Contingency contracts - Study guides, Class notes & Summaries

MICHIGAN VARIABLE ANNUITIES EXAM 2024 WITH 100% CORRECT ANSWERS Other names for pure life settlement - correct answer -life income -life annuity What annuity settlement option produces the largest monthly income guaranteed for life? - correct answer pure life settlement option second life contingency option - correct answer life with period certain (ie. 10 years) so even if the annuitant does or does not die within that timeframe, insurer guarantees to continue the annuity payments t...

CFCM Practice Test Questions and Answers Graded A+ - Latest Updated 2024/2025 (Solved) How often are statutory acquisition-related dollar thresholds in the FAR adjusted for inflation? - answerEvery 5 years A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a - answer-determination and findings Contracting officers below the level of ___ shall be selected and appointed - an...

CFCM Practice Test Questions and Answers Latest Updated 2024/2025. A form of written approval signed by an authorized official that is required by statute or regulation as a prerequisite to taking certain contract actionsi s defined as a - answer-determination and findings Contracting officers below the level of ___ shall be selected and appointed - answer-a head of a contracting activity According to the FAR conventions at Subpart 1.1, each authority is delegable unless - answer-specifi...

CON 3900 Week 3 Test Questions with Answers All Correct Where does the majority of risk fall in a firm-fixed price contract? - Answer-The contractor What is the definition of price according to FAR 15.401? - Answer-Price = Cost + any fee or profit applicable to the contract type What are the contracting officer's responsibilities with regards to price? (1 of 3) - Answer-Purchase supplies and services from responsible sources at fair and reasonable prices What are the contracting off...

COLORADO REAL ESTATE – CONTRACTS EXAM REVIEW QUESTIONS AND ANSWERS, 100% ACCURATE, GRADED A+/ "MEC" in a contract means: A. Mutual Execution of Contract B. Must Exit Contract C. Multiple Element Contingency D. Multiple Easement Criteria - -A. Mutual Execution of Contract In Contract to Buy and Sell Real Estate. Means date upon which both parties have executed contract. MEC +1 would be the date in which both parties sign, plus one day. Typically used in commercial world but not fr...

This type of insurance pays when an insured has died to offset the economic loss to dependents. A) life B) health C) annuity D) property and casualty - Life Insurance An insurance _________ is the device used by insurance companies to accumulate funds to meet uncertain losses. - Policy Insurance companies aggregate (collect) premiums to make claims payments - the aggregating of premiums to pay claims is called _____ ___________. - Risk Pooling The more _______ units an insurance company h...

Life Insurance - This type of insurance pays when an insured has died to offset the economic loss to dependents. A) life B) health C) annuity D) property and casualty Policy - An insurance _________ is the device used by insurance companies to accumulate funds to meet uncertain losses. Risk Pooling - Insurance companies aggregate (collect) premiums to make claims payments - the aggregating of premiums to pay claims is called _____ ___________. Exposure Units - The more _______ units an in...

What is a legal agreement between parties to do (performance) or not to do (forbearance) a certain act for consideration? A. A contract B. An offer C. Unilateral Agreement D. Contingency Agreement correct answersA. What law requires all contracts for real property to be in writing to be enforceable? correct answersStatute of Frauds What is an example of "good consideration"? correct answersLove of a Friend What is duress? correct answersUse of force What is it called when a per...

What is the "Bona Fide Need" Rule? - ANSWER The concept of the "legal availability" of Congressional appropriations is defined in terms of three elements - purpose, time, and amount. The Bona Fide Need rule covers the "time" aspect of legal availability and is one of the primary means of congressional control over its appropriations. The Bona Fide Need rule basically means that a federal agency must have a legitimate or "bona fide" need for the requirement during the time period that t...

Acceptance - ANSWERthe action of consenting to receive or undertake something offered agreements for deed - ANSWERa type of seller financing in which the borrower/buyer makes payments to the seller/lender until an agreed upon amount has been paid and the seller/lender then delivers the deed to the buyer breach of contract - ANSWERThe failure, without legal excuse, of a promisor to perform the obligations of a contract. Closing - ANSWERa meeting of the seller, the buyer, and the lender o...