Which of the following statements about Lloyds of London (are) true?
I. The majority of the business underwritten by Lloyds of London is for unusual risks, such as valuable race horses and professional athletes.
II. Lloyds of London is a group of underwriters who underwrite insurance, not an insurance company.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: B
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Which of the following would not be paid for by the PAP's Other than Collision coverage?
A) The insured hits a deer and damages his car. B) The car is sprayed with paint as it passes by a road construction site. C) The driver of the car hits a bird and breaks the windshield. D) A crate falls off the back of a truck and lands on the hood of the insured's car.
Which inventory valuation method calculates the value of the ending inventory as the mean cost of the beginning inventory plus the cost of all purchases during the time period?
A) weighted average method B) LIFO method C) FIFO method D) none of the above
What type of stock pays dividends in arrears?
A) Cumulative common stock B) Cumulative preferred stock C) Non-cumulative common stock D) Non-cumulative preferred stock
The _____ (in time) through a PERT network is the _____
a. longest path….critical path b. shortest path….critical path c. longest path….slack d. shortest path….slack e. None of the above.