Answer: B. An insured borrows money from the bank and makes a collateral assignment of a part of the death benefit to secure the loan.
Explanation:
A collateral assignment allows a person to use their life insurance policy as collateral when taking out a loan. It is therefore based on a life insurance policy ownership, but isn't one itself.
It works by allowing the creditor to be able to get back whatever is owed to them when the debtor dies by claiming it from the proceeds of the debtor's life insurance policy.
Alternative energy is engery that replaces fossil foil.
Answer:
r = 0.7575
Explanation:
Result Details & Calculation
This is a strong positive correlation, which means that high X variable scores go with high Y variable scores (and vice versa).
X Values
∑ = 78
Mean = 15.6
∑(X - Mx)2 = SSx = 337.2
Y Values
∑ = 428
Mean = 85.6
∑(Y - My)2 = SSy = 57.2
X and Y Combined
N = 5
∑(X - Mx)(Y - My) = 105.2
R Calculation
r = ∑((X - My)(Y - Mx)) / √((SSx)(SSy))
r = 105.2 / √((337.2)(57.2)) = 0.7575
Meta Numerics (cross-check)
r = 0.7575
