Pro-rata reinsurance means:
A) losses, premiums, and expenses are divided proportionately between the primary insurer and reinsurer
B) reinsurance is automatic
C) coverage is available at market rates
D) reinsurance is layered horizontally after the primary's retention
A
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Strikes, boycotts, lockouts, and plant closures are techniques used by labor or management as economic pressure in
A. the collective bargaining process. B. compulsory binding arbitration. C. negotiation preparation. D. public sector bargaining.
In their contract for the sale of window shades, Lela Window Treatments, Inc and Shane agree that Lela will have the right to replace any defective goods that are delivered to Shane. This contractual provision will not have any effect because the perfect tender rule of the UCC will control in a sale of goods transaction
a. True b. False Indicate whether the statement is true or false
A channel that includes both a manufacturers' agent and an industrial distributor is appropriate under which of the following circumstances?
A. When the firm wants specialized personnel to follow up the work of the sales force B. When the marketer wishes to enter a new geographic market but does not wish to expand the existing sales force C. When only one or two channels of distribution are available for products D. When the sales force is large and the marketer is thinking of cutting it down E. When customers are highly concentrated in one geographic area
In an employment agreement with Karl, Arnold promises to work for Karl for the rest of his life. This promise must be in writing to be enforceable
Indicate whether the statement is true or false