What are self-insurance and risk transfer?
What will be an ideal response?
Answer: Self-insurance is the practice in which a company sets aside money to cover losses with its own funds. Risk transfer is the practice whereby a company transfers its risk to an insurance company in return for a fee.
Explanation: Most companies supplement their self-insurance with special insurance policies ("catastrophic" policies) to cover large losses.
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There is often tension between objectives of increasing market share and increasing profits because:
A) some of the activities required to increase share lower profit margins and increase costs. B) market share and profits cannot be increased simultaneously. C) market penetration strategy, an effective strategy to increase share, usually results in negative earnings. D) market share is a prerequisite to increase in profits.
________ are courts that hear matters of a specialized or limited nature
A) General-jurisdiction trial courts B) Inferior trial courts C) Intermediate appellate courts D) Chancery courts
A person represented by a representative agent is known as the principal
Indicate whether the statement is true or false
With reference to the Fourth Amendment to the U.S. Constitution, which of the following statements is true about search warrants?
A) Evidence that is seized by a police officer without having a search warrant is permitted in court. B) To obtain a warrant to search, the property owner must have been previously convicted. C) The items sought must be described in the search warrant. D) A search warrant is issued by a senior police officer.