Which of the following statements BEST describes what the Legal Actions provision of an Accident and Health policy requires?
An insured must settle a claim within 60 days after Proof of Loss is submitted
An insured must wait at least 30 days after Proof of Loss has been submitted before a lawsuit can be filed
An insured must wait at least 60 days after Proof of Loss has been submitted before a lawsuit can be filed
An insured must settle a claim within 30 days after Proof of Loss is submitted
The correct answer is "An insured must wait at least 60 days after Proof of Loss has been submitted before a lawsuit can be filed".
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The Colorful Paint Company got a mortgage from the bank to purchase a factory in which it could make paint. As part of its manufacturing process, Colorful Paint dumped the excess paint into a pit behind the building. This practice contaminated the property. If the bank foreclosed on the factory, would the bank be liable for cleanup costs of the contaminated land?
A. Yes, because it owns the property. B. No, because it was an innocent landowner. C. No, because it did not contaminate the property. D. No, because it was a secured creditor.
Activity-based management is an extension of activity-based costing
Indicate whether the statement is true or false
Which of the following is a good way to generate ideas pertinent to a problem and is similar to brainstorming?
A. the A-B-C model B. nominal group technique (NGT) C. force field analysis D. a cause-and-effect diagram
The calculation of a rate of return assumes dividend income is reinvested at the current dividend yield.?
Answer the following statement true (T) or false (F)