What is the doctrine of utmost good faith? What situations arise out of its application? Explain
What will be an ideal response?
The doctrine of utmost good faith raises the degree of honesty in insurance contracts above normal business contracts. Representations, concealments, and warranties arise. Representations, when false and material, allow the company to avoid payment. Material concealments do the same as well as breaches of warranties.
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Fifty-five percent of the applications received for a particular credit card are accepted. Among the next twelve applications, a.what is the probability that all will be rejected?b.what is the probability that all will be accepted?c.what is the probability that exactly 4 will be accepted?d.what is the probability that fewer than 3 will be accepted?e.Determine the expected number and the variance of the accepted applications.
What will be an ideal response?
Which of the following statements regarding audiovisual presentations is true?
A) Focus your presentation on the features that have the greatest "wow factor." B) At the conclusion of the presentation, persuade the prospect to buy. C) Show the entire presentation and then answer questions. D) Be sure the prospect knows the purpose of the presentation. E) Avoid previewing the material which ruins the surprise factor.
In what context has most of the adaptive leadership research been conducted?
A. health care B. K–12 education C. higher education D. public companies
According to integrative social contracts theory, the ethical standards a company should try to uphold
A. should never be absolute but rather always provide some wiggle room according to the circumstances of the situation. B. are governed both by (1) a limited number of universal ethical principles that are widely recognized as putting legitimate ethical boundaries on actions and behavior in all situations and (2) the circumstances of local cultures, traditions, and shared values that further prescribe what constitutes ethically permissible behavior and what does not-but universal norms always take precedence over local ethical norms. C. are governed by the school of ethical universalism. D. should be determined by the company's board of directors. E. are governed by each country's Code of Required Ethical Conduct, which sets forth that each individual/group/business/organization has a "social contract" to observe the ethical and moral standards that the country has adopted.