The local franchise of a national bar and grill chain continued to serve a drunk customer. The drunk customer tried to drive home
He hit and killed two people who were riding bicycles. The representatives of those who were killed filed a lawsuit against the national chain. As jury awards in the area where the incident occurred are high, insurers selling liquor liability insurance refused to issue new coverage until the case was resolved. Because no admitted insurers sell the coverage, liquor liability insurance in this case is considered a(n)
A) residual line.
B) mandatory coverage.
C) orphan policy.
D) surplus line.
Answer: D
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A method of characterizing the relationship between two or more variables and then using the characterization to make a prediction is called
A) loss analysis. B) time value of money analysis. C) regression analysis. D) capital budgeting analysis.
A court may dismiss a case because, even if the statements made by the plaintiff are true, there is no legal remedy for the events that happened
a. True b. False Indicate whether the statement is true or false
The bookshelves at Barnes & Noble are an example of a(n)________, which would be classified as a(n) ________.
A) physical asset; amortization B) tangible asset; depreciation C) fixed asset; amortization D) intangible asset; depreciation
Which of the following employs reasoning that is most similar to the reasoning employed by the product director?
A) "The product requirements for the online collaboration tool are well-understood now, but they may change as the project develops. Since we cannot tell what will be required, we must choose a manager whose skills are outstanding in every way." B) "It is clear that we need a large truck in order to move all of our office equipment; therefore, we should choose the largest truck possible." C) "The project before us requires both human skills and conceptual skills; therefore, we should appoint two managers: one with outstanding human skills and one with outstanding conceptual skills." D) "We need to choose a site for the sales conference. Choosing a place close to most employees' workplaces would save travel costs, but some employees also prefer to travel to an exotic location far away. Since it is impossible to meet both goals, we should focus on the goal that is easier to accomplish." E) "The design of the new office building should impress visiting guests, but that should not be the dominant factor in our decision. Relatively few guests visit our offices. Instead, we should save money by choosing an energy-efficient design."