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Tanya [424]
3 years ago
11

Insurance underwriters sell insurance. True or False?

Business
1 answer:
Archy [21]3 years ago
8 0

Hello there!

Answer:

Your answer would be FALSE

Explanation:

The reason why your answer would be FALSE is because Insurance underwriters are NOT the ones that sell insurance to customers. The person that sells insurance to people are Insurance Agents.

What an insurance underwriter does is decide which types of insurance a company should have and which types of insurances the company shouldn't have. They're specifically not the ones that you call or see when you get insurance.

For example, when you call an insurance company, the person that picks up the phone is an Insurance Agent for the company. Insurance underwriters don't necessarily deal with customers because that is not their job task.

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Mountaintop golf course is planning for the coming season. Investors would like to earn a 12% return on the company's $47,000,00
MatroZZZ [7]

Answer:

47.4%

Explanation:

A. Expected golfers

440,000

B Revenue (440,000 × $84)

$36,960,000

C. Variable cost (440,000 × $17)

$7,480,000

D = B - C Contribution margin

$29,480,000

E Fixed cost

$20,000,000

F = D - E Profit

$9,480,000

G Assets

H = F/G × 100 Return on assets

47.4%

7 0
3 years ago
Which model of abnormality focuses on learning and the thinking that underlies behavior?
Sonbull [250]

Answer:

The correct answer is: cognitive model.

Explanation:

The cognitive model of abnormality in psychology refers to the study of how people think and what their perceptions are and how they affect their behavior, emotions, and reactions. Because of internal and/or external factors, individuals' thoughts could be distorted. However, they can learn to discriminate between one and another so their perceptions adjust more to reality.

4 0
3 years ago
If you put $7000 in a saving account that earns 2% interest for 10 years, how much will you have in
blondinia [14]

Answer:

1) 56,000

2) 9,950

3) 8,479

4) 25,500

Explanation:

1)20% of 70.000=56.000

2)5% of 10.000=9.950

3)21% of 10.500=8.479

4)15% of 30.000=25.500

4 0
3 years ago
a new hockey arena at a cost of $2,500,000. It received a downpayment of $500,000 from local businesses to support the project a
mylen [45]

Answer:

a. Prepare the journal entry to record the issuance of the bonds on January 1, 2018

we must first determine the market price of the bonds:

PV of face value = $2,000,000 / (1 + 5%)²⁰ = $753,778.97 ≈ $753,779

PV of coupon payments = $110,000 x 12.462 (PV annuity factor, 5%, 20 periods) = $1,370,820

market value of the bonds = $753,779 + $1,370,820 = $2,124,599

January 1, 2018, bonds are issued at a premium

Dr Cash 2,124,599

    Cr Bonds payable 2,000,000

    Cr Premium on bonds payable 124,599

b. Prepare a bond amortization schedule up to and including January 1, 2022

since we are not told which amortization method to use, I will use the straight line method.

Date           Interest        Cash              Premium          Carrying

                  expense      paid               amortization     value

7/2018        $103,770     $110,000       $6,230             $2,118,369

1/2019         $103,770     $110,000       $6,230             $2,112,139

7/2019        $103,770     $110,000       $6,230             $2,105,909  

1/2020        $103,770     $110,000       $6,230             $2,099,679    

7/2020       $103,770     $110,000       $6,230             $2,093,449

1/2021         $103,770     $110,000       $6,230             $2,087,219  

7/2021        $103,770     $110,000       $6,230             $2,080,989                              

1/2022        $103,770     $110,000       $6,230             $2,074,759                                

c. Prepare the journal entries to record the interest payments on January 1, 2020 and January 1, 2021.

bond premium amortization per coupon = 124,599 / 20 = $6,229.95 ≈ $6,230

January 1, 2020, coupon payment

Dr Interest expense 103,770

Dr Premium on bonds payable 6,230

    Cr Cash 110,000

January 1, 2021, coupon payment

Dr Interest expense 103,770

Dr Premium on bonds payable 6,230

    Cr Cash 110,000

d. Prepare the journal entry to record the bond called on January 2021 at 106

Dr Bonds payable 2,000,000

Dr Premium on bonds payable 87,219

Dr Loss on retirement of debt 32,781

    Cr Cash 2,120,000

5 0
3 years ago
Alpha Corporation reported the following data for its most recent year: sales, $670,000; variable expenses, $420,000; and fixed
MariettaO [177]

Answer:

the degree of operating leverage is 5

Explanation:

The computation of the degree of operating leverage is given below:

= Contribution margin ÷ EBIT

= (Sales - Variable expense) ÷ (Sales - Variable expense - Fixed expense)

= ($670,000 - $420,000) ÷ ($670,000 - $420,000 - $200,000)

= $250,000 ÷ $50,000

= 5

Hence, the degree of operating leverage is 5

3 0
3 years ago
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