ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The standard maximum Income Replacement Benefit payable under O.A.P. 1 Owner's Policy "Section 4 - Accident Benefits Coverage" is $400 per week for the first 104 weeks. The actual amount payable is based on which one (1) of the following? OA) 70% of Gross Income. OB) 80% of Gross Income. OC) 70% of Net Income. OD) 80% of Net Income.
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Transcribed Image Text:The standard maximum Income Replacement Benefit payable under O.A.P. 1 Owner's Policy "Section 4 - Accident Benefits Coverage" is $400 per week for the first 104 weeks. The actual amount payable is based on which one (1) of the following? OA) 70% of Gross Income. OB) 80% of Gross Income. OC) 70% of Net Income. OD) 80% of Net Income.
Which one (1) of the following statements best defines a "mortgagor"? OA) It is the one who owes the money. OB) It is the one to whom the money is owed. OC) It is the insurer who must pay the money in the event of a claim. OD) It is the document which shows the amount of money owed.
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Transcribed Image Text:Which one (1) of the following statements best defines a "mortgagor"? OA) It is the one who owes the money. OB) It is the one to whom the money is owed. OC) It is the insurer who must pay the money in the event of a claim. OD) It is the document which shows the amount of money owed.
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Step 1: Introduce the concept of income replacement benefit
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Step 2: Clarify the calculation method
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Step 3: Determine the correct percentage from the options
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Step 4: Introduce the concept of mortgages and related terms
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Step 5: Differentiate between mortgagor and mortgagee
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Step 6: Identify the correct definition of mortgagor
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