Replacement Value of Building $340,000 Face Value of Policy $300,000 Coinsurance Amount Clause (%) of Loss 90 $115,000 Amount of Loss Insurance Company Will Pay
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- The insured has divided the insurance on its building as follows: $200,000 with insurer M and $300,000 with insurer R. The If there is a $100,000 loss, insurer M will pay: OA $40,000 OB. $60,000 C $66,666 $100,000 D.Which of the following is the correct calculation of insurance premium? a. (Premium/1,000) x table rate b. (Face value/1,000) x table rate c. (1000/Face value) x table rate d. (Table rate/1,000) x Face value7. A net premium of $41 payable for life will provide (x) with either $5,000 n-year term insurance followed by $1,000 whole life insurance after age x + n, or $3,000 n-year term insurance followed by $2,000 whole life insurance after age x + n. What is 1000 · Px ? A) 17.37 B) 17.47 C) 17.57 D) 17.67 E) 17.77
- Find the following: (Round your answer to the nearest cent.) Face Value Age and Sex of Insured Type of Insurance Annual Premium $26,000 37F Straight LifeCalculate the amount the insurance company will pay: $ Value of Property Amount of Insurance Policy Actual Fire Loss Amount Insurance Company will pay 70,000 $ 40,000 80% Co-Ins $ 11,200 90,000 $ 50,000 80% Co-Ins $ 36,000The рroduction deрartment of an insurance comрany reрorted Ρhр 45,121.00 insured рolicy by an insurance agent. What was the commission rate of the agent who receives Ρhр 3,390 as his commission last month.
- Question text If the value of the subject matter of insurance is 4000 dinars, the amount of insurance is 8000 dinars, and the actual value of the loss is 2000 dinars, then the compensation is equal Select one: a. 4000 dinars b. 200 dinars c. 400 dinars d. 2000 dinarsCalculate the annual premium for the following policy. (Use Table 20.1.) Amount of coverage (face value of policy) Age and sex of insured Type of insurance policy Annual premium $200,000 42 (M) 20-payment lifeKk105. Find the annual premium. Face Value: $30,000 Age of Insured: 50 Sex of Insured: M Type of Policy: Universal life
- 12) The life insurance fund at the beginning of the year is OMR 2,300,000. During the year outstanding interest on investment is OMR 10,000, bonus in reduction of premium is OMR 8,000 and reinsurance claim recoverable is OMR 7,000. Find the closing balance of life insurance fund after making the adjustments.The Revenue Account of a life insurance company shows the life assurance fund on 31st March, 2020 at $5,000,000 before taking into account the following items: -Claims covered under re-insurance $12,000.- Bonus utilized in reduction of life insurance premium $4,500. -Interest accrued on securities $8,000.-Outstanding premium $5,000-Claims intimated but not admitted ` $26,000. What is the life assurance fund after taking into account the above omissions?Help *CMOU CD A1D 17 nz inn 1IDid =ın in PBO balance, January 1 Plan assets balance, January 1 Service Cost Interest cost Gain from change in actuarial assumption Benefits paid Actual return on plan assets Contributions 2021 $480 300 75 45 22 (36) 20 60 The expected long-term rate of return on plan assets was 8%. There were no AOCI balances related to pensions on January 1, 2021, but at the end of 2021, the company amended the pension formula, creating a prior service cost of $12 million. Required: 1. Calculate the pension expense for 2021. 2. Prepare the journal entries to record (a) pension expense, (b) gains or losses, (c) prior service cost, (d) funding, and (e) payment of benefits for 2021. 3. What amount will Electronic Distribution report in its 2021 balance sheet as a net pension asset or net pension liability? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the pension expense for 2021. (Enter your answer in…
