls below a specified rate, the contract owner may withdraw all funds in the annuity without a surrender charge. This is called
- (Based on Appendix 12A) Whole-life insurance policies typically can be surrendered while the insured is stillalive in exchange for a determinable amount of money called the cash surrender value. When a company buysa life insurance policy on the life of a key officer to protect the company against the untimely loss of a valuableresource in the event the officer dies, how should the company account for the cash surrender value?when reinstating a policy an insured must provide the insurer with which of the following: A. Payment of unpaid pre at rate not exceeding 6% per annum B. Payment of unpaid pre at rate not exceeding 8% per annum C. Payment of unpaid pre at rate not exceeding 9% per annum D. Payment of unpaid pre at rate not exceeding 10% per annumWhen a lessee makes periodic cash payments for a finance lease, which of the following accounts is decreased? A.Right-of-Use Asset B.Lease Rental Expense C.Interest Expense D.Lease Liability
- 3326 J requests insurance on a neighbor's home in his own name. The insurance producer explains that such a policy also would violate the principle of: a. subrogation b. assignment c. warranty d. insurable interest 3330 Which of the following actions represents consideration in an insurance contract? a. paying the premium b. filing a claim c. missing the policy d. endorsing a policyIdentify the types of information that can readily be deter-mined from an amortization table for an installment loan. (More than one answer may be correct.)a. Interest expense on this liability for the current year. b. The present value of the future payments under chang-ing market conditions. c. The unpaid balance remaining after each payment.d. The portion of the unpaid balance that is a currentliability.Under a deferred annuity owned by a nongrantor trust, how does the annuity's death benefit operate?(Search Chapter 6) a. The death of the trust grantor triggers payout of the contract's death benefit and termination of the contract. b. The death of the primary annuitant triggers payout of the contract's death benefit and termination of the contract. c. The death of the trust beneficiary triggers payout of the contract's death benefit and termination of the contract. d. Annuities owned by a trust can continue in perpetuity; since trusts do not die, there is no death benefit payable from an annuity owned by a trust.
