Under a life insurance policy, what does the insuring clause state?
A) The agent's obligation to provide the proper amount of coverage
B) The insurer's obligation to return all premiums upon an approved death claim
C) The insurer's obligation to pay a death benefit upon an approved death claim
D) The agent's obligation to pay a death benefit upon an approved death claim
Ans: C) The insurer's obligation to pay a death benefit upon an approved death claim
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Luca was a professional classical guitar player until a motorcycle accident left him disabled
After long months of therapy, he hired an experienced luthier and started a small shop to make and sell Spanish guitars. The guitars sell for $700, and the fixed monthly operating costs are as follows: Rent and utilities $810 Wages and benefits to luthier 2,500 Other expenses 480 Luca's accountant told him about contribution margin ratios, and Luca understood clearly that for every dollar of sales, $0.60 went to cover his fixed costs, and anything above that point was profit. Luca is planning to increase the sales price to $750. What impact will the increase in sales price have on the contribution margin ratio? A) It will stay the same. B) It will increase to 53.33%. C) It will increase to approximately 62.67%. D) It will decrease to approximately 49.33%.
Value, real or _______, can equally be based on intangible.
A. observed B. superficial C. perceived D. imagined E. implicit