It is currently 17 Oct 2017, 04:53

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

How much commission did an agent receive on the sale of a

Author Message
Manager
Joined: 16 May 2004
Posts: 118

Kudos [?]: 13 [0], given: 0

Location: Thailand
How much commission did an agent receive on the sale of a [#permalink]

Show Tags

22 May 2004, 07:23
00:00

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions

HideShow timer Statistics

This topic is locked. If you want to discuss this question please re-post it in the respective forum.

How much commission did an agent receive on the sale of a 3-year policy insuring a school building against fire?

(1) The school building had a market value of \$90,000 and the agent's commission was 18 percent of each yearly premium.
(2) The rate charged for the policy was \$0.38 for each \$100 of fire insurance coverage.
_________________

Exceed your goals and then Proceed to Succeed!!

Kudos [?]: 13 [0], given: 0

Manager
Joined: 10 Mar 2004
Posts: 64

Kudos [?]: [0], given: 0

Location: Dallas,TX

Show Tags

22 May 2004, 08:20
combined i guess so (c)

Not sure though.

Kudos [?]: [0], given: 0

SVP
Joined: 30 Oct 2003
Posts: 1788

Kudos [?]: 112 [0], given: 0

Location: NewJersey USA

Show Tags

25 May 2004, 10:52
These are wierd questions.
If the building is insured for what it is worth now then C is sufficient. If How much it is insured is not known then the answer is E. Because it is possible that the policy may just cover \$50000 worth of damage. I am sure GMAT will never have such questions.

Kudos [?]: 112 [0], given: 0

25 May 2004, 10:52
Display posts from previous: Sort by