Which statement about reinstatement is false?
A. Reinstatement usually requires an application with underwriting questions, but may not require any physical exams.
B. Reinstatement requires payment of past due premium plus interest.
C. A reinstated policy's premium is based upon the insured's original age.
D. The reinstated policy is incontestable if the first time it was in force it already passed the two year mark.
Ans: D. The reinstated policy is incontestable if the first time it was in force it already passed the two year mark.
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The ______________ property tax is based on the value of land and buildings.
A) personal B) real estate C) direct D) proportional E) regressive
Suppose that a PAC bond is created assuming prepayments speeds of 80 PSA and 350 PSA. If the collateral pays at 100 PSA over its life, what will this PAC tranche's average life be?
What will be an ideal response?