FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Suppose that you're selling life insurance, and a 40-year-old male nonsmoker asks you for a quote on a $1 million policy for the next

image text in transcribed

image text in transcribed
5. Suppose that you're selling life insurance, and a 40-year-old male nonsmoker asks you for a quote on a $1 million policy for the next 10 years. Your coworker suggests that the rate should be based on the death rates of male nonsmokers in their 40s in the general population. Is this the most appropriate suggestion? Why or why not? Explain your answer in detail

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bank Management

Bank Management

Authors: Timothy W Koch, Steven Scott MacDonald, S Scott MacDonald

6th Edition

0324289278, 9780324289275

More Books

Students also viewed these Economics questions

Question

★★★★★
In "The Born Loser" cartoon strip, Brutus expresses joy over an increase in temperature from 1 to 2. When asked what is so good about 2, he answers, "It's twice as warm as this morning." Why is...

Answered: 1 week ago

Question

★★★★★
To validate the forecast for rapid growth in the electronic scooter market over the next 10 years, Fromm speaks to the management of Omikroon and investor relations of ZeroWheel, a competitor. Fromm...

Answered: 1 week ago

Question

★★★★★
3. Suggest that students work with grandparents to do a family memory book. Combine historical research and writing.

Answered: 1 week ago

Question

★★★★★
Write the audit approach section like the cases in the chapter. Hide the Loss under the Goodwill Gulwest Industries, a public company, decided to discontinue its unprofitable line of business of...

Answered: 1 week ago

Question

★★★★★
9.410 points) Kenny Electric Company's noncallable bonds were issued several years ago and now have 20 years to maturity These bonds have a 9.45% annual coupon, paid semiannually, sells at a price of...

Answered: 1 week ago

Question

★★★★★
S corporations are often used as the entity type for many small businesses. However, there are certain requirements that must be met to be an S corporation. This discussion explores one of these...

Answered: 1 week ago

Question

★★★★★
Kent Fuller is in the 32 percent tax bracket. A nontaxable employee benefit with a value of $1,100 would have a tax-equivalent value of: (Round your answer to the nearest whole number.) Multiple...

Answered: 1 week ago

Question

★★★★★
A zinc die casting has a critical dimension of 7.500 in when it solidifies in the mold at its melting temperature because 7.500 in is the corresponding mold dimension. What is the value of this part...

Answered: 1 week ago

Question

★★★★★
One of your colleagues is planning on changing (ie. altering the numbers) his collected data to make the data "say" what he wants the data to state. His plan is to submit the abstract to a national...

Answered: 1 week ago

Question

★★★★★
Assume food delivery firms like Swiggy are making huge profits. Higher profits may attract the entry of new firms into the food delivery industry. Explain what could be the impact of entry on the...

Answered: 1 week ago

Question

★★★★★
"This problem has such a simple solution. Why are we spending so much time discussing this? I could have been finishing my work instead of wasting my time here," thought Lamar while attending a...

Answered: 1 week ago

Question

★★★★★
Time Dilation: An astronaut travels at a speed of 0.95c away from Earth. The astronaut sends a light signal back to Earth every 1.0 s, as measured by her clock. An observer on Earth notes that these...

Answered: 1 week ago

Question

★★★★★
re word this in high school writting Self-organization is defined as complex systems of many parts tend to organize to achieve some sort of stable, pulsing state in the absence of external...

Answered: 1 week ago

Question

★★★★★
2. In this chapter, the reader should reflect on the following concepts: Social facts, concrete fallacy, constructs, overestimation error.

Answered: 1 week ago

Question

★★★★★
1. Explain the following statements: a) Objective reality is always subjectively interpreted. b) What we know depends on whom we got to know it from.

Answered: 1 week ago

Question

★★★★★
4. Give examples from your everyday life where the process affects the result, but where the result also affects the process.

Answered: 1 week ago

Previous Question Next Question