During the underwriting process, an insurer may do all of the following EXCEPT
A) order a credit report
B) verify the applicant's military records, if any
C) contact the Medical Information Bureau to check on the applicant's medical history
D) order a consumer report to provide details on the applicant's reputation, character, and habits"
Ans: B) verify the applicant's military records, if any
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Output controls ensure that output is not lost, misdirected, or corrupted and that privacy is not violated. What are some output exposures or situations where output is at risk?
Gateway sold a big-screen TV and entertainment center to Iris for $2000 on credit. Iris signed a promissory note and gave Gateway a security interest in the TV and entertainment center. Gateway filed a financing statement in the appropriate public office. When Iris defaulted on her monthly payments owing a balance of $1780, Gateway's attorney made arrangements to have the TV and entertainment
center repossessed. The attorney then placed classified ads in the local newspaper to sell the goods. The attorney's fees are $300, the repo company charged $150, and the advertising costs are $50. ( A) Is Iris able to redeem the property? (B) If Iris does not redeem and the TV and entertainment center are sold for $1750, how will the money be disbursed?