If Required Reserves Are $150 and Deposits Are $1,000, What

question 246

Multiple Choice

If required reserves are $150 and deposits are $1,000, what is the required reserve ratio?

• A) 10 percent
• B) 15 percent
• C) 5 percent
• D) 85 percent

Understand the methods of compensation and valuation in insurance claims.

Grasp the concepts and importance of negligence in insurance.

Recognize strategies for risk reduction and their implications.

Understand the principles of insurance replacement value and how it applies to personal property losses.

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Definitions:

Product Liability Theories

Legal doctrines that hold manufacturers, distributors, suppliers, retailers, and others who make products available to the public responsible for the injuries those products cause.

Load-Carrying Capacity

The maximum weight that a structure or vehicle can safely carry or support.

Implied Warranty

A legal concept that guarantees certain conditions or features are present in a product or service, even if not explicitly stated.

Operation of Law

Changes in legal rights or obligations that occur automatically due to established laws, rather than the actions or agreements of individuals.