Ben's Office Building with $200,000 Value Has a Rating Area

question 105

Multiple Choice

Ben's office building with $200,000 value has a rating area of 1 with a building class of B. The contents are valued at $90,000. Using the table lookup, what is the total annual premium for both?

• A)$108.00
• B)$486.00
• C)$820.00
• D)$1,306.00
• E)None of these

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Definitions:

Dividend

A dividend is a payment made by a corporation to its shareholders, usually as a distribution of profits.

Treasury Stock

Shares that were once part of the outstanding shares of a company but were later reacquired and are held in the company’s treasury.

Common Stock

A form of corporate equity ownership, a type of security that represents ownership of a fraction of a corporation, entitling the holder to a share of the company's profits.

Retained Earnings

Refers to the portion of net income left over for the business after it has paid out dividends to its shareholders.