1. What is the premium for insuring a plate-glass window for $250 at % ?

2. The underwriters agree to insure a house for $3500 for five years at 1%. Find the premium.

3. The face of a

policy is $1800; the premium, $22.50. What is the rate of insurance?

4. A farmer insured his house for $2200 at %, and his barn and stock for $1900 at 11%. What was the premium?

5. Mr. Armstrong insures his house for $3000 against fire for five years, paying a premium of $22.50. Find the rate of insurance.

6. Mr. Lane insured his horse for $850 at 60 cents per $100. What was the premium?

7. What premium will insure the safe shipment of 600 barrels of flour worth $5.80 per barrel if the rate is %?

8. A dealer in agricultural implements has a stock of goods worth $15,000 which he insures for 80% of its value at %. Find the premium.

9. On May 1, 1910, Mr. Edward L. Blaisdell insured his house for $2750 at %. On July 4, 1911, the house was burned. On July 30, 1911, the insurance company

sent a check to Mr. Baisdell for his insurance. What was the amount of the check? What was the loss to the company?

10. A storehouse is insured for $12,000 in each of two companies. If the building is damaged by fire to the extent of of the insured value, how much ought each company to pay, one company being liable for two-thirds of the loss?

11. Mr. Quinn paid 75 cents to secure the safe delivery of a package in New York. If the rate was 1%, what value was placed on the package?

12. A cargo of wheat valued at $7600, and insured for of its value at 23%, was lost at sea. What was the loss

to the owners? To the underwriters?

13. At %, Mr. Wilbur paid a premium of $18 for insuring his property for of its value. Find the face of the policy. Find the value of the property.

14. A business block is insured for $16,000 in one company, for $18,000 in another, and for $20,000 in a third. If the building is damaged by fire to the extent of 40% of the insurance, what amount will each company pay to the owner?

1. Find the annual cost of a life-payment policy for $5000, issued at age 30. (See table of rates on following page.)

2. If a man takes out a 20-payment life policy for $5000, at age 30, what is the annual premium? How much will he pay in 20 years?

3. What is the annual premium on a 10-year term policy for $10,000, at age 50?

TABLE OF LIFE INSURANCE RATES

Premiums per $1000 Insurance. American 3% Reserve. Particip

ting Plan.

To find semi-annual rates, multiply annual rates by .51. For quarterly rates, multiply annual rates by .26.

4. What is the annual cost of a 20-year endowment policy for $3000, issued at age 25? How much will the insured pay in 20 years? How much less than the face of the policy will he pay?

5. Find the cost of a single-payment life policy for $2500, at age 35?

6. What is the semi-annual premium for a life-payment policy for $1000, at age 45? The quarterly premium?

7. Find the total cost of a 30-year endowment policy for $5000, at age 25.

8. Find the total cost of a 20-year payment life policy for $3500, at age 30.

ACCIDENT INSURANCE

Written

1. Mr. Shattuck owns a policy in Class A. He falls on the sidewalk and suffers total disability for 8 weeks. How much does the company pay him for loss of time? (See table of rates on following page.)

2. Mr. Aldrich sprains his ankle while going down cellar and suffers partial disability for 2 weeks 3 days. How much will the company pay him?

TABLE OF ACCIDENT INSURANCE RATES AND

INDEMNITIES

Annual Cost, based on occupation: Class A, $25; Class B, $35; Class C, $42.50; Class D, $55

WEEKLY INDEMNITY FOR LOSS OF TIME

Paid IN ADDITION TO THE WEEKLY INDEMNITY
FOR ORDINARY ACCIDENTS

Paid if Assured is injured while engaged in the insured occupation, or in any of the ordinary duties or pleasures of life.

FOR TRAVEL OR SPECIAL

ACCIDENTS

Paid if Assured is injured while passenger on railroad, steamboat, or elevator, by burning building, explosion, lightning, etc.

3. Mr. Carter, insured in Class B, lost his arm by a boiler explosion, and was totally disabled for 32 weeks. Find his total indemnity.

TAXES

Towns, cities, counties, and states raise money to pay their expenses by means of a tax.

The people in town meeting or through their representatives determine what expenses shall be incurred, and the sum of money to be raised to meet them. Taxes thus levied are chiefly of two kinds:

1. A poll tax. individual.

This is a tax levied directly upon an

In most states, every male citizen over 20 years of age is subject to this tax.

2. A property tax. This is a tax levied upon an individual's property.

For purposes of taxation, property is separated into two classes:

1. Property easily movable, such as money, stocks, bonds, furniture, cattle, etc. This is known as personal property.

2. Property not easily movable, such as lands, buildings, railroads, etc. This is known as real property or

real estate.

Persons appointed to estimate the value of property for purposes of taxation and to determine the amount each person is to pay, are assessors.

The estimated value of the property on which the tax is to be levied is the valuation.

Property is usually estimated at a little less than its actual value.

The rate of taxation is always a certain per cent of the valuation.

If the amount to be raised is equal to .016 of the valuation, the rate is spoken of as 16 mills on a dollar, or $1.60 on a hundred dollars, or $16 on a thousand dollars, or1% % of the valuation.

1. A tax of 1% % is what amount on $1? On $100? On $1000?

2. What is the rate of taxation when the tax is $2 per $100? $25 per $1000? 18 mills per $1?