Which of the following stalements is required by Long- Term care insurers when referring lo inflation proleclion in qualified Long-Term Care policies? A.All policies must include inflation protection.

Which of the following stalements is required by Long- Term care insurers when referring lo inflation proleclion in qualified Long-Term Care policies? A.All policies must include inflation protection.

Essentials of Business Analytics (MindTap Course List)

2nd Edition

ISBN:9781305627734

Author:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Publisher:Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson

Chapter5: Probability: An Introduction To Modeling Uncertainty

Section: Chapter Questions

Problem 17P: The probability distribution for damage claims paid by the Newton Automobile Insurance Company on...

See similar textbooks

Related questions

Q: rchases land and constructs a service station and car wash for a total of $487500. At January 2,…

A: The discount rate refers to the concept of computing future cash flows on the current value of money…

Q: A city has the following information. Purchase Order Billed Amount Amount $ 550,000 $ 490,000…

A: The journal entries record the business transaction for the first time in the books of accounts and…

Q: Jax Incorporated reports the following data for its only product. The company had no beginning…

A: The unit product costs under absorption costing: 64000 units 88000 units Direct materials…

Q: The Marchetti Soup company entered into the following transactions during the month of June:(1)…

A: Introduction: Journals: All the business transactions are to be recorded in Journals. Journals are…

Q: 1. The income statements for Mavis Manufacturing Inc. are provided for two recent years.…

A: Particulars 2022 2021 Revenue 100% 100% Cost of goods sold 40% 40% Gross Profit 60% 60%…

Q: Corporate creditors are required to approve a plan of consolidation. O True O False

A: Consolidation are the part of corporate world because it benefits many entities to save themselves…

Q: Required: 1. Complete the schedule of the company's total costs and costs per unit as given in the…

A: Under CVP analysis, variable costs per unit will be the same and the total variable costs will…

Q: Bad account inc. sold $10000000, 5 year, 3%, semi-annual bonds for $9124794 on Jan 1, 2022. From its…

A: Interest expense is 456239.7 Amount paid to Lawyers would not affect the carrying amount.

Q: How will the increase in the price of soft drinks affect the demand for soft drinks? How much…

A: Prices affect the business revenue as it is directly associated with the revenues which are…

Q: Jackie qualified as Head of Household for 2020 tax purposes. Jackie's 2020 taxable income was…

A: The capital loss and capital gains are adjusted against each other over the period of time.…

Q: Based on the following data for the current year, what is the number of days' sales in receivables…

A: Average accounts receivable = (Accounts receivable, beginning of year + Accounts receivable, end of…

Q: What tax remedy is provided by the Tax Code to minimize the impact of indirect double taxation on…

A: Disclaimer: "Since you have asked multiple questions ina single question so we solved first question…

Q: d coverage. An analysis of the company's insurance polic surance coverage remains. upplies account…

A: Solutions Journal entries 1). Depreciation Expense A/c Dr. $18,000 Accumulated…

Q: Waterways is considering the replacement of an antiquated machine that has been slowing down…

A: The question is based on the concept of Cost Accounting.

Q: Unicorn Company has been manufacturing its own seat for its bicycles. The company is currently…

A: Incremental cost analysis is a cost analysis between different alternatives. In this approach…

Q: 12. During the month your client informed you that he is going to buy a vehicle for land transport…

A: In the context of the given question, we are required to give a bit of good advice about claiming…

Q: In the first part, how did you get the new price* new shared issued as 1000000? I am very confused.

A: Outstanding shares: This includes the total number of company's shares that are actually held by…

Q: 1. Green Rose Inc. is considering these following investments for year 2022: Machine A Machine B…

A: Green Rose Inc. is considering investment in three machines for year 2022. (I) Net Investments of…

Q: During Heaton Company's first two years of operations, it reported absorption costing net operating…

A: The main distinction between absorption costing and variable costing is the treatment of fixed…

Q: On September 1, Global Company factored $1,000,000 of accounts receivable with Marks Financing on a…

A: Journal - Journal entries are used to record and track business transactions. Journal entries are a…

Q: Prepare a worksheet.

A: Trial balance is the summary of all general ledger account balances in the business. Total of debits…

Q: lenco in Alberta has four employees with total gross earnings of $322,780.00 and excess earnings of…

A: Earnings are assessable to the maximum amount per worker regardless of the the time spent working…

Q: 15 16 A. 17 18 c D EMPLOYEES: (one each) Supervisor Measurer fuses the pencil and ruler Cutter (uses…

A: In job sheet it is given that total direct labor hours required by WVU special order is 1.2 hours.…

Q: A company paid $600,000 for 1-year, 10% bonds with a par value of $600,000 on July 1. The bonds pay…

A: A record is typically kept in the ledger accounts, but it can also be kept in a specific account,…

Q: An entity has two office employees Ben and Dan who earn P250 and P400 per day, respectively. They…

A: Adjusting entries are prepared by management to ensure the accrual basis accounting system. It is…

Q: plai

A: A static budget is one that employs estimated quantities for a certain period prior to the start of…

Q: Cost 5454,000 1,750,000 Retai $500,000 3,450,000 160,000 65,000 49.000 cancellations 10,000…

A: Retail method uses inventory to be shown at retail price which help in computing the cost of ending…

Q: Daube Industries’ operations for the month of October are summarized as follows: Provided $2,500…

A: Introduction: A journal entry is frequently used to record a transaction in an organization's…

Q: 7. Inventory excludes... A. Goods purchased for resale 8. Finished goods produced C. Construction…

A: The inventory is reported as current assets in the balance sheet at the end of period.

Q: On June 15, 2021, Sanderson Construction entered into a long-term construction contract to build a…

A: Under construction costing the revenue can be recognized either on the percentage of completion…

Q: Northern Industries had sales of $429,000 in the month of May. Use the retail method to estimate the…

A: Introduction:- Retail method is used by retailers that resell merchandise to make an estimation of…

Q: Vertical Analysis of Balance Sheet Balance sheet data for Kwan Company on December 31, the end of…

A: ℅ will be calculated as follows (Item/ total asset or liabilities+shareholders equity) *100

Q: ark Donald, the company's controller standard costs for each 5-foot table a standards based on the…

A: Direct material price variation (also known as direct material spending/rate variance) is the…

Q: Buster Industries pays weekly salaries of $30,900 on Friday for a five-day week ending on that day.…

A: Adjusting entries are prepared by management to ensure the accrual basis accounting system. It is…

Q: and

A: The purchase of inventory is a foreign currency transaction because ABC co. incurred transaction in…

Q: Prepare general journal entries on December 31, 2018 to record the following unrelated year-end…

A: Let's understand some basics A journal entry is used to record a business transaction in the…

Q: In its first year of operations, Patricia Corp. earned $48,100 in service revenue. Of that amount,…

A: Cash basis of accounting : Under cash basis all those transaction are considered for which cash is…

Q: Bob died in 2020. He left an estate worth $20,000,000, a surviving spouse, and a two trust will…

A: CST termed as Credit Shelter Trust which is made to allow the affluent couples for decreasing or…

Q: Question Content Area Based on the following data for the current year, what is the number of days'…

A: Financial ratios are calculated by the management and investors to take several decisions. There are…

Q: From the following list of balances extract from Vivian Trading's book as at 31 May RM RM Cash in…

A: Trial Balance - After transferring all the transactions into Ledgers Company closes the accounts and…

Q: Prepare a Form 1040 (pages 1 and 2). Statement of Facts Taxpayer Jane Doe has the following…

A: Tax is an important source of income for the government.Tax is not a burden on the taxpayer but a…

Q: Hi I've attempted to use your method for calculated interest, but it is registered as incorrect as…

A: The initial value of a self-constructed asset is the sum of the amount of construction expenditure…

Q: Variable costs 600 300 Contribution 400 200 Fixed costs 200 200 Profit 100…

A: Under Marginal costing (variable costing) contribution percentage or contribution per unit of…

Q: 3. Consider the following information on South Korea's trade. Thirty percent of the trade is…

A: Effective trade weight real exchange rate calculates the total effective exchange rate a company…

Q: The Marchetti Soup company entered into the following transactions during the month of June:(1)…

A: Lets understand the basics. Journal entry is required to make to record event and transaction that…

Q: The following transactions relate to the shareholders' equity of Telecom Corporation for 2021, its…

A: Authorized capital represents the limit of capital set at the time of incorporation where the…

Q: Concord has a standard of 2 hours of labor per unit, at $12 per hour. In producing 2600 units,…

A: Variance is considered as the difference between budgeted value and actual results. The management…

Q: Gildan Activewear Inc. reported the following selected financial information (all in U.S. $…

A: The ratio analysis helps to analyze the financial statements of the business on the basis of various…

Q: Use the adjusted trial balance for Stockton Company. Determine the owner’s equity ending balance.…

A: Owners' equity is the capital invested by the owner in the business. It represents the amount of…

Q: The manager at Rainbow International prepares a Cost of Quality report to report the following…

A: Every business wants to improve its process with effectiveness and efficiency. This is due to…

Question

Which of the following stalements is required by Long- Term care insurers when referring lo inflation proleclion in qualified Long-Term Care policies?

A.All policies must include inflation protection.

B.It is mandatory for the insurance companies lo offer consumers the option of inflation protection.

C.The insurance companies have the choice if hey want to offer inflation protection.

D.The purchaser must requesl inflation protection after lhe policy is issued.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

Briefly explain the following characteristics of long-term care insurance. Type of long-term care policies Triggers to become eligible for benefits Exclusions Protection against inflation
Under the revised Annuity Suitability Model Regulation, all obligations to meet the consumer best interest standard and ensure that a consumer's financial needs and objectives are addressed now fall to the producer. Insurers have no obligations or practice standards under the new regulation. A.True b. False
If the renewal of the policy was at the discretion of the insurer, would you expect the premiums to be higher or lower?
ASAP When an insurer accepts accepts risk from a large number of enrollees.OA. the average loss that will be incurred by the insurer becomes much less predictableOB. the average loss that will be incurred by the insurer becomes much more predictable.OC. the average loss that will be incurred by the insurer can be calculated with certainty.O D.the average loss that will be incurred by the insurer becomes impossible to predict.
Kindly help Which of the following statements about life insurance is NOT accurate? a) permanent insurance puts a portion of the premium paid into investment which the insured then has the potential to cash in and recoup, whereas the premium paid for term insurance is simply a sunk cost for the insured . b) permanent insurance guarantees that the policy will pay out the face value to the beneficiary upon the death of the insured , whereas term insurance won't pay out anything at all once the term has finished. c) Term insurance is almost always less expensive than permanent insurance- both the monthly premium amount as well as the amount typically spent on insurance overall. d) Term insurance is simple life insurance policy that involves a less complicated contract with fewer provisions and exemptions , whereas permanent is the type of insurance that you must take care in reading the detailed fine print in the policy
Briefly explain the following characteristics of long-term care insurance. Protection against inflation
Who are front-line underwriters? What are premium volume and loss experience with the insurer? What is monitoring of underwriting decisions?
The probability distribution for damage claims paid by the Newton Automobile Insurance Company on collision insurance follows. Use the expected collision payment to determine the collision insurance premium that would enable the company to break even. The insurance company charges an annual rate of $520 for the collision coverage. What is the expected value of the collision policy for a policyholder? (Hint: It is the expected payments from the company minus the cost of coverage.) Why does the policyholder purchase a collision policy with this expected value?
The policy holder who receives the coverage is called ________________. a. Premium b. Face value c. Insured d. Insurer
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 annum
It pertains to a risk management technique when acquiring a life insurance. *risk avoidancerisk retentionrisk transferanswer not given
When a life insurance policy lapses, it: a. benefits the insured b. benefits neither the insurer nor the insured. c. benefits the insurer d. benefits both the insurer and the insured