A bene?t of PowerPoint is that it can be used for both oral and hard-copy proposal presentations

What information is contained in the insuring agreement of an insurance policy?

A) a description of the property or life to be insured B) a summary of the major promises of the insurer C) a summary of the obligations of the insured D) a list of the property, losses, and perils that are not covered

Which of the following statements regarding arbitrage and security prices is INCORRECT?

A) We call the price of a security in a normal market the no-arbitrage price for the security. B) In financial markets it is possible to sell a security you do not own by doing a short sale. C) When a bond is underpriced, the arbitrage strategy involves selling the bond and investing some of the proceeds. D) The general formula for the no-arbitrage price of a security is Price(security) = PV (all cash flows paid by the security).