In a defined contribution plan,

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In a defined contribution plan,

A. The benefit is known and the contribution is unknown
B. The contribution and the benefit are unknown
C. The contribution and the benefit are known
D. The contribution is known and the benefit is unknown

Answer: D. The contribution is known and the benefit is unknown

Medical Plans

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

Jim has been arrested for drunk driving. In order to be allowed out of jail before his court date, Jim will most likely need:

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James is the insured on a life insurance policy where his age was misstated on the application. Which of the following is CORRECT regarding the death benefit amount?

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The pro rata liability clause is designed to protect the principle of
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Life insurance policies will normally pay for losses arising from
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In an insurance contract, the applicant's "consideration" is the
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The voluntary relinquishment of a legal right is called
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The pro rata liability clause is designed to protect the principle of
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