T applies for a life insurance policy and is told by the producer that the insurer is bound to the coverage as of the date.
The correct answer is "Conditional receipt". A conditional receipt binds the insurer to coverage as of the date of the application or medical exam, provided the proposed insured is determined to be an acceptable risk.
Under a conditional receipt, the applicant and the insurance agency shape a "conditional" settlement this is contingent upon the situations that existed when an utility or medication exam is finished. It provides that the applicant is included right now as long as they bypass the insurer's underwriting requirements.
How is a conditional receipt nice described?
A conditional receipt is a document given to someone who applies for an coverage contract and has provided the preliminary top rate payment. This receipt manner that the character can handiest be insured if she or he meets the standards of insurability and is given approval by the insurance company.
How does a conditional receipt vary?
The distinction among a conditional binding receipt and a straightforward binding receipt is that a straightforward binding receipt requires the insurance organization to pay the dying gain as soon as the primary premium receives paid, whether or not the applicant is in the end approved or no longer. Conditional binding receipts are common.
Learn more about conditional receipt here :- brainly.com/question/14332118
#SPJ4
Answer and Explanation:
A. Given that Design 1A will cost $1.7 million to build and $175,000 per year to maintain
Given that Design 1B will cost $3.6 million to build and $40,000 per year to maintain
Both designs are assumed to be permanent
To find ROR using AW based rate of return equation, we find present value of each design and equate them:
Each design is permanent so
Present value of perpetuity:
Design 1A= 1700000+175000/r
Design 1B = 3600000+40000/r
=1700000+175000/r=3600000+40000/r
135000/r=1900000
Cross multiply
r=135000/1900000
r= 0.0710
r=7.10%
B Given that ROR=7.10% and MARR is 25%
MARR>ROR
Hence we reject both designs
Answer:
An agency relationship
Explanation:
An agency relationship is one in which a party follows up for the benefit of and with the authority of another party. The head of a firm or organisation names or approves a specialist to follow up for the company benefit. Subsequently, she is answerable for the moves of the operator made in encouragement of her obligations or per the guidelines of the head. The specialist will connect with the third party on behalf of the company.
An effective outline organizes the content into an introduction, body, and conclusion.
Hope this helps! Remember to give me a like if it did. THANK YOU!
C because second price sealed bid auction is right over the other answers
