Explain what is meant by an insurable interest, and distinguish between an insurance agent and a broker.
Question:
Explain what is meant by an insurable interest, and distinguish between an insurance agent and a broker.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
A broker represents the person seeking insurance and the insur...View the full answer
Answered By
Wahome Michael
I am a CPA finalist and a graduate in Bachelor of commerce. I am a full time writer with 4 years experience in academic writing (essays, Thesis, dissertation and research). I am also a full time writer which assures you of my quality, deep knowledge of your task requirement and timeliness. Assign me your task and you shall have the best.
Thanks in advance
4.90+
63+ Reviews
132+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Explain what is meant by an 'active market'.
-
What is meant by an insurable interest and how does it apply to the various types of insurance discussed in the chapter?
-
Explain what is meant by an orderly transaction.
-
Write a recursive program to draw plasma clouds, using the method suggested in the text.
-
The transactions below took place at Outdoor Adventures, a retail business that sells outdoor clothing and camping equipment. Indicate the numbers of the general ledger accounts that would be debited...
-
For the differential manometer shown in Fig. 3.27, calculate the pressure difference between points A and B. The specific gravity of the oil is 0.85. 10 in 32 in Oil Water 9 in el
-
a. What is the auditor's responsibility for subsequent events? b. How does he discharge this responsibility?
-
Anna works on an assembly line where it takes her 30 minutes to produce 20 units of a product needed to fill a container. It takes her an additional 5 minutes to transport the container to Josh, who...
-
Discuss with suitable examples why activity-based costing (ABC) is better than the traditional costing system. Provide a suitable numerical example of ABC in the manufacturing sector and show all the...
-
Recently, Ashland MultiComm Services has been criticized for its inadequate customer service in responding to questions and problems about its telephone, cable television, and Internet services....
-
Who can be charged with an offense under the Canadian Environmental Protection Act?
-
Explain the nature of the insurance policy, a rider, an endorsement and reinsurance. Summarize the different types of insurance that are available to businesses.
-
Evansville Company uses an organizational incentive plan for its entire manufacturing facility. For the year 20B, 755 employees were eligible, and each participated equally. The plan provides for a...
-
Water must be pumped from ground level to the top of a building. The building is \(30 \mathrm{~m}\) tall. We wish to compare the work required to pump water at three different average velocities: \(1...
-
What is the purpose of the two fields of study, neuroeconomics and behavioral economics? Why might people tend to be overconfident?
-
Explain why repeated interactions tends to break down the solution of a prisoners dilemma. Why does the dilemma go away?
-
Let \(X_{1}, X_{2}\), and \(X_{3}\) be independent normal variables with \[\begin{array}{lll}E\left(X_{1} ight)=-4 & \text { and } & \sigma_{1}^{2}=1 \\E\left(X_{2} ight)=0 & \text { and } &...
-
Explain the difference between a dominant strategy and a Nash equilibrium.
-
What sources of information will you use to prepare for an interview with a specific organization?
-
For the following exercises, rewrite the sum as a product of two functions or the product as a sum of two functions. Give your answer in terms of sines and cosines. Then evaluate the final answer...
-
Compare and contrast the job attitudes discussed in this chapter.
-
How can managers increase job satisfaction and what are the organizational consequences when there are high or low levels of job satisfaction?
-
List and describe the four employee responses to dissatisfaction.
-
Jeremy Pruitt Ltd is considering the replacement of a delivery truck. The current truck could last for three more years. Operating costs are 5000 per year. We are currently depreciating it at 4000...
-
As a long-term investment at the beginning of the 2024 fiscal year, Florists International purchased 30% of Nursery Supplies Incorporated's 8 million shares of capital stock for $30 million. The fair...
-
PJ Ltd Co. has been contracted to supply two products S & T worth 500 pieces, the joint cost function for the two varieties is given as: C = 100S2 +150T2. The quantity of S and T are not specified...
Study smarter with the SolutionInn App