Bret obtains a fire insurance policy on his rental house with Continental Insurance Company. Like all insurance, this policy is an arrangement for
A. avoiding the assumption of responsibility.
B. predicting a potential loss based on unknown factors.
C. shifting the imposition of liability.
D. transferring and allocating risk.
Answer: D
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A catalog retailer of kitchen items observes that during some weeks it sells 40 muffin pans, and during other weeks it sells none. A reorder takes up to three weeks. The probability of running out of pans and alienating its customers can be alleviated by maintaining
A. cycle stock. B. hidden inventory. C. backup stock. D. lead stock. E. non-ledgered stock.
In a manufacturing firm, employees typically fill out two different documents regarding their time worked. What are they? Why are there two?
Logical consistency may be let go for the sake of brevity
Indicate whether the statement is true or false
Bert had his driver's license suspended by the state department of transportation. He believes his constitutional due process rights were violated by the administrative agency. Can he immediately file a court action to have agency's actions reviewed?
a. Yes. A court has the jurisdiction to immediately review an agency's alleged unconstitutional action. b. Yes. Bert must specifically allege his constitutional rights have been violated and file a court action in federal court - not a state court. c. No. Bert must first exhaust all possible appeals within the agency itself before he seeks judicial review by a court. d. No. A court of law does not have jurisdiction to review an administrative agency's actions.