A Homeowner Insured a House for $150,000 for One Year

question 46

Short Answer

A homeowner insured a house for $150,000 for one year at a premium rate of $5.00 per thousand. The homeowner canceled the policy during the year. The insurance company has a penalty of 15% for short-rate refunds. Compute the amount of the penalty.​

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Definitions:

Job Descriptions

Documents or statements that outline the tasks, duties, functions, and responsibilities of a specific job position.

Hidden Job Market

Employment opportunities that are not advertised publicly and are typically found through networking, referrals, or direct contact with employers.

Referral Interviews

Interviews conducted with individuals recommended by others, often used for gathering information or networking.

Information Interviews

Interviews conducted to gather information about a job, career field, industry, or company culture, not necessarily tied to a job opening.