For questions 1-10, fill in the blank with the letter of the term that best matches the description.
a coverage
b. insurance
c. policy
d. risk management
e. actuary
f. insurer
g. liability
h. claim
i. premium
j. deductible

1.) An arrangement by which a company gives customers financial protection against loss or harm in return for payment.
2.) Determining, minimizing, and preventing accidental loss in a business, for example, by taking safety measures and buying insurance.
3.) The company that sells insurance
4.) The amount of money charged for a certain amount of insurance coverage
5.) The amount an insured person must pay before making a claim against an insurance policy before an insurer will pay any compensation.
6.) The amount or type of protection provided by an insurance policy
7.) A statistician who calculates insurance premiums, risks, dividends, and annuity rates.
8.) A fixed dollar amount of coverage for damages than an insured becomes legally liable to pay due to an accident or other negligence.
9.) An application for payment under an insurance policy
10.) A contract of insurance

Winners of the georgia lotto drawing are given the choice of receiving the winning amount divided equally over 2121 years or as a lump-sum cash option amount. the cash option amount is determined by discounting the annual winning payment at 88% over 2121 years. this week the lottery is worth $1616 million to a single winner. what would the cash option payout be?

Fabian got into an accident on his way to work. he had multiple fractures in his leg. his doctor advised strict bed rest for at least three months.fabian is a freelance wildlife photographer who usually works on a contract basis, and this is his primary source of income. before the accident, fabian was planning his finances. which goal of his financial plan would fabian in getting through without pay for the next three months? the goal that requires the creation of a/an would fabian get through the next three months without pay.

Milden company has an exclusive franchise to purchase a product from the manufacturer and distribute it on the retail level. as an aid in planning, the company has decided to start using a contribution format income statement. to have data to prepare such a statement, the company has analyzed its expenses and has developed the following cost formulas: cost cost formula cost of good sold $35 per unit sold advertising expense $210,000 per quarter sales commissions 6% of sales shipping expense ? administrative salaries $145,000 per quarter insurance expense $9,000 per quarter depreciation expense $76,000 per quarter management has concluded that shipping expense is a mixed cost, containing both variable and fixed cost elements. units sold and the related shipping expense over the last eight quarters follow: quarter units sold shipping expense year 1: first 10,000 $ 119,000 second 16,000 $ 175,000 third 18,000 $ 190,000 fourth 15,000 $ 164,000 year 2: first 11,000 $ 130,000 second 17,000 $ 185,000 third 20,000 $ 210,000 fourth 13,000 $ 147,000 milden company’s president would like a cost formula derived for shipping expense so that a budgeted contribution format income statement can be prepared for the next quarter. required: 1. using the high-low method, estimate a cost formula for shipping expe