An important distinction between valid insurance contracts and wagering contracts is that:
A. unlike insurance contracts, wagering contracts are indemnity contracts.
B. insurance contracts transfer existing risks, while wagering contracts create new ones.
C. wagering contracts are not contrary to public policy, while insurance contracts are.
D. insurance contracts create a new risk that did not previously exist, while wagering contracts don't.
Answer: B
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Which sentence is punctuated correctly?
A) Invitations to the meeting must be sent to Jill Harrison, president, XMI Technologies, Bill Kolstad, CEO, Watson Manufacturing, and Ron Keys, sales consultant, Hotbot Solutions. B) Invitations to the meeting must be sent to Jill Harrison, president, XMI Technologies; Bill Kolstad, CEO, Watson Manufacturing; and Ron Keys, sales consultant, Hotbot Solutions. C) Invitations to the meeting must be sent to Jill Harrison; president, XMI Technologies, Bill Kolstad; CEO, Watson Manufacturing, and Ron Keys; sales consultant, Hotbot Solutions.
If the bond market undergoes a large change in yield (for example, more than 100 basis points), then a bond's duration will
A) understate both the price appreciation when rates fall and the price decline when rates increase. B) overstate both the price appreciation when rates fall and the price decline when rates increase. C) overstate the price appreciation when rates fall and understate the price decline when rates increase. D) understate the price appreciation when rates fall and overstate the price decline when rates increase.
The terms "progressive tax" and "flat tax" are synonymous.
Answer the following statement true (T) or false (F)
Grandpa owns a farm. In a signed writing, Grandpa gave Sue the irrevocable right to use a road on his farm so that Sue could more easily reach her own property. What kind of interest in land did Grandpa give to Sue?
A. easement by grant B. easement by implication C. reserved easement D. easement by prescription