A producer takes an individual Disability Income application, collects the appropriate premium, and issues the prospective insured a conditional receipt. The next step the insurance company will take is to
What will be an ideal response?
With a conditional receipt, the insurance company will complete standard underwriting procedures before making a decision about whether to insure the applicant.
You might also like to view...
The following covenants are extracted from the indenture for McMorris Industries' 20 year-bond. The indenture provides that failure to comply with its terms in any respect automatically advances the due date of the loan to the date of noncompliance. REQUIRED: Assume that each of these is an independent scenario and identify the audit steps that should be taken or reporting requirements necessary
in connection with (a) through (d). a. The debtor company shall endeavor to maintain a working capital ratio of 2.5 to 1 at all times, and, in any fiscal year following a failure to maintain this ratio, the company shall restrict compensation of the CEO and executive officers to a total of no more than $1,000,000 . Executive officers for this purpose shall include the chairman of the board of directors, the president, all vice presidents, the secretary, and the treasurer. b. The debtor company shall insure all property that is security for this debt against loss by hurricane to the extent of 90% of its actual value. Insurance policies securing this protection shall be filed with the trustee. c. The debtor company shall pay all taxes legally assessed against the property that serves as security for this debt within the time provided by law for payment without penalty and shall deposit receipted tax bills or equally acceptable evidence of payment of same with the trustee. d. A sinking fund shall be established and deposited with the trustee by semiannual payments of $450,000, from which the trustee shall, at his/her discretion, purchase bonds of this issue.
Answer the following statements true (T) or false (F)
With SFAS No. 95 defining funds as cash, the FASB has moved from a position of rigid uniformity to a flexibility orientation.
Which of the following is the first important decision involved in determining pay levels and designing pay structures?
A. constructing an internal pay policy line that reflects external pay policy B. designing the survey C. specifying the employer's external pay policy D. defining the purpose of the compensation survey E. choosing relevant market competitors to survey
Sending a thank-you message following an interview is a professional courtesy, but unnecessary if you thank the interviewer before departing from the interview
Indicate whether the statement is true or false