What is the purpose of companies such as A.M. Best, Moody's and Standard & Poor's?
A) They sell life insurance directly to consumers without agents.
B) They evaluate and rate the financial stability of the insurance industry.
C) They provide reinsurance coverage to the insurance industry.
D) They sell low cost term insurance via the Internet.
Answer: B
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A ________ refers to an alteration or a modification of a product by a party in the chain of distribution that absolves all prior sellers from strict liability.
A. res ipsa loquitur B. negligence per se C. proximate cause D. supervening event
Answer the following statement(s) true (T) or false (F)
1. A researcher surveyed 480 Australian law enforcement senior managers. The researcher speculates that clarification comes after rewarding behaviors because subordinates use the leaders’ history of rewarding extra work to form their perceptions of the current deal—if past promises of rewards have not been kept, then the clarification level in the current negotiation is likely to be low. 2. The Hersey-Blanchard Situational Leadership®1 Model has a leadership style called the telling style, which consists of highly directive, low-supportive leadership in which leaders give detailed instructions and use close monitoring with relatively little emotional support. 3. According to path-goal theory, it’s not the job of the leader to banish these nagging doubts from the minds of their followers and make them confident they can get the job done and receive the rewards they deserve. Followers need to be self-motivated and self-confident, so leaders should focus on selecting confident, capable employees. 4. For several years, Welch (former CEO of General Electric), had a forced distribution performance appraisal system that resulted in the bottom 10% of managers being fired (Welch, 2003). Welch personally fired many managers that he felt were not passionate enough about their jobs.
An ex-gratia claim made when a project is closed down is made when:
A) There is no contractual basis for a claim. B) The project company fails to perform to the terms of the contract. C) The client company fails to perform to the terms of the contract. D) A third party causes either the client or project company to fail to perform to the terms of the contract.
The slope of a nonlinear function varies depending on the point along the line at which it is measured
Indicate whether the statement is true or false