Author Question: Laura's medical insurance policy includes a 500 deductible. Laura is required to pay 20 percent of ... (Read 583 times)

joblessjake

  • Hero Member
  • *****
  • Posts: 555
Laura's medical insurance policy includes a 500 deductible. Laura is required to pay 20 percent of covered expenses in excess of the deductible, and her insurer will pay 80 percent of covered expenses in excess of the deductible.
 
  Laura was hospitalized and her covered medical expenses were 10,500. How much of the 10,500 will be paid by the insurer?
  A) 7,500
  B) 7,900
  C) 8,000
  D) 10,000

Question 2

ABC Company insured its building on a replacement cost basis for 700,000 under a property insurance policy that included an 80 percent coinsurance clause.
 
  The building had a replacement cost of 1 million when it sustained a 40,000 loss. How much will ABC Company receive from its insurer, assuming no deductible applies?
  A) 33,333
  B) 35,000
  C) 36,000
  D) 40,000



fraziera112

  • Sr. Member
  • ****
  • Posts: 356
Answer to Question 1

Answer: C

Answer to Question 2

Answer: B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Of the estimated 2 million heroin users in the United States, 600,000–800,000 are considered hardcore addicts. Heroin addiction is considered to be one of the hardest addictions to recover from.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

For a complete list of videos, visit our video library