Elaine signs an application for a $50,000 life policy, pays the first premium, and receives a conditional receipt. If Elaine were killed in an auto accident 2 days later,
A) her beneficiary would receive $50,000, if Elaine qualified for the policy as applied for
B) the premium would be returned to Elaine's family because the policy had not been issued
C) the insurer could reject the death claim because the underwriting process was never completed
D) the company could reject the application on the basis that the death was accidental "
Answer: A) her beneficiary would receive $50,000, if Elaine qualified for the policy as applied for
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For its fiscal year, the King Pharmaceutical Company reported sales of $10,500,000, cost of goods sold of $6,300,000, and net income of $525,000. The company's gross profit ratio for the year is:
A. 40% B. 60% C. 5% D. 20%
Why did press secretary Jerald ter Horst resign from his post with President Gerald Ford?
A) He did not believe that President Ford should have pardoned Richard Nixon. B) He was suffering from serious health problems. C) He could not stand with President Ford during impeachment hearings. D) He accepted a position with a high-profile lobbying firm.