10. Which of the following statements concerning FAIR plans is correct? A. Coverage in each state...

10. Which of the following statements concerning FAIR plans is correct?

A. Coverage in each state is usually written by a syndicate of private insurers that are assessed for any losses of the plan if premiums are inadequate.

B. They primarily insure property that fails to meet current building codes.

C. They are federal plans that operate identically in every state.

D. They are designed primarily for high-value residential property.

11. Which of the following standard, unendorsed homeowners policy forms provides the broadest coverage for a free-standing single-family residence and its contents?

A. H0-2 Broad Form

B. H0-5 Comprehensive Form

C. H0-6 Unit-owners Form

D. H0-8 Modified Coverage Form

Expert Solution

1) Solution: Coverage in each state is usually written by a syndicate of private insurers that are assessed for any losses of the plan if premiums are inadequate

Explanation: The coverage in FAIR Plans in each state is often written by a syndicate of private insurers who assess the losses of the plan in case the premiums are inadequate. They are designed to assist people to obtain property insurance.

2) Solution: H0-5 Comprehensive Form

Explanation: H0-5 Comprehensive Form unendorsed homeowners policy forms that gives the wide coverage for a free-standing single-family residential status.

Rahul Sunny answered 2 years ago

1. Which of the following statements concerning Medicare prescription drug coverage is correct? A. It is...

1. Which of the following statements concerning Medicare prescription drug coverage is correct? A. It is a voluntary plan with a monthly premium that may be waived for persons with very low incomes. B. It eliminates the need for formularies by covering all prescription drugs. C. It has a $1,000 annual deductible, after which all drug costs are paid in full. D. It prohibits employers from providing prescription drug benefits to retirees. 2. An organization that has not gained approval...

Which of the following statements concerning rules that apply to 401(k) plans is (are) correct? I....

Which of the following statements concerning rules that apply to 401(k) plans is (are) correct? I. The results of the ADP test can limit the available salary deferrals for the highly compensated employees. II. A plan must pass both the 1.25 ADP and the 2.0 ADP tests in order to not be in violation of regulations. Group of answer choices II only I only Neither I not II Both I and II

Which of the following statements concerning the eligibility requirements of insured disability income plans is correct?...

Which of the following statements concerning the eligibility requirements of insured disability income plans is correct? A. Short-term plans sometimes limit eligibility to salary employees only. B. Long-term plans often limit eligibility to union employees only. C. Most plans require an employee to be actively at work before coverage will commence. D. Short-term plans tend to have longer probationary periods than do long-term plans.

1.) Which of the following statements concerning defined-contribution plans that integrate with Social Security is correct?...

1.) Which of the following statements concerning defined-contribution plans that integrate with Social Security is correct? Annual non-discrimination testing is required for a plan that integrates with Social Security. If employees receive a contribution of 3% of total compensation, then an additional 3% of total compensation can also be contributed for compensation between the integration level and the income cap. The maximum integration level is $275,000. Only money-purchase pension plans can have a formula that integrates with Social Security. 2.)...

Which of the following statements concerning funding policy and objectives is (are) correct? IDefined-benefit plans are...

Which of the following statements concerning funding policy and objectives is (are) correct? IDefined-benefit plans are required to adopt a funding policy, but it is optional for defined-contribution plans. IIIn defined-contribution plans, the objective may be to offer investment vehicles so that participants can make up their own portfolios. (A)I only(C)Both I and II (B)II only(D)Neither I nor II

Which of the following statements concerning the coverage of collapse of the dwelling under an unendorsed...

Which of the following statements concerning the coverage of collapse of the dwelling under an unendorsed Homeowners 3 policy is true? (Points : 1) a. There is no coverage for collapse, regardless of the cause of the collapse. b.Collapse is covered if it is caused by one of the Coverage C perils. c. If collapse is caused by an earthquake, the loss is covered. d. There is no coverage for collapse unless the proper endorsement is added to the policy.

Which of the following statements is correct concerning a SIMPLE plan?

1 Which of the following statements is correct concerning a SIMPLE plan?A SIMPLE plan has more complex administration than a 401(k).A SIMPLE plan has only a few options for employer matching percentages, while a 401(k) has no limit to the matching percentage.A SIMPLE is best used with a large to medium sized company.Both SIMPLE plans and 401(k)s permit plan loans.2 An employer can sponsor both a SIMPLE and a money-purchase pension plan.TrueFalse

Which one of the following statements is correct concerning these loans?

First Bank offers personal loans at 7.6 percent compounded monthly. Second Bank offers similar loans at 7.75 percent compounded semi-annually. Which one of the following statements is correct concerning these loans?Group of answer choicesThe First Bank loan has an effective rate of 7.67 percent.The Second Bank loan has an effective rate of 8.03 percent.The annual percentage rate for the Second Bank loans is 7.90 percent.Borrowers should prefer the loans offered by Second Bank.The First Bank offers the best deal on...

Which of the following statements is NOT correct concerning the Cash Budget?

Which of the following statements is NOT correct concerning the Cash Budget? A) The Cash Budget builds on earlier budgets and schedules as well as additional data. B) The Cash Budget should be prepared before the Budgeted Income Statement. C) The Cash Budget should be prepared before the Budgeted Balance Sheet. D) It is not necessary to prepare any other budgets before preparing the Cash Budget

Which of the following statements concerning typeps of reactions is correct? A. The reactant in a...

Which of the following statements concerning typeps of reactions is correct? A. The reactant in a decomposition reaction must be a compound B. The reactants in a combination reaction must be elements C. the reactants in a double replacement reaction may either be compounds or elements D. More than one above is correct

Question