Reference no: EM132781869

Question 1: Which of the following is true of coinsurance?

A. It allows the insured to pay an extra premium initially in exchange for a guaranteed option to buy more insurance at certain specified times later.

B. It's a provision under which the insurer and the insured share costs, after the deductible is met, according to a specific formula.

C. It's rarely found in property insurance policies.

D. It excuses the insured from paying premiums if he or she becomes disabled.

Question 2: Evan gives Zeke $200 to buy tickets for Evan and his girlfriend to attend a rock concert. Instead, Zeke spends the money to purchase video games. Evan finds out and wants to know if Zeke can be charged with a crime. Zeke has committed

A. no crime, but can be sued in civil court.

B. embezzlement.

C. robbery.

D. larceny.

Question 3: Vernon owns a family-run farming business. He earned $100,000 in the current financial year. He owes $70,000 that he cannot pay. This debt forms a part of his farm expenses to creditors, but he wants to keep the business running. Which type bankruptcy should Vernon file for?

A. Chapter 7 and Chapter 12

B. Chapter 11 and Chapter 7

C. Chapter 7 only

D. Chapter 12