Please check my answers and let me know if I am correct thank you.
12. To avoid distortion of extreme values, a good indicator would be the
A. mean
B. median My answer
C. weighted mean
D. mode
13. The one named in the policy to receive the insurance proceeds in case of death of the one taking out the policy is the
A. beneficiary. My answer
B. Insurer.
C. insured.
D. both the insured and beneficiary.
14. A bond quote of 82.25 dollars is equal to
A. $822.50. My answer
B. $82.25.
C. $8.25.
D. $8,025.50.
Your answers are correct! Here's an explanation for each question:
12. To avoid distortion of extreme values, a good indicator would be the:
The correct answer is B. median.
To find the median, you arrange the numbers in order from smallest to largest. The median is the middle value. It helps avoid the influence of extreme values because it is not affected by the magnitude of those values. It provides a more representative measure of the data.
13. The one named in the policy to receive the insurance proceeds in case of death of the one taking out the policy is the:
The correct answer is A. beneficiary.
In an insurance policy, the beneficiary is the person who will receive the insurance proceeds if the insured person passes away. The beneficiary is named by the insured person when purchasing the policy.
14. A bond quote of 82.25 dollars is equal to:
The correct answer is A. $822.50.
When a bond quote is given in the format XX.XX, it represents a percentage of the face value of the bond. In this case, 82.25 is 82.25% of the face value of the bond. To find the value in dollars, you multiply the percentage by the face value. Assuming the face value of the bond is $1,000, multiplying 82.25% by $1,000 gives you $822.50.