When entering into a legally enforceable insurance contract consideration must exist. Explain what consideration is and the form it takes in insurance contracts
What will be an ideal response?
Consideration is an exchange of tangible property or promise(s) in order to start an enforceable contract. Consideration in property insurance is the money exchanged (or the promise to pay) and abiding by the conditions and stipulations in the contract. In life insurance it is money exchanged and making truthful statements in the application.
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Advertisements with messages like "Orange juice-It's not just for breakfast anymore!" or "Soup can be a delicious way to start a cold winter's day" are using ________ segmentation.
A. geographic B. benefits sought C. lifestyle D. psychographic E. usage patterns
In the job characteristics model, __________ is the extent to which employees find out how well they have performed their tasks.
A. satisfaction B. informance C. task significance D. correctness E. feedback
Explain what is meant by management fads and fashions?
What will be an ideal response?
If the manager uses maximin as the decision criterion, which of the alternatives should she choose?
A manager has developed a payoff table that indicates the profits associated with a set of alternatives under two possible states of nature. Alt S1 S2 1 10 2 2 -2 8 3 8 5