Question: Hope is the majority owner and manager of Hope Floats, a medium sized manufacturer of life jackets. Over the past several years, her company

Hope is the majority owner and manager of Hope Floats, a medium

Hope is the majority owner and manager of Hope Floats, a medium sized manufacturer of life jackets. Over the past several years, her company has expanded rapidly and now has over 100 employees. Hope would like to offer her employees a group benefits plan. Hope meets with Callie, who works with Hope to solicit group quotes from different insurers on behalf of the company. Hope would like the company to pay the entire premium for the basic cpverage provided. After careful deliberation, Hope decides on a plan from Acadian Alliance Life Insurance Company. Which of the foliowing statements is CORRECT? Callie is a group broker. Disability benefits will be tax-free in the hands of employees. Hope Floats will adjudicate claims and Acadian Alliance will pay claims. Hope Floats' group plan will be a contributory plan. Ob) Oc)

Step by Step Solution

★★★★★

3.53 Rating (170 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

First of all let us understand the meaning of Group benefit plan A group benefit plan is an ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

The new manager of a theater would like to offer discounts to increase the number of tickets sold for shows on Monday and Tuesday evenings. She uses a sample of 30 weeks to record the number of...

CASE: Bram-Wear Lenny Bram, owner and manager of Bram-Wear, was analyzing performance data for the men's clothing retailer. He was concerned that inventories were high for certain clothing items,...

Steve is part owner and manager of a small manufacturing company that makes keypads for alarm systems. The keypads are sold to several different alarm companies throughout the country. Steve must...

Introduction In 2010, New United Motor Manufacturing, Inc., a unique and highly successful joint venture between Americas General Motors and Japans Toyota, went out of business. NUMMI, as the...

Scenario You and your group work for a multi-national consulting firm. Your team is a group of capital budget consultants and are seeking new engagements. You intend on responding to a Request for...

Warren Buffett?s Annual Shareholder Letter (page numbers for your convenience, but may not be comprehensive) 1. Describe the methods Warren Buffett uses to measure both his own firm?s performance and...

Refer to the 2013 annual report of JB Hi-Fi Limited on its website, ww.jbhifi.com.au, and answer the following questions: 1. What are the different types of revenues generated by the consolidated...

Refer to the 2013 annual report of JB Hi-Fi Limited on its website, ww.jbhifi.com.au, and answer the following questions: 1. List the subsidiary companies in the JB Hi-Fi Group. 2. What is the value...

I want to have the individual assignment essay answerddddd For personal use only JB Hi-Fi Limited Annual Report 2013 2013 ANNUAL REPORT jbhifi.com.au CORPORATE INFORMATION ABN 80 093 220 136...

7 Exercise 5-18 (Algo) Comparing LIFO numbers to FIFO numbers; ratio analysis LO A3 14.28 points View previous attempt Check my work Cruz Company uses LIFO for inventory costing and reports the...

There are three different methods commonly used for capturing network data. These are (1) using a network tap, (2) using a SPAN port on a switch, and (3) using a tool built into a network device...

Gross amount of invouce is $ 8 5 0 . there is no freight charge. date of invoice is 8 / 4 . terms of invoice are 3 / 1 0 , 2 / 1 5 and n / 3 0 . date of payment is 8 / 1 8 . find the cash discount....

A daily magazine stand contractor has newspaper stands along various stations on a train route. The demand for magazines is normally distributed and comes from three different forecasting models....

A photo frame production line operates 10 hours per day, 5 days per week and can produce 230 televisions per hour. In a typical day, employees have two 30-minute coffee breaks and one 1-hour lunch...

FAST DELIVERY SERVICES delivers packages in the city area and hires drivers to make deliveries. Variable costs has been budgeted and an average standard time has been established to make a delivery....

LaChut Health Center provides a variety of medical services. The company is preparing its cash budget for the upcoming third quarter. The following transactions are expected to occur: Prepare a...

For the given transfer function: Vo(s) / Vi(s) = (s^2C^2R^2 + 1) / (s^2C^2R^2 + 4sCR + 1) Assumiing that 1/(CR) = 120 PI so write the matlab code to find the magnitude plot

Assume that you are purchasing an investment and have decided to invest in a company in the smartphone business. You have narrowed the choice to SW Electronics or Nahla Electronics and have assembled...

Halo Systems specializes in servers for work- group, e- commerce, and enterprise resource planning (ERP) applications. The companys original job cost system has two direct cost categories: direct...

Several years after reengineering its production process, Trudell Corp. hired a new controller, Georgia Taylor. She developed an ABC system very similar to the one used by Trudells chief rival. Part...

What is the maturity value of $5000 invested at 6.0% compounded semiannually for seven years?

By calculating the maturity value of $100 invested for one year at each rate, determine which rate of return an investor would prefer. a. 8.0% compounded monthly b. 8.1% compounded quarterly c. 8.2%...

From a simple inspection, is it possible for an investor to rank the four rates of return in each of Parts (a) and (b)? If so, state the ranking. Give a brief explanation to justify your answer.