Personal insolvency Study guides, Revision notes & Summaries

Insurance The transfer of risk through a legal contract Property Covers real property and personal property against damage or loss resulting from covered causes of loss called perils casualty covers non-property losses (3rd Party) Personal lines Insurance for families and individuals Commercial Lines Insurance for Business Risk Uncertainty of financial loss Pure Risk Chance of loss only (insurance only covers) Speculative Risk Chance of lo...

LAW 3 Study Practice Test. Bankruptcy and Insolvency Act (BIA) - correct answer Applies to all except banks, insurance, trust, railways, agriculture companies When is someone insolvent - correct answer A person is insolvent when their debts exceed their assets or meet their liabilities as they come due What are the two methods to entering into bankruptcy - correct answer Assignment by the debtor (voluntarily) or an application by creditor (involuntarily) Bankruptcy creditor proposal ru...

What is the procedure regarding change of address for a licensee? - CORRECT ANSWER-The commissioner must be notified immediately of any change in the personal, business, or email address. What is the punishment for a person who refuses to deliver books, records, or assets to the commissioner when subject to a seizure order in an insolvency proceeding? - CORRECT ANSWER-Not more than $1000 fine and/or 1 year imprisonment An agent or representative who issues long term care insurance must NO...

BUL 3310 Exam 4 FSU Bailey - Questions and Answers (Complete Solutions) Phil has a 1/4 partnership interest in Green & Sons. He has been denied access to the partnership books and records for over a year and he suspects that one of the partners has been engaging in secret business transactions using partnership funds. Phil wants to know the status of the business. Phil's remedy in this situation is to go to a court of equity for an ______________. Charging order Marshalling order Accounting De...

Property and Casualty insurance exam questions and answers rated A Insurance The transfer of risk through a legal contract Property Covers real property and personal property against damage or loss resulting from covered causes of loss called perils casualty covers non-property losses (3rd Party) Personal lines Insurance for families and individuals Commercial Lines Insurance for Business Risk Uncertainty of financial loss Pure Risk Chance of loss only (insurance only covers) Speculative ...

balance sheet equation A-L=NW 4 categories of assets liquid assets, investments, real property, personal property liquid assets cash, checking/savings accts, money mkt deposit accts, money mkt mutual funds, and CD's maturing within 1 year investments financial assets, business ownership, cash value of life insurance/pensions, IRA's/401k's, commodities, futures & options real property land and everything fixed to it - appreciates personal property movea...

This revision document is for the core BLP unit featured on the LPC. It is a comprehensive revision manual that strives to offer notes that are both clear and useful. Given that they summarise important subject areas that are frequently thoroughly evaluated on the LPC, these notes will be an extremely helpful revision aid. These are my own notes, and using them has helped me in the past to achieve a high distinction.

Illinois State Law Property/ Casualty insurance LAW, Illinois Casualty Insurance Exam Review, Statutes and Regulations Casualty Insurance Illinois, Property & Casualty IL Law, IL Casualty Insurance Practice Test Questions, (Verified Answers)(Full Solution Pack) DOI time frame for hearing after cease and desist order 20 to 30 days Producer fine for cease and desist violation 100/day up to 5000 Producer fine per violation for refusal to obey unfair trade practice cease and desist order 1,000...

Every owner of a motor vehicle registered in NV must continuously provide proof of financial responsibility, which may be provided in any of the following forms: correct answers *liability insurance *certificate of financial responsibility *certificate of self-insurance As defined by the Nevada Insurance Code, casualty insurance includes, but isn't limited to the following types of coverages: correct answers *vehicle insurance *liability insurance *workers compensations and employer's ...

On which Schedule would a self-employed farmer report their income and loss? - correct answer -Schedule F What types of income are reported on Schedule E (Form 1040)? - correct answer -Income from rental real estate, royalties, partnerships, S corps, trusts, and estates. What are some situations that make discharged debt non-taxable? - correct answer -(1) bankruptcy (2) insolvency (3) amounts cancelled as a gift or bequest (4) certain student loan cancellations (5) qualified principal resi...