Misstatement - Study guides, Class notes & Summaries

Which law requires the applicant be notified before a consumer report is ordered: - Fair Credit Reporting Act The Insuring Clause of an A&H policy usually states all of the following, EXCEPT: A. That insurance against loss is provided B. That a loss must result directly from stated accidents or sicknesses C. The method of premium payment D. The identities of the insurance company and the insured - C. The method of premium payment Which of the following statements about Medicare is/are tru...

Participating Insurance Policy - Answer-may pay dividends to the policyowner Material Misrepresentation - Answer-misstatement to a question asked in the application process; death benefit claim will likely be denied Law of Large Numbers - Answer-the larger a group becomes, the easier it is to predict losses; used to predict certain types of losses and set appropriate premiums Substandard Risk - Answer-results in higher premium Standard Risk - Answer-results in standard premium Preferred R...

Test Bank For Auditing And Assurance Services, 17th Edition, Alvin A Arens, Randal J Elder, Mark S Beasley, Chris E Hogan. Table of Contents: PART 1: THE AUDITING PROFESSION The Demand for Audit and Other Assurance Services The CPA Profession Audit Reports Professional Ethics Legal Liability PART 2: THE AUDIT PROCESS Audit Responsibilities and Objectives Audit Evidence Audit Planning and Materiality Assessing the Risk of Material Misstatement Assessing and Responding to Fraud Risks I...

Under the misstatement of age or gender provision, what happens if it is determined at death that the insured's age or gender was misstated on a life insurance policy application? - Benefits are adjusted to an amount that the premium would have purchased at the correct age or gender. Which of the following must be given to the insurer within 20 days after occurrence or commencement of any loss covered by the policy, or as thereafter as is reasonably possible? - Notice of claim. When will a...

Mandatory Uniform Provisions - Answer- Must be included in every individual accident policy, no additional provisions may be included which otherwise restrict or modify a uniform provision, designed to protect the insured's interest Entire Contract Clause- Mandatory Uniform - Answer- Includes the policy and provisions, c a copy of the application and any riders, waivers, or endorsements Time Limit on Certain Defenses-Mandatory Uniform - Answer- No statement or misstatement may be contested afte...

Barbara's policy includes a rider which allows her to purchase additional insurance at specific dates or events without evidence of insurability. This rider is called a(n) Answers>>Guaranteed insurability rider A guaranteed insurability rider allows for the insured to purchase additional insurance at specific dates or events without evidence of insurability. Disability Income plans which require that the insurer can NEVER change or alter premium rates are usually considered Answers&...

Copyright © 2022 WILEY Kieso, Intermediate Accounting, 18/e, Solutions Manual (For Instructor Use Only) 5-1-1 Complete Solution Manual and Instructor Resource for Intermediate Accounting, 18th Edition 18th Edition, by Donald E. Kieso, Jerry J. Weygandt and Terry D. Warfield. ISBN- Chapter 1 Financial Accounting and Accounting Standards Assignment Classification Table (By Topic) Topics Questions Brief Exercises Exercises Critical Thinking 1. Environment of accounting, principles, ...

Assertion correct answer: Statement or representation, explicit or implicit, made by management regarding the recognition, measurement, presentation, and disclosure of items included in the financial statements and notes Relevant assertion correct answer: An assertion that has a reasonable possibility of containing a material misstatement or misstatements that would cause the financial statements to be materially misstated and, therefore, has a meaningful impact on whether the account is fa...

AUI2601 ASSIGNMENT 2 SEMESTER 1 2023 () 100% TRUSTED workings, explanations and solutions. For assistance call or whatsapp us on +25479 811 9845 . REQUIRED MARKS Q1. With reference to the “background” information: 1.1 State whether the appointment of SSSA as auditors of ASM complies with Section 91 of the Companies Act. Describe in your answer the procedures that should have been followed to ensure compliance with the Companies Act. (5) 1.2 Explain why ASM needs to have their finan...

PSI - LIFE, ACCIDENT, AND HEALTH –FULL| Questions and Answers, 100% Verified| Latest 2023/2024 PSI - LIFE, ACCIDENT, AND HEALTH – FULL| Questions and Answers, 100% Verified| Latest 2023/2024 What happens under a misstatement of age clause on a disability policy? 1. The policy would be terminated and all premiums would be returned to the policy owner. 2. The policy would be terminated and all premiums would be retained by the insurance company. 3. All amounts payable under t...