Charles Blake told Wendy that he was an agent for Easy Pay Life Insurance Company. He presented no credentials
He asked Wendy some questions about her health and activities, and recorded the answers on scrap paper. He collected a $250 cash premium from Wendy. When Wendy did not receive a policy from Easy Pay, she contacted the company. Easy Pay said they do not have an agent named Charles Blake. Easy Pay is not responsible for Wendy's loss of $250 because
A) the principal is never responsible for the acts of its agents.
B) there is no presumption of an agency relationship.
C) limitations can be placed on the powers of agents.
D) knowledge of the agent is assumed to be knowledge of the principal.
Answer: B
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SCENARIO-BASED QUESTIONS Interpreting Quantitative Data ? Rancorps Inc has surveyed employees to determine their interest in learning about financial planning. The table shows the total employee responses, using the raw data and percentages. The
results of this survey will be reported to the director of Human Resources and used to develop a financial planning training seminar for employees. ? Personal Development Need Number Percentage Retirement Annuity 128 32 Traditional and Roth IRA 104 26 Mutual Funds 80 20 Internet Stock Trading 52 13 Effective Charitable Giving 36 9 ? Totals 400 100 Required: ? Write an analysis of this data and explain the results of the survey. This analysis will appear in the written report that will be sent to the director of Human Resources.
Natalie St. John, brand manager for a cookie producer, says that she is looking for a "full service" advertising agency. Apparently, in addition to having the agency purchase media, she wants an agency to help
A. plan package development. B. develop sales promotions. C. create the actual advertisements. D. provide market research. E. A full service agency might help with any of these.
The "front page of the newspaper test" is an application of whether conduct gives the appearance of impropriety
Indicate whether the statement is true or false
The UCC defines goods as:
a. all things which are moveable at the time of identification to the contract for sale b. all services which are relevant at the time of identification to the contract for sale c. any item that a seller offers to a buyer d. the combination of the items and services listed in the contract e. all the items listed in the contract and their related services