All categories

3 years ago

All of the following are considered to be typical characteristics describing the nature of an insurance contract EXCEPT

Business

1 answer:

slavikrds [6]3 years ago

3 0

Answer:

Bilateral

Explanation:

According to my research on the different terms used when referencing an insurance contract, I can say that all of the answers provided except for Bilateral are considered typical characteristics describing the nature of an insurance contract. A bilateral contract is defined as an agreements between two parties in which each side agrees to fulfill his or her side of the bargain.

Since an insurance contract is a fund that the insurance company pays in the case of an accident in which the person is injured, there is only one party that agrees to fulfill their side of the bargain and that is the insurance company.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

You might be interested in

Use the following financial statement information as of the end of each year to answer this question. 2017 2016 Inventory $54,00

Allisa [31]

Answer:

Gross Margin = 60.97%

Net Profit Margin = 4.337%

Explanation:

Gross Profit Margin = $\frac{Net\: Sales \: - \: Cost \: of \: Goods \: Sold}{Net Sales}$

Here as per the data provided,

Net Sales for the year 2017 = $784,000

Cost of goods sold for the year 2017 = $306,000

Gross Profit Margin = $\frac{784,000 \: - \:306,000}{784,000} \times 100$ = 60.97%

Net profit margin = $\frac{Net\: Income}{Net Sales}\times 100$ =

$\frac{34,000}{784,000}\times 100$ = 4.337%

Since it is not specified which margin to calculate, when we say profit margin we will calculate gross margin.

Gross Margin = 60.97%

Net Profit Margin = 4.337%

5 0

3 years ago

On a shopping trip, Melanie decided to buy a light blue coat made from woven fabric. A tag on the coat stated that the price wa

ra1l [238]

Answer:

Consumer surplus is $15.99.

Explanation:

Melanie decided to buy a coat priced $79.95.

When she brought a coat to the sales clerk, she found out that it is on a 20% discount and she has to $15.99 less than the original price.

This means that her consumer surplus is at least $15.99.

The consumer surplus is the difference between the maximum price a consumer is willing to pay and the price it actually pays.

Melanie was willing to pay $79.95. But she actually paid $63.96. The difference between the two is $15.99.

6 0

3 years ago

Which statement best describes the two billing cycle method that some credit card companies use

Alborosie

Answer:

Double-cycle billing is a method used by creditors, usually credit card companies, to calculate the amount of interest charged for a given billing period. It takes into account not only the average daily balance of the current billing cycle (usually one month), but also the average daily balance of the previous cycle.

Explanation:

idk...my mom helped me answer this for you

3 0

3 years ago

Ibis Paper Company prepared the following static budget for November: Static budget Units/Volume 12,000 Per unit Sales revenue $

arlik [135]

Answer:

Net operating income= $159,900

Explanation:

Giving the following information:

Sales revenue= $21.00

Variable costs= $8.00

Fixed costs 13,000

<u>For 13,300 units</u>:

Sales= 21*13,300= 279,300

Total variable costs= 8*13,300= (106,400)

Total contribution margin= 172,900

Fixed costs= (13,000)

Net operating income= 159,900

6 0

4 years ago

Mike is looking for a loan. He is willing to pay no more than an effective rate of 8. 000% annually. Which, if any, of the follo

Alexeev081 [22]

The Loan condition of Loan X and Loan Y will meet the effective rate of 8.00% criteria of Mike.

Computation:

Given,

Effective interest rate =8% $(i_{c})$

Nominal interest rates: $(r)$

Loan X =7.815%, compounded semiannually $(m=2)$

Loan Y: 7. 724% nominal rate, compounded monthly $(m=12)$

Loan Z: 7. 698% nominal rate, compounded weekly $(m=52)$

The formula of the effective interest rate will be used:

$i_{c}=(1+(\frac{r}{m})^{m}-1)$

For Loan X:

$i_{c}=(1+(\frac{r}{m})^{m}-1)$

$i_{c}=(1+(\frac{0.07815}{2})^{2}-1)$

$i_{c}=0.07958 \:0r\: 7.968\%$

As the effective interest rate of Loan X is lower than the actual effective interest rate. Therefore, loan X meets the criteria of Mike.

For Loan Y:

$i_{c}=(1+(\frac{r}{m})^{m}-1)$

$i_{c}=(1+(\frac{0.07724}{12})^{12}-1)$

$i_{c}=0.08003 \:0r\: 8.003\%$

As the effective interest rate of Loan Y is greater than the actual effective interest rate. Therefore, loan Y will not meet the criteria of Mike.

For Loan Z:

$i_{c}=(1+(\frac{r}{m})^{m}-1)$

$i_{c}=(1+(\frac{0.07698}{52})^{52}-1)$

$i_{c}=0.07996 \:0r\: 7.996\%$

As the effective interest rate of Loan Z is lower than the actual effective interest rate. Therefore, loan Z meets the criteria of Mike.

Therefore, in reference to the computation of the effective interest rate of individual loans. The correct option is b. X and Z.

To know more about the effective interest rates, refer to the link:

brainly.com/question/2602223

5 0

3 years ago