If a Bond Is Quoted in the Newspaper at 88

question 78

Multiple Choice

If a bond is quoted in the newspaper at 88.75, the current price of a $1,000 face value bond is:

• A) $75.00.
• B) $88.00.
• C) $88.75.
• D) $887.50.
• E) $1,000.00.

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Definitions:

Insurance Broker

A professional intermediary who acts on behalf of clients to find and arrange appropriate insurance coverage from insurers.

Independent Contractor

is an individual who provides services to another entity under terms specified in a contract or agreement, without being legally considered an employee.

Liability Coverage

Insurance that provides protection against claims resulting from injuries and damage to people and/or property.

Homeowner's Insurance

A type of property insurance that covers losses and damages to an individual's house and assets in the home.