Posted: December 9th, 2022

# Jay miller insured his pizza shop

Question 1
Jay Miller insured his pizza shop for \$200,000 for fire insurance at an annual rate per \$100 of \$0.49. At the end of 10 months, Jay canceled the policy since his pizza shop went out of business. By using the table in the handbook, the refund to Jay is __________.

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\$980
\$852.60
\$127.40
\$186.20

Question 2
Al Roy bought five bonds of Jort Co. 11 3/4 at 93.25 and four bonds of Inst. System 12×08 for 81.125. If the commission on the bonds is \$2.50 per bond, the total cost of all the purchases is __________.

\$4,662.50
\$3,425.00
\$7,930.00
\$7,907.50

Question 3
Al Smith, who lives in Territory five, carries 10/20/5 compulsory liability insurance along with optional collision that has a \$300 deductible. Al, who was at fault in an accident, caused \$4,000 damage to the other auto, as well as \$900 damage to his own. Also, the courts awarded \$15,000 and \$7,000 respectively to the two passengers in the other car for personal injuries. Al is responsible to pay a total of:

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\$5,000
\$5,600
\$2,000
\$5,300

Question 4
Bill Jones buys a fishing rod that sells for \$70 subject to a 6% sales tax and an excise tax of 10%. The total amount Bill paid for the rod is __________.

\$77.00
\$74.20
\$81.20
\$75.00

Question 5
Randy Smith bought 180 shares of a mutual fund with a NAV of \$14.85. This fund has a load charge of 6%. What is the offer price?

\$17.54

\$15.47
\$15.74
\$17.45

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