Which of the following statements about judgment rating is true?
A) It involves the manual rating of exposures.
B) It is used when the loss exposures are so diverse that a class rate cannot be calculated.
C) It is a form of experience rating.
D) It is only used when credible loss statistics are available.
Answer: B
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Which of the following is true?
A) A will can never be revoked. B) A will can never be changed. C) Everyone dies with a will. D) A will can be revoked.
A simple sentence has two important parts, the subject and the verb
Indicate whether the statement is true or false
A furniture corporation manufactures two models of furniture—Standard and Deluxe. The total estimated manufacturing overhead costs are $64,300. The following estimates are available:
Standard Deluxe Direct materials cost per unit $240 $280 Direct labor cost per unit $120 $135 Number of units 250 500 The company uses direct labor costs as the base to allocate manufacturing overhead. Calculate the predetermined overhead rate. (Round your answer to two decimal places.) A) 32.15% B) 33.84% C) 190.52% D) 65.95%
________ is the strategic planning process that helps a firm evaluate its current managerial, technical, material and financial strengths and weaknesses.
A. Administrative coordination B. Internal resource analysis C. Corporate governance D. Environmental scanning