Question

In: Finance

1. An example of open-end credit is a.automobile loans b.installment sales credit c.mortgage loans d.revolving check...

1. An example of open-end credit is

a.automobile loans

b.installment sales credit

c.mortgage loans

d.revolving check credit

11. Which of the following is an example of a conventional mortgage?

a.	an FHA mortgage
	b.	a buy down
	c.	a fixed rate mortgage
	d.	a shared appreciation mortgage
	e.	a home equity loan

13. Health insurance typically includes

deductibles

out-of-pocket limits

co-payments

all of the above

15.

Disability is defined as

a.	unable to do regular work
	b.	unable to do any work
	c.	both a and b
	d.	none of the above

16.

Basic health coverage includes

a.	hospital expense
	b.	dental expense
	c.	major medical expense
	d.	all of the above

18.

Risk assumption is the same as

risk avoidance

risk reduction

risk sharing

none of the above

Solutions

Expert Solution

1. An example of open-end credit is mortgage loans as there are specific open end mortgage loans available so correct option will be (C) mortgage loans

Automobile loans and revolving check credit are closed ended loans.

11. .An example of conventional mortgage is (C) Fixed Rate Mortgage as it is a traditional and conventional method of mortgage .

FHA mortgage is not a conventional mortgage and home equity loans, Buy down are highly nonventional.

So correct answer will be option (C) Fixed Rate Mortgage

13.Health care insurance includes out of pocket limits, deductible and Co-payments.

So the correct option will be (D) All of the above

15.Disability is defined as unable to do any work or some specific work.

So the correct option will be (C) Both A and B

16.Basic health coverage includes Hospital expense, Dental expense, and major medical expenses so all of the options given is correct.

So the correct option Is (D) All of the above

18.Risk assumption is used in defense to a personal injury suit .It reduces the amount and bars the recovery of damages by aggrieved party on the assumption that He or she acted in good faith without the appropriate knowledge of risk.

Risk avoidance ,Risk sharing, and Risk Reduction are complete different concepts as they focus over elimination of risk and management of the same.

So the correct option is (D)None of the above

jeff jeffy answered 1 year ago

Next > < Previous

Related Solutions

What are the essential differences among working capital loans, open credit lines, asset-based loans, term loans,...

What are the essential differences among working capital loans, open credit lines, asset-based loans, term loans, revolving credit lines, interim financing, project loans, and acquisition loans? Support your answer with relevant example drawn from the industry, or research literature from academia.(Your answer for each question should be between 500 to 700 words)

What are the essential differences among working capital loans, open credit lines, asset-based loans, term loans,...

What are the essential differences among working capital loans, open credit lines, asset-based loans, term loans, revolving credit lines, interim financing, project loans, and acquisition loans? Support your answer with relevant example drawn from the industry, or research literature from academia. Your answer for question should be between 500 to 700 words.

how is a credit check in the advanced technology system fundamentally different from a credit check...

how is a credit check in the advanced technology system fundamentally different from a credit check in the basic technology system?

Credit Card Number Check. The last digit of a credit card number is the check digit,...

Credit Card Number Check. The last digit of a credit card number is the check digit, which protects against transcription errors such as error in a single digit or switching two digits. The following method is used to verify actual credit card number but, for simplicity, we will describe it for numbers with 8 digits instead of 16: Starting from the rightmost digit, form the sum of every other digit. For example, if the credit card number is 43589795, then...

Credit Card Number Check. The last digit of a credit card number is the check digit,...

Credit Card Number Check. The last digit of a credit card number is the check digit, which protects against transcription errors such as an error in a single digit or switching two digits. The following method is used to verify actual credit card numbers but, for simplicity, we will describe it for numbers with 8 digits instead of 16: • Starting from the rightmost digit, form the sum of every other digit. For example, if the credit card number is...

Credit Card Number Check. The last digit of a credit card number is the check digit,...

Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding...

Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $ 120,000 $ 99,000 $ 97,000 Credit sales 120,000 118,800 106,700 Total $ 240,000 $ 217,800 $ 203,700 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are...

impco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding...

impco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $ 140,000 $ 115,000 $ 105,000 Credit sales 140,000 138,000 115,500 Total $ 280,000 $ 253,000 $ 220,500 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are...

Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding...

Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $ 100,000 $ 120,000 $ 80,000 Credit sales 100,000 150,000 90,000 Total $ 200,000 $ 270,000 $ 170,000 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are...

Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding...

Timpco, a retailer, makes both cash and credit sales (i.e., sales on open account). Information regarding budgeted sales for the last quarter of the year is as follows: October November December Cash sales $ 105,000 $ 87,000 $ 91,000 Credit sales 105,000 104,400 100,100 Total $ 210,000 $ 191,400 $ 191,100 Past experience shows that 5% of credit sales are uncollectible. Of the credit sales that are collectible, 60% are collected in the month of sale; the remaining 40% are...

Subjects