1. Alvin Hersey, age 44, purchased a $90,000, 5-year term life insurance policy. Calculate his annual premium. After three years, what is his cash value?
2. Gracie Lantz, age 44, purchased an $80,000 straight life policy. Calculate her annual premium.
3. If after 15 years Gracie (Problem No. 2) wants to surrender her policy, what options and what amounts are available to her?
4. Calculate the total annual premium of a building that has an area rating of 1 with a building classification A. The value of the building is $90,000, with contents valued at $40,000.
5. If the insured in Problem No. 4 cancels at the end of month 8, what is the cost of the premium and the refund?
6. If in Problem No. 5 the insurance company cancels at the end of month 8, what is the cost of the premium and the refund?
7. Ring insures a building for $160,000 with 80% coinsurance cause. The replacement value is $400,000. Assume a loss of $90,000 from fire. What will the insurance company pay?
8. Calculate the annual premium of Phil Smool who lives in territory 5 and is a classified driver18, has a car with age 5 and symbol 2. His state has compulsory insurance and Phil wants to add the following options:

   1. Bodily injury, 500/1000
   2. Damage to someone else's property, 25M
   3. Collision, 100 deductible
   4. Comprehensive, 300 deductible
   5. Towing

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