Simulation applies mathematical models to determine optimal solutions to business problems

Abner's age was misstated in his application for a $50,000 life policy. What will the company do when it discovers the error?

A) It will adjust either the premium rate or the amount of protection. B) It will amend the application, but no additional premium can be charged. C) It probably will void the policy. D) It will do nothing because the policy cannot be altered in any way after it has been issued."

Which of the following is NOT a step in the strategic planning process?

A) establish the business mission B) define the business objectives C) develop the business portfolio D) identify the business vision E) evaluate all members of the supply chain