2. Mary buys a woodburning stove for her cabin in the mountains. She remembers that when...

2. Mary buys a woodburning stove for her cabin in the mountains. She remembers that when she originally purchased homeowners insurance for the cabin, the insurance agent asked if she had a woodburning stove, because woodburning stoves increase the risk of fire. At that time, she correctly answered no. Now, she must decide whether to inform her insurance agent about the new stove. Would you advise her to inform the insurance agent? Explain why and what would be the consequence if she does not inform her agent.

Expert Solution

Answer: - By analysing the above situation mary should notify the insurance agent about the newly bought woodenburning stove because during the time of insurance to cabin the agent asked about the woodenburning stove only because of high risk by it to the cabin. According to the risk mangement if mary do not expose the informtion regarding the stove it may leads to terminate or cancle the contract due to misrepresentation of information. When risk occur due to fire by stove burning the cabin accidentally, at the time of claiming homeowners insurance the amount may decreased due to false information.

keosha answered 2 years ago

*Mary estimated that she will have $300,000 in her savings account when she retires in 2030....

*Mary estimated that she will have $300,000 in her savings account when she retires in 2030. Suppose that Mary has estimated that she would need $25,000 per year to live comfortably during her retirement. How long can Mary expect to make withdrawals during retirement before she will have depleted her account if she is earning 5% annually?

3. Mary goes to the doctor and pays for her visit. When she gets home, she...

3. Mary goes to the doctor and pays for her visit. When she gets home, she must fill out a form and submit it to the insurance company so she can be reimbursed. What type of insurance does she most likely have? A. HMO B. POS C. Indemnity D. The Blues

Que : Mary buys and sells ladies' handbags. She buys for cash and sells on one...

Que : Mary buys and sells ladies' handbags. She buys for cash and sells on one month's credit. She pays £20 for each bag and sells them for £35 each. During March, her first month of trading, she bought 50 handbags for cash and had 10 handbags remaining in inventory at the month end. Ignoring any other expenses or payments, which of the following statements is true for March? Select one: a. The business made a gross profit for the...

When Mary began experiencing paresis and spasticity in her lower extremities, she knew that something was...

When Mary began experiencing paresis and spasticity in her lower extremities, she knew that something was seriously wrong. She was finally diagnosed as having a form of relapsing remitting multiple sclerosis. An MRI performed during one of her more severe “episodes” revealed lesions (lower left) that appeared to improve after three months (lower right). Her neurologist explained that all of her previous episodes could be explained by the underlying cause of this disease. Mary learned that the progression of this...

50) In pricing her line of Smart Phone Cases, Lucie Loo remembers hearing that she needs...

50) In pricing her line of Smart Phone Cases, Lucie Loo remembers hearing that she needs to consider three decisions with respect to pricing her product line. She seems to remember that one decision is to identify the lowest-priced product and set the price to drive traffic. Another decision she needs to make is to identify the highest priced product and position it as her premium offering. What is the third decision Lucie needs to make? estimate the total Economic...

Jane returned to work when her husband deserted her and their 2 sons. She is a...

Jane returned to work when her husband deserted her and their 2 sons. She is a bitter angry person but still tries to better herself by taking classes at a local college. She reads voraciously and watches movies that are easy to find since they are low on the Netflix queue. Group of answer choices late majority innovator early adopter early majority laggard Kristina is elegant. Although in her 30's, she looks 21. She is self-assured, weight-conscious, and a trendy...

Mary has her own business, a nail salon that she runs out of her home.She is...

Mary has her own business, a nail salon that she runs out of her home.She is the only nail technician but serves many clients in one day. The following tables provide information about time between arrivals and service time required for a manicure. Assume the only service offered is a manicure. Time Between Arrivals Probability Random Numbers 10 min .2 00-19 20 min .3 20-69 30 min .2 70-89 40 min .3 90-99 Service Time Probability Random Numbers 10 min...

If Mary bought another machine, she could increase her production capacity to 2 500 curtains. Repayments...

If Mary bought another machine, she could increase her production capacity to 2 500 curtains. Repayments on the machine would be R700 per month, and she would need an extra member of staff, costing R1 000 per month. She would also have to pay a bonus to all staff of 50 cents per pair of curtains, over and above their current wages, and variable production overheads would increase by 30 cents per pair of curtains. In order to increase...

Michelle spends all her money on food and clothing. When the price of clothing decreases, she buys more clothing.

Michelle spends all her money on food and clothing. When the price of clothing decreases, she buys more clothing.In the diagram to the right, the substitution effect is defined by the movement from point :a. A to Bb. A to Cc. B to Cd. C to DMichelle spends all her money on food and clothing. When the price of clothing decreases, she buys more clothing. In the diagram to the right, the substitution effect is defined by the movement from...

Mary Barra started working at General Motors when she was a teenage intern in 1980. She...

Mary Barra started working at General Motors when she was a teenage intern in 1980. She started on the factory floor as an inspector. She held many jobs across GM, including executive assistant, head of internal communications, executive director of North American vehicle operations, VP of Global HRM, Senior VP for Global Product Development, and finally, in 2014 CEO. When she took over as CEO at General Motors, Mary Barra surprised people when she began the process of transforming GM...

Question