Management

The role of the court is to promote the consumer's interest, while the role of the insurance ...

The role of the court is to promote the consumer's interest, while the role of the insurance ...

The role of the court is to promote the consumer's interest, while the role of the insurance commissioner is to promote the insurer's interest.
T/F?

medulla   125   2 Replies

Zy

FAIR plans guarantee insurance to all applicants.T/F?

FAIR plans guarantee insurance to all applicants.T/F?

FAIR plans guarantee insurance to all applicants.
T/F?

medulla   123   2 Replies

Zy

Suppose a manager knows she will have to fire some workers

Suppose a manager knows she will have to fire some workers

Suppose a manager knows she will have to fire some workers by the end of the month. Describe the decision-making process based on utilitarianism, rights, justice, and care.

John Mavor   120   1 Reply

habiba

Which catering market might use an off-site caterer to host a wedding?

Which catering market might use an off-site caterer to host a wedding?

Which catering market might use an off-site caterer to host a wedding?

▸ Individual social event

▸ Business group

▸ Political

▸ Religious

mdagenh1   744   2 Replies

Caity Cait

If 120 appetizers can be placed in one 12 20 2 steam table pan, how many pans need to be ...

If 120 appetizers can be placed in one 12 20 2 steam table pan, how many pans need to be ...

If 120 appetizers can be placed in one 12 ´ 20 ´ 2 steam table pan, how many pans need to be transported off site for 3,600 appetizers?

▸ 30

▸ 432

▸ 33

▸ 180

caillacakes   591   4 Replies

Ernest Goode

If you are working or have worked before

If you are working or have worked before

If you are working or have worked before, share with the rest of the class how your pay was calculated. And from your own perspective, discuss the pros and cons associated with the way your employer-paid/are paying you.

Pranshu Bansal   142   1 Reply

doubleu

Do you agree with these theories?

Do you agree with these theories?

Do you agree with these theories? If yes, can you think of one or a few examples for these theories? If not, why? Is it because they didn’t capture the full range of needs that people have? Or their approach of assessing motivation through needs is f

Pranshu Bansal   111   1 Reply

doubleu

Now we have discussed both types of theories of motivation

Now we have discussed both types of theories of motivation

Now we have discussed both types of theories of motivation, do you prefer the needs theories to the process theories or the process theories to the needs theories? According to your own experience, which one captures real life more accurately? Finall

Pranshu Bansal   130   1 Reply

doubleu

Professional reinsurance companies: (Multiple Choice)

Professional reinsurance companies: (Multiple Choice)

Professional reinsurance companies:
A) engage only in reinsurance transactions
B) make up only a small part of the reinsurance market
C) are located only in the United States
D) also act as primary insurers

keyone   175   3 Replies

Zy

Fergie is a salaried claims adjuster who works exclusively for Mutual of Kentucky Insurance. What ...

Fergie is a salaried claims adjuster who works exclusively for Mutual of Kentucky Insurance. What ...

Fergie is a salaried claims adjuster who works exclusively for Mutual of Kentucky Insurance. What kind of claims adjuster is Fergie?
A) Independent
B) Public
C) Private
D) Direct

keyone   215   2 Replies

Zy

In Jason's agency contract, the insurer authorizes him to sell insurance policies. What type of ...

In Jason's agency contract, the insurer authorizes him to sell insurance policies. What type of ...

In Jason's agency contract, the insurer authorizes him to sell insurance policies. What type of authority is this?
A) Actual
B) Express
C) Incidental
D) Both A and B

keyone   312   3 Replies

Zy

Jerry works as a claims adjuster. He is hired by insurance companies on a contract basis to adjust ...

Jerry works as a claims adjuster. He is hired by insurance companies on a contract basis to adjust ...

Jerry works as a claims adjuster. He is hired by insurance companies on a contract basis to adjust claims when they need his services. What kind of claims adjuster is Jerry?
A) Independent
B) Public
C) Private
D) Direct

medulla   222   2 Replies

Zy

When a $1 million insured loss occurs and $300,000 of the loss is reinsured, the policy holder of ...

When a $1 million insured loss occurs and $300,000 of the loss is reinsured, the policy holder of ...

When a $1 million insured loss occurs and $300,000 of the loss is reinsured, the policy holder of the primary company will receive:
A) $1 million from the primary company
B) $1,000,000 from the primary insurer and $300,000 from the reinsure

medulla   198   2 Replies

Zy

Which of the following is not a type of reinsurance arrangement?

Which of the following is not a type of reinsurance arrangement?

Which of the following is not a type of reinsurance arrangement?
A) Facultative reinsurance
B) Treaty reinsurance
C) Pro-rata reinsurance
D) Cooperative reinsurance

medulla   164   2 Replies

Zy

United Insurance Company insures Travelco for fire insurance. United reinsures 40% of this exposure ...

United Insurance Company insures Travelco for fire insurance. United reinsures 40% of this exposure ...

United Insurance Company insures Travelco for fire insurance. United reinsures 40% of this exposure with Promises Reinsurance company on a pro-rata basis. If a $400,000 insured loss occurs at Travelco, Promises Reinsurance will pay United:
A) $0

keyone   246   2 Replies

Zy

In reinsurance, the primary insurer is also known as the:

In reinsurance, the primary insurer is also known as the:

In reinsurance, the primary insurer is also known as the:
A) retrocessionaire
B) first-layer reinsurer
C) ceding company
D) excess reinsurer

keyone   149   3 Replies

Zy

All of the following statements about the claims handling function are true except:

All of the following statements about the claims handling function are true except:

All of the following statements about the claims handling function are true except:
A) overly liberal claims settlement procedures may be as bad as stingy claims settlement procedures
B) claims settlement problems are generally more complex

keyone   200   3 Replies

Zy

When a primary insurer "cedes" coverage to a reinsurer, the process is called:

When a primary insurer "cedes" coverage to a reinsurer, the process is called:

When a primary insurer "cedes" coverage to a reinsurer, the process is called:
A) reinsurance
B) automatic coverage
C) retrocession
D) cession

keyone   202   2 Replies

Zy

The insurance company accountant must apply what set of accounting principles when creating insurer ...

The insurance company accountant must apply what set of accounting principles when creating insurer ...

The insurance company accountant must apply what set of accounting principles when creating insurer financial statements for the state regulators?
A) Generally Accepted Accounting Principles
B) Statutory Accounting Principles
C) Intern

medulla   191   2 Replies

Zy

Which of the following is not a valid reason to reinsure an exposure?

Which of the following is not a valid reason to reinsure an exposure?

Which of the following is not a valid reason to reinsure an exposure?
A) To make insured exposures similar in dollar size
B) To provide the insured access to Lloyd's of London
C) To buy services from the reinsurer
D) To allow

medulla   160   2 Replies

Zy

Which of the following is not a duty of an insurance agent?

Which of the following is not a duty of an insurance agent?

Which of the following is not a duty of an insurance agent?
A) Duty to make a profit in the long run for the insurance agency and the insurer
B) Carefully handling all money and keeping proper records
C) Carefully conveying all relevan

medulla   174   2 Replies

Zy

Why is the power to bind life insurance contracts not given to agents?

Why is the power to bind life insurance contracts not given to agents?

Why is the power to bind life insurance contracts not given to agents?
A) Agents are not capable of evaluating the risks they deal with
B) This restriction minimizes fraud and misunderstanding
C) Because the agents represent the insura

keyone   246   3 Replies

Zy

Which of the following types of claims adjusters do not represent insurance companies?

Which of the following types of claims adjusters do not represent insurance companies?

Which of the following types of claims adjusters do not represent insurance companies?
A) Public adjusters
B) The insurance agent
C) The independent adjustment bureau
D) Company adjusters

keyone   214   2 Replies

Zy

Peggy's insurance agent, Skip Towne, convinces her to replace her existing health insurance policy ...

Peggy's insurance agent, Skip Towne, convinces her to replace her existing health insurance policy ...

Peggy's insurance agent, Skip Towne, convinces her to replace her existing health insurance policy with one that he claims is better. Peggy tells him that she will be glad to replace the policy if the coverage provided under the new one is the s

medulla   189   2 Replies

Zy

The independent agency system: (Multiple Choice)

The independent agency system: (Multiple Choice)

The independent agency system:
A) is doomed because agent's commissions are too high relative to direct writers
B) means the agent rather than the insurance company "owns" the business
C) is not a good career path for mo

keyone   140   2 Replies

Zy

If Fidelity Reinsurance agrees to reinsure all autos that meet the underwriting rules specified in ...

If Fidelity Reinsurance agrees to reinsure all autos that meet the underwriting rules specified in ...

If Fidelity Reinsurance agrees to reinsure all autos that meet the underwriting rules specified in the contract with the primary insurer, this type of arrangement is:
A) an automatic treaty
B) individually negotiated
C) excess of loss

medulla   131   2 Replies

Zy

The first step in the underwriting process is:

The first step in the underwriting process is:

The first step in the underwriting process is:
A) the desk underwriter review
B) the agent's field appraisal
C) the general agent's confidential report
D) the inspection report from Equifax or similar investigator

medulla   126   2 Replies

Zy

Which of the following is not a duty of an actuary?

Which of the following is not a duty of an actuary?

Which of the following is not a duty of an actuary?
A) Calculate rates
B) Calculate dividends
C) Calculate loss reserves
D) Identify individual exposures that are going to have a loss

keyone   129   3 Replies

Zy

Insurance agents must never give clients legal advice.T/F?

Insurance agents must never give clients legal advice.T/F?

Insurance agents must never give clients legal advice.
T/F?

medulla   134   2 Replies

Zy

The Medical Information Bureau maintains information on people who have taken medical examinations ...

The Medical Information Bureau maintains information on people who have taken medical examinations ...

The Medical Information Bureau maintains information on people who have taken medical examinations in connection with the purchase of life insurance.
T/F?

medulla   158   2 Replies

Zy

Mathematicians specializing in insurance statistics are called "actuaries."T/F?

Mathematicians specializing in insurance statistics are called "actuaries."T/F?

Mathematicians specializing in insurance statistics are called "actuaries."
T/F?

medulla   111   2 Replies

Zy

An agency contract determines the rights and duties of both the agent and the insurer.T/F?

An agency contract determines the rights and duties of both the agent and the insurer.T/F?

An agency contract determines the rights and duties of both the agent and the insurer.
T/F?

keyone   151   2 Replies

Zy

Brokers generally stand in the same position as life insurance agents with respect to the legal ...

Brokers generally stand in the same position as life insurance agents with respect to the legal ...

Brokers generally stand in the same position as life insurance agents with respect to the legal power to bind the insurer to a life insurance contract.
T/F?

medulla   133   2 Replies

Zy

The brokerage function does not exist in life insurance sales.T/F?

The brokerage function does not exist in life insurance sales.T/F?

The brokerage function does not exist in life insurance sales.
T/F?

keyone   135   3 Replies

Zy

Reinsurance transactions do not occur in life insurance.T/F?

Reinsurance transactions do not occur in life insurance.T/F?

Reinsurance transactions do not occur in life insurance.
T/F?

medulla   116   2 Replies

Zy

Most states require licensed insurance agents to be at least age 18, to have good morals, and to ...

Most states require licensed insurance agents to be at least age 18, to have good morals, and to ...

Most states require licensed insurance agents to be at least age 18, to have good morals, and to pass an examination.
T/F?

medulla   126   2 Replies

Zy

You have provided your friend with a service worth $8,500. Your friend offers you the following cash ...

You have provided your friend with a service worth $8,500. Your friend offers you the following cash ...

You have provided your friend with a service worth $8,500. Your friend offers you the following cash flow instead of paying $8,500 today. Should you accept his offer if your opportunity cost is 8 percent?

mantparn   2473   3 Replies

Cassie T1

Are you currently working? Or have you worked before?

Are you currently working? Or have you worked before?

Are you currently working? Or have you worked before? If you are or did, how would you describe your attitudes toward that job and why? How did that attitude affect you?

Pranshu Bansal   89   1 Reply

habiba

If the seafood restaurant that added the Calabash-style preparation were a fine dining establishment ...

If the seafood restaurant that added the Calabash-style preparation were a fine dining establishment ...

[html]If the seafood restaurant that added the Calabash-style preparation were a fine dining establishment with white tablecloths, subdued lighting, and soft jazz music, what customer consideration did menu planners fail to consider?

▸ Concept or br

victor.m.rojas2   510   3 Replies

Sanjay Kumar1

How well did you do in the cultural intelligence assessment?

How well did you do in the cultural intelligence assessment?

How well did you do in the cultural intelligence assessment? What is your profile like? Based on your own experience, to what extent do you think the profile is reflective of your true cultural intelligence?

Pranshu Bansal   76   1 Reply

habiba