Business, 07.01.2021 18:20 radazharula1

1. Allen was driving home when a deer jumped out. The deer damaged his truck. 2. A lightning strike at Troy’s home damages his TV and DVD player.
3. ABC Insurance Inc. advises Katie that she cannot take out a policy on Brad Pitt.
4. Adam’s job is deciding if the insurer will accept a risk and what the cost will be.
5. Amy decides not to purchase a new car because insurance is so expensive.
6. Bill is paid for a collision claim based on the book value of his vehicle.
7. Cheetum’s Body Shop padded the repair bill for Chris’s pick up.
8. Janet hit a car and someone was hurt. This covers the medical expenses.
9. Keith let the auto insurance policy lapse. Keith rear-ended Ann’s truck today.
10. Missy owes for damage to John’s car because she hit him while talking on her cell.
11. Monica’s life insurance costs more but includes a savings component.
12. Pat insures his business partner, Chuck, with a $1 million life insurance policy.
13. Rob gets a bill in the mail from ABC Insurance Company for $125.
14. Ross contacted this business when he had an automobile accident.
15. Tammy hit a telephone pole and did over $2000 damage to her car.
16. This requires Joe to buy liability insurance prior to getting a license plate.
17. Thomas shut the trunk on his thumb and went to the emergency room.
18. Tony and Chris staged an auto accident to collect claim benefits.
19. Wanda’s car was damaged by hail during a storm.
20. An ambulance transported Melanie to the hospital after the other car crossed the center line and caused a wreck.

a. Actual Cash Value
b. Bodily Injury Liability
c. Collision
d. Comprehensive
e. Financial Responsibility Law
f. Homeowner’s
g. Insurable Interest
h. Insurance Company/Insurer
i. Insurance fraud
j. Insured
k. Joint Insurance
l. Medical Payments
m. Premium
n. Property Damage Liability
o. Renter’s
p. Risk management
q. Underwriter
r. Uninsured and Underinsured Motorist
s. Whole Life

Answers: 3

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Answers

Answer from: Graciouzgigi1394

Identify each word that represent each situation

1. Collision is when Allen was driving home when a deer jumped out. The deer damaged his truck.

2. A lightning strike at Troy’s home damages his TV and DVD player is called Property Damage Liability

3. ABC Insurance Inc. advises Katie that she cannot take out a policy on Brad Pitt. This is called Insurance Company/Insurer

4. Risk management occurs when Adam’s job is deciding if the insurer will accept a risk and what the cost will be.

5. Amy decides not to purchase a new car because insurance is so expensive. This is called Renter’s

6. Premium is the Bill paid for a collision claim based on the book value of his vehicle.

7. Insurance fraud is when Cheetum’s Body Shop padded the repair bill for Chris’s pick up.

8. Janet hit a car and someone was hurt. This covers the medical expenses. This is refered to as Bodily Injury Liability

9. Uninsured and Underinsured Motorist is when Keith let the auto insurance policy lapse. Keith rear-ended Ann’s truck today.

10. Comprehensive : Missy owes for damage to John’s car because she hit him while talking on her cell.

11. Premium: Monica’s life insurance costs more but includes a savings component.

12. Whole Life: Pat insures his business partner, Chuck, with a $1 million life insurance policy.

13. Premium: Rob gets a bill in the mail from ABC Insurance Company for $125.

14. Insurance Company/Insurer: Ross contacted this business when he had an automobile accident.

15. Property Damage Liability: Tammy hit a telephone pole and did over $2000 damage to her car.

16. Financial Responsibility Law: This requires Joe to buy liability insurance prior to getting a license plate.

17. Medical Payments: Thomas shut the trunk on his thumb and went to the emergency room.

18. Insurance fraud: Tony and Chris staged an auto accident to collect claim benefits.

19. Property Damage Liability: Wanda’s car was damaged by hail during a storm.

20. Bodily Injury Liability: An ambulance transported Melanie to the hospital after the other car crossed the center line and caused a wreck.

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Answer from: mikkelf6158

Matching Situation with appropriate term:

1. _c. Collision __ Allen was driving home when a deer jumped out. The deer damaged his truck.

2. _n. Property Damage Liability _ A lightning strike at Troy’s home damages his TV and DVD player.

3. _h. Insurance Company/Insurer _ ABC Insurance Inc. advises Katie that she cannot take out a policy on Brad Pitt.

4. _p. Risk management _ Adam’s job is deciding if the insurer will accept a risk and what the cost will be.

5. __o. Renter’s __ Amy decides not to purchase a new car because insurance is so expensive.

6. __m. Premium _ Bill is paid for a collision claim based on the book value of his vehicle.

7. __i. Insurance fraud _ Cheetum’s Body Shop padded the repair bill for Chris’s pick up.

8. _b. Bodily Injury Liability _ Janet hit a car and someone was hurt. This covers the medical expenses.

9. _r. Uninsured and Underinsured Motorist _ Keith let the auto insurance policy lapse. Keith rear-ended Ann’s truck today.

10. _d. Comprehensive _ Missy owes for damage to John’s car because she hit him while talking on her cell.

11. _m. Premium_ Monica’s life insurance costs more but includes a savings component.

12. _s. Whole Life__ Pat insures his business partner, Chuck, with a $1 million life insurance policy.

13. __m. Premium__ Rob gets a bill in the mail from ABC Insurance Company for $125.

14. __h. Insurance Company/Insurer _ Ross contacted this business when he had an automobile accident.

15. _n. Property Damage Liability _ Tammy hit a telephone pole and did over $2000 damage to her car.

16. _e. Financial Responsibility Law __ This requires Joe to buy liability insurance prior to getting a license plate.

17. __l. Medical Payments __ Thomas shut the trunk on his thumb and went to the emergency room.

18. __i. Insurance fraud_ Tony and Chris staged an auto accident to collect claim benefits.

19. _n. Property Damage Liability_ Wanda’s car was damaged by hail during a storm.

20. _b. Bodily Injury Liability_ An ambulance transported Melanie to the hospital after the other car crossed the center line and caused a wreck.

Explanation:

Appropriate terms:

a. Actual Cash Value

b. Bodily Injury Liability

c. Collision

d. Comprehensive

e. Financial Responsibility Law

f. Homeowner’s

g. Insurable Interest

h. Insurance Company/Insurer

i. Insurance fraud

j. Insured

k. Joint Insurance

l. Medical Payments

m. Premium

n. Property Damage Liability

o. Renter’s

p. Risk management

q. Underwriter

r. Uninsured and Underinsured Motorist

s. Whole Life

Answer from: Quest

the answer is either c or b, i cant be to sure tho.

Answer from: Quest

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.

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