The Time of Payment of Claims provision states that the intes vols between Di OA two weeks one month three months six months B. OC COD. Cub 29 685 619 best payments muy NOT GRIS
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- Coleman An office meander purchases an incivil Desafilty Income policy Will a Chonger & Onapanon provision the sher Laves you as a construction worke notify the ivanance company of his change in Gezuputiom in the event of a cuina, the innance company will NOST kely: OA pary Owsbrity fathe Same on what the premium cand wracid brave puratat in coverage in a construction worker pay a higher Bowlity berait amount as the inanmeh higher coming out the copolyn OC tay the ability ferramenta stated in the guilty dute guy the claim since the insurance company was at aotifler of the inmedts chongs in occupation15. The annual increase diene cash duander value of a life insurance policy: a. Is taxed when the individual dies and the heirs collect the insurance proceeds. b. Must be included in gross income each year under the original issue discount rules. c. Reduces the deduction for life insurance expense. d. Is not included in gross in ych y sach year because of the substantial restrictions on gaining access to the policy's value.An insured is omployed by a manufacturing company that provides group nowth coverage for les employees and now dependents. It the insured insured's spouse and children to continue their group health coverage for a maxaman of how many months according to COBRA? A C OD 36 18 12 6
- The purpose of the coordination of benefits (COB) provision, found only in group th plans, & avoid the duplication of benefit payments and overnance OA ensure that patients receive necessary care determine pollent payment responsibility require Insurance companies to pay dairns in a timely manner B. ос COD.The Time of Payment of Claims provision requires that an insurance company pay Disability Income benelit, no less frequently than A annually OB semiannually quarterly OD monthly C.CARLA sold her cow to IZA forP40,000.00. No date or conditionwas stipulated for the delivery ofthe cow. While still in possessionof CARLA, the cow gave birth totwo (2) calves. Who has the rightto the 2 calves? Explain
- D7/84 ◦ The sequence in determining the taxability of interest income of an FI: Consider s.14(1) first If not chargeable under s.14(1), then consider s.15(1)(i) ◦ Interpretation on s.15(1)(i): (a) if the place where the funds are made available is a factor in determining source under s.14; and (b) if under s.14 it is decided that the interest is not subject to Hong Kong tax Then the matter must be viewed again under s.15(1)(i) but this time the place where the funds were provided is to be disregarded as a factor in determining the source of the interest It is talking about Hong Tax, Special Business, Calculating profit tax of financial instituition, loan interest income. Can you explain above paragraph in a simple way and with simple example?12. Promises to make charitable contributionsa. are exempted from the necessity of considerationb. are not legally enforceablec. are based on promissory estoppeld. may not be valid unless large sums of money are involvedLoan interest income ▸ D7/84 The sequence in determining the taxability of interest income of an Fl: . Consider s.14(1) first If not chargeable under s.14(1), then consider s.15(1)(i) Interpretation on s.15(1)(i): (a) if the place where the funds are made available is a factor in determining source under s.14; and (b) if under s.14 it is decided that the interest is not subject to Hong Kong tax Then the matter must be viewed again under s.15(1)(i) but this time the place where the funds were provided is to be disregarded as a factor in determining the source of the interest 77
- Flag for Re An individual health insurance policy contains a Change of Occupation provision. If the inaired experiences a loor in a more acres option than when the polky was issued, the insurance company may: OA adjust benefits to the amount the premium provides for the new conigation OB. increase the waiting period to adjust for the occupational difference deny any claim on the back of thisrepresentation increase the deductible to adjust for the coupational difference OC OD.6 if an insured dies during the grace period of a life insurance policy before paying the required annual premium the beneficiary will receive 1 A the cash value of the policy, if any B the full-face amount of the policy C the face amount of the policy less an required premiums D a refund of any premiums paidExplain business p lanning andtts three levels