MATCHING: -A Feature That Returns a Portion of the Premiums If

question 31

Multiple Choice

MATCHING:
-A feature that returns a portion of the premiums if the insured cancels the insurance policy or allows it to lapse

• A)nursing home
• B)assisted living facility
• C)Social Security
• D)Supplemental Security Income
• E)Medicare
• F)Medicaid
• G)long-term care insurance
• H)inflation protection
• I)nonforfeiture benefit
• J)waiver of premium payment
• K)elimination period

Recognize the legal doctrines related to the sale of goods, including the perfect tender rule, the principle of good faith, and commercial reasonableness.

Identify the warranties and conditions that can arise in sales of goods transactions both implicitly and explicitly.

Distinguish between the rights of buyers and sellers under various circumstances of breach or non-conformity of goods.

Analyze the role of custom, practice, and previous dealings in interpreting and enforcing sales contracts under the UCC.

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Definitions:

Pure Yield Pickup Swap

A strategy where an investor moves into higher-yielding securities, trading off shorter-duration or lower-quality bonds for higher yield, assuming additional risk.

Longer-Duration Bonds

Fixed-income securities with extended time frames to maturity, typically exposing investors to higher interest rate risk but potentially offering higher yields.

Shorter-Duration Bonds

Bonds with a near-term maturity date, typically less sensitive to interest rate changes and offering less yield compared to longer-duration bonds.

Yield To Maturity

The total return anticipated on a bond if it is held until its maturity date, including all interest payments and the repayment of principal.