homeowner’s policy was cancelled by the Illinois insurance guaranty fund due to insolvency of the insurance company the unearned premium was $625.00. What is the premium refund due to the insured for the unexpired policy period? 1. $525 2. $625 3.$1150 4. $0
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A homeowner’s policy was cancelled by the Illinois insurance guaranty fund due to insolvency of the insurance company the unearned premium was $625.00. What is the premium refund due to the insured for the unexpired policy period?
1. $525
2. $625
3.$1150
4. $0
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- A sports mortgage is the brainchild of Stadium Capital Financing Group, a company headquartered in Chicago, Illinois. It is an innovative way to finance cash-strapped sports programs by allowing fans to sign up to pay a “mortgage” over a certain number of years for the right to buy good seats at football games for several decades with season ticket prices locked in. The locked-in price period is 50 years in California. Assume you and your brother went to UCLA. Your brother, Harold, purchases a $50,000 mortgage and pays for it now to get season tickets for $290 each for 50 years, while you, being a three-time alumnus of the same university, are able to buy season tickets at $390 in year 1, with prices increasing by $20 per year for 50 years. NOTE: This is a multi-part question. Once an answer is submitted, you will be unable to return to this part. Which of you made the better deal at an interest rate of 8% per year? The present worth of Harold's investment is $− , and the present…A sports mortgage is the brainchild of Stadium Capital Financing Group, a company headquartered in Chicago, Illinois. It is an innovative way to finance cash-strapped sports programs by allowing fans to sign up to pay a “mortgage” over a certain number of years for the right to buy good seats at football games for several decades with season ticket prices locked in. The locked-in price period is 50 years in California. Assume you and your brother went to UCLA. Your brother, Harold, purchases a $45,000 mortgage and pays for it now to get season tickets for $290 each for 50 years, while you, being a three-time alumnus of the same university, are able to buy season tickets at $390 in year 1, with prices increasing by $20 per year for 50 years. What should Harold have been willing to pay UCLA upfront for the mortgage to make the two plans exactly equivalent economically if the rate of interest is 8% per year? (Assume Harold has no reason to give extra money to UCLA at this point and that…This refers to the premium to compensate investors for not having to convert their investments into cash. *a. None of the choicesb. Default Risk Premiumc. Liquidity Risk Premiumd. Maturity Risk Premiume. Special Characteristics Premium
- Interest rate risk; a. is the risk that a bond's coupon rate may change over time b. is lesser for bonds with a longer term as compared to bonds with a shorter term c. is zero on the date of maturity of a bond d. is the risk that the market interest rate may remain constantAnswer these questions, assuming the year begins on 1 July: If the amount in supplies expense is the 31 July adjusting entry, and $1320 of supplies was purchased in July, what was the balance in supplies on 1 July? If the amount in insurance expense is the July adjusting entry, and the original insurance premium was for 1 year, what was the total premium and when was the policy purchased? If $7500 of salaries was paid in July, what was the balance in salaries payable at 30 June 2019? There were no additional amounts of revenue received in advance during July. An amount of $2400 was received for services performed in July. What was the amount of service revenue received in advance at 1 July 2019/30 June 2019? (Hint: Reconstruct the T accounts to help answer these questions.)The Additional Insured—Vendors (HO 07 51) endorsement to a homeowners policy extends the definition of insured to include The property manager of the insured premises. Lessor(s) of the insured's premises. Independent contractors or agents named in the schedule. Mortgageholder(s) of the insured premises.
- The owner of a chain of bicycle stores are uncertain whether on of their shops is covered under their commercial general liability policy. To verify coverage, they should check which of the following policy provision? Condition Declaration other insurance insuring agreementThe price of a bond with no expiration date is originally $1,000 and has a fixed annual interest payment of $150. If the price of the bond then falls by $100, what will be the interest rate yield to a new buyer of the bond? Multiple Choice 16.7 percent 8.4 percent 15 percent 13.6 percent 10 percentSuppose that a bond is purchased between coupon periods. The days between the settlement date and the next coupon period is 115. There are 183 days in the coupon period. Suppose that this bond has a coupon rate of 7.4% and there are 10 semiannual coupon payments remaining. Assuming that the par value is $100, what is the “clean price” for this bond if a 5.6% discount rate is used? What is the accrued interest for this bond? What is the “dirty price?”
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