Reasons for having a minimum participation requirement before a group is eligible for insurance include which of the following?
I. To lower the expense rate per unit of insurance
II. To minimize the possibility of insuring a group which consists largely of unhealthy individuals
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: C
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Jack mails an offer to Joan that states, "I offer to sell you my car for $2000. If I don't hear from you in 10 days, I will assume you are willing to buy the car for the stated price." Jack hears nothing by the deadline and assumes he has a deal. What is the result?
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