Josh was recently killed in a car crash, and he was survived Anthony, Patricia, and Francine; his father, Bert; and his brothers, Tim and Jack. Josh never bothered to draft a will because he wanted Cindy to receive everything in the event of his death. Josh lived in a province that has a preferential share of $40,000, a spousal distributive share of one third, with the remainder going to the issue of the deceased in equal shares per stirpes. Josh's estate was valued at $98,000. How much will Patricia inherit? his wife, Cindy; his adult children a) $0 b) $24,500 $12,889 d) $14,500

Warren is 50 years of age, married, and has a good job. To protect his family against a decrease in their standard of living in the event of his death, he purchased a whole life insurance policy with a $100,000 death benefit. His insurer expects

Warren to live for 28 years, and interest rates are currently 4.75%. Which of the following statements about Warren's policy is true?

a) The premium rate on the policy will increase annually to reflect changes in Warren's health.

b) Warren would pay an annual premium of about $1,700 on the policy, excluding administration fees, taxes and commissions.

c) The initial premium payments on the policy are less than the payments required to pay for the pure risk of death.

d) Warren's annual mortality costs in later years will be less than the premiums paid each year.