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3 years ago

An insurance producer wishing to do business under any name other than their legal name must notify the Commissioner:

Business

1 answer:

Fiesta28 [93]3 years ago

7 0

Answer:

prior to using the <u>Assumed names</u>

Explanation:

An insurance producer must get himself or his organization registered before doing any business of insurance.

For this there are certain rules as related to the names of such business.

There is the requirement to follow the rules and regulations.

If some person does this business not in his name, and uses some other assumed name, that is any kind of "insurance" word is used for example, "Life Insurance Co." then the person is required to take a prior permission from the commissioner.

This is to ensure that the name shall not be registered with some other organization.

Thus, no assumed names to be used, before prior permission is received from the commissioner.

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Negative items on a credit report that are not correct:

Sav [38]

Answer:
C

Explanation:

Something with a mistake is never best ignored it’s best if they change it and get it corrected.

5 0

3 years ago

"A customer holds 10 ABC Jan 60 Call contracts. ABC Corporation is paying a 20% stock dividend. On the ex date, the contracts wi

Viefleur [7K]

Answer:

On the ex date, the contracts will show as:

10 ABC Jan 60 Calls

The customer must exercise call contracts to buy the stock prior to the Ex-Date

Explanation:

The reason is that if the customer is not exercising the call contracts then it will not be able to receive the stock dividend. Furthermore, the OCC doesn't adjust the contract because of the dividend announcement prior to exercise of contract. This means it will only adjust if the contract is exercised.

The settlement of the exercise takes around 2 business working days, hence the customer must exercise the option 2 days earlier to the ex-date.

3 0

4 years ago

An apparel manufacturing plant has estimated the variable cost to be $2.40 per unit. Fixed costs are $2,000,000 per year. Forty

marta [7]

Answer:

BEP units: 42,017

BEP dollars: 2,100,850

unit cost at 100,000 units produced: 22.40 dollars

operating profit : 1,656,000

Explanation:

$Sales \: Revenue - Variable \: Cost = Contribution \: Margin$

50 - 2.4 = 47.6 contirbution margin per unit

$\frac{Fixed\:Cost}{Contribution \:Margin} = Break\: Even\: Point_{units}$

2,000,000/47.6 = 42.016,80 BEP units

BEP units x sales price = BEP dollars

42,017 x 50 = 2,100,850

(B)

fixed cosy/ units produced = fixed cost per unit

2,000,000/ 100,000 = 20 fixed cost per unit

fixed cost + variable cost = total cost

20 + 2.40 = 22.4

(C)

There are 40% units sold at the preferred customer at cost

So we sale at gain only 60% of the units:

100,000 units x 60% x 50 = 3,000,000

100,000 units x 40% x 22.40 = 896,000

Total revenue 3,896,000

Cost: 100,000 x 22.40 <u> (2,240,000) </u>

operating profit 1,656,000

4 0

3 years ago

Uncle Tupelo's Gifts signs a three-month note payable to help finance increases in inventory for the Christmas shopping season.

ladessa [460]

Answer:

Interest expense --------$1,500

Interest payable-------------- $1,500

Explanation:

Given the following ;

Amount of note signed = $75,000

Annual interest rate = 12% = 0.12

Date signed = November 1

Calculate interest expense to be made in the adjusting entry by December 31 :

NOTE: No entries have been made previously for the interest expense

Monthly Interest = (Amount × rate) ÷ 12

Monthly interest = ($75,000 × 0.12) ÷ 12

Monthly interest = $9000 ÷ 12 = $750

November 1 to December 31 = 2 months

$750 × 2 = $1500

Interest expense = $1,500

3 0

3 years ago

What makes a project productive? What makes a project counterproductive? Explain.

sineoko [7]

Answer:

Productive projects mean people are benefitting from the projects, a counterproductive project would mean resources are being wasted and no one is benefiting. When property rights are well defined and enforced, businesses in a market economy will then have a strong incentive to undertake productive projects.

Explanation:

3 0

4 years ago