Express contracts require - Study guides, Class notes & Summaries

CPCU 530 Practice Exam Questions and Answers common stock - Answer-An ownership interest in a corp that gives stockholders certain rights and privileges, such as the right to vote on important matters and to receive dividends preferred stock - Answer-Stock that is generally nonvoting but that has priority over common stock, usually regarding dividends and capital distribution if the corporation ends its existence Par value - Answer-An arbitrary dollar value that an organization assigns...

Life Insurance Exam (2023/2024) 100% Pass At what point must a life insurance applicant be informed of their rights to fall under the Fair Credit Reporting Act? Upon completion of the application Who elects the governing body of a mutual insurance company? Policyholders An insurance applicant MUST be informed of an investigation regarding his/her reputation and character according to the ____________. Fair Credit Reporting Act Which of the following represents multiple companies? Independent...

WFG Final Exam - Questions, Answers and Rationales (Complete Solutions) John owns an insurance policy that gives him the right to share in the insurer's surplus. What kind of policy is this? -Non-participating -Contributory -Participating -Surplus Participating policies give the policyowner the right to share in the insurer's surplus. Which of the following is NOT a benefit of insurance? -Reduces the uncertainty of loss exposures -Losses due to fraud are eliminated -Makes a loss whole again ...

CPCU 530 Practice Exam Questions and Answers common stock - Answer-An ownership interest in a corp that gives stockholders certain rights and privileges, such as the right to vote on important matters and to receive dividends preferred stock - Answer-Stock that is generally nonvoting but that has priority over common stock, usually regarding dividends and capital distribution if the corporation ends its existence Par value - Answer-An arbitrary dollar value that an organization assigns...

Contract - ANSWERS"A promise or set of promises for the breach of which the law gives a remedy or the performance of which the law is some way recognizes a duty" an agreement between two or more competent parties, to perform or refrain from performing some present or future act. Contract Law - ANSWERSReflects what promises/commitments our society believes should be legally binding. Breach of contract - ANSWERSThe failure, without legal excuse, of a promisor to perform the obligations of ...

contract - ans ---agreement between 2 or more parties -one receives consideration -one either performs OR refrains from performing an act *prevent misunderstanding In a contract, both parites are - ans --liable=obligated to PERFORM or NOT PERFORM What can a contract DO? - ans --1. require action on part of ALL PARTIES OR 2. Impose obligation on ONLY ONE PARTY Express contracts can be - ans --oral = babysitting job written=RE sale Implied contracts are created b...

Under a traditional IRA, interest is taxed: Only if withdrawn prior to age 59 1/2 According to the capital gains rate Upon distribution During the accumulation phase - ANSWER-Upon distribution Which of these statements concerning Traditional IRAs is CORRECT? Earnings are not taxable when withdrawn Earnings are taxable when withdrawn Contribution are never tax deductible Contributions are always made by the employer - ANSWER-Earnings are taxable when withdrawn Wh...

Property and Casualty Insurance Licensing Exam Questions and Answers Latest 2024 (GRADED) To prevent recovery beyond the amount of the insured's actual loss, the policy will contain: - correct answer An Other Insurance Clause Collision coverage of an auto policy covers: a) road damage to the tires b) upset of the vehicle c) frozen engine block d) falling objects - correct answer B) upset of the vehicle The maximum amount of payable for all losses resulting from one event is known as the...

Wisconsin Real Estate Exam Prep Questions and Answers Already Passed A seller signs listing contract with firm. Who is the agent who is the principal? Seller is the principal, firm is the agent. If you are the listing agent and a buyer asks you to write an offer but does not sign an agency agreement, how do you describe the buyer? Customer What kind of agency is the firm practicing if they represent just one party in a transaction? Single Agency When can a firm engage in multiple...