Explain pure, speculative and fundamental risks.

An apartment building in Ithaca, New York with 72 units was financed with a $7.2 million non-recourse first mortgage loan at a 3.6% annual interest rate and an additional $3.6 million fully recourse second mortgage loan at a 7.2% annual interest rate. The owner later borrowed another $720,000 with a fully recourse third mortgage loan at a 10.8% annual interest rate. The borrower ultimately found itself in financial distress and unable to make the monthly mortgage payments on the three outstanding mortgage loans and the property went into foreclosure. What happens to the claims of the second and third mortgage lenders if the foreclosure lawsuit by the first mortgage lender includes all junior mortgage lenders and the property is sold to an unrelated third party for a net price of $6.6 million at the foreclosure sale? a. The mortgage liens of the junior claimants and the loan amounts owed to them are unaffected by the foreclosure sale b. The mortgage liens of the junior claimants are…

Explain the importance of Army property accountability and securing issued in essay format?

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Skip and Jack are the shareholders of the Blue Fish Event Corporation. Skip and Jack regularly put on classy events on or near the beach, so they have a special insurance policy to protect their assets. Business has been slow as fewer large beach weddings are taking place, so Skip and Jack use a large fan to blow down and damage most of their décor assets, some of which were personal assets of Skip and Jack, to collect the insurance benefits. (a) Assuming their acts are proven, will a court allow Skip and Jack to recover the insurance money? (b) Is this a situation where the corporate veil may be pierced? Why or why not? (c) What would it mean for Skip and Jack if the corporate veil is pierced in this situation?

Hyde is a broker involved in a conflicting demands settlement procedure that has already begun. The escrow funds are held in an attorney's escrow account. Hyde seeks an EDO from the FREC. How will the FREC likely respond? The FREC will not issue an EDO because the funds are in an attorney's escrow account. The FREC will issue an EDO within ten business days. The FREC will issue an EDO if the other three settlement procedures don't work. The FREC will not issue an EDO because the dispute must be settled

In 2012, Angela took out a $15,000 loan against the cash surrender value of her whole life insurance policy. The funds were required to help pay for remodeling and redecorating her home. As a consequences of taking out the loan Angela had to report $3,000 of policy gain in 2014. She repaid $5,000 of the loan at the end of 2015, as well as paying the $600 of loan interest due for the year. What were the tax consequences to Angela and the policy as a result of the 2015 payments? A. She will be able to deduct $5,600 from her taxable income for 2015 ad the ACB of the policy will increased by $2,000. B. She will be able to deduct $3,000 from her taxable income for 2015 and the ACB of the policy will increase by $2,600. C. She will not be able to claim any deduction from her taxable income for 2015 and the ACB of the policy will increase by $5,650. D. She will be able to deduct $3,600 from her taxable income for 2015 and the ACB of the policy will increase by $2,000

Your client insures his/her condominium unit under a Condominium Unit Owner Comprehensive policy, subject to a $300 Deductible. The common areas of the building suffer severe damage that is not covered by the Condominium Corporation's insurance. The loss is covered, however, under your client's policy. The Condominium Corporation assesses each unit owner $2,500 to cover the damage. Twenty percent (20%) of the unit owners are uninsured. How much would your client's policy pay under these circumstances? OA) Nothing. OB) $2,200.00 OC) Eighty percent (80%) of $2,500. OD) $2,500.00

What is the purpose of the "Pair and Set" clause in a Property insurance policy? OA) It obliges the insurer to pay a total loss if any item of a pair or set of items is lost or damaged. OB) It limits the liability of the insurer to not more than 25% of the total value of a pair or set that is lost or damaged. OC) It protects the insurer from having to pay for a total loss when only part of a pair or set is lost or damaged. OD) It warrants that earrings of precious or semi-precious stones are properly set in their mounting, failing which no loss will be paid by the insurer.

Senator Bang Ga is suing Hanabishi Motors, the manufacturer of its car, the Hanabishi Ferrero, for Php 3.5 million because of Sudden Unintended Acceleration, a defect it thinks has caused it bulldozing over 12 cars in a mall carpark building and eventually "jumping" out of the 5th floor of the carpark building. This accident kept it out of work for a year. Hanabishi has offered it a settlement of Php 700,000, of which Bang would receive Php 600,000 after attorneys' fees. Atty. Larry Gadon, its legal counsel, has advised it that it has a 50% chance of winning its case. If it loses, it will incur attorneys' fees and court costs of Php 75,000. If it wins, it is not guaranteed its full requested settlement. Atty. Gadon believes that there is a 50% chance it could receive the full settlement, in which case Bang would realize Php 2 million after its attorney takes his cut, and a 50% chance that the jury will award it a lesser amount of Php 1 million, of which Bang would get Php 500,000.…