While registering a fictitious name, a business need not disclose the names and addresses of the owners.

Which of the following would not be considered an R & D activity?

a. Adaptation of an existing capability to a particular requirement or customer's need. b. Searching for applications of new research findings. c. Laboratory research aimed at discovery of new knowledge. d. Conceptual formulation and design of possible product or process alternatives.

As an alternative to reinsurance, some insurers transfer insurable risk to the capital markets through the creation of a financial instrument, such as a catastrophe bond. Such transfers are called:

(a) immunization of risk. (b) avoidance of risk. (c) securitization of risk. (d) indexation of risk.