The property and liability insurance industry fluctuates between periods of increasing insurance rates and tight underwriting standards,
and decreasing insurance rates and loose underwriting standards. Profitability in the industry follows these cyclical movements. What is this pattern of fluctuations called?
A) the claims cycle
B) the underwriting cycle
C) the business cycle
D) the accounting cycle
Answer: B
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Under the team awards type of group incentive, cost savings is excluded as a performance measure.
Answer the following statement true (T) or false (F)
If a bank compounds savings accounts quarterly, the effective annual rate will exceed the nominal rate.
Answer the following statement true (T) or false (F)
An opinion leader is an individual
A. who exerts direct or indirect social influence over others. B. who is able and willing to cut red tape and move an organization's marketing program forward. C. within an organization who influences decision-making. D. who is able to use moral suasion to get others to comply with the latest trends. E. in an organization who encourages other paid individuals to forward marketer-initiated messages to others via e-mail, social networking websites, and blogs.
The United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards is commonly referred to as the ________ Convention
A) New York B) Paris C) London D) Munich