Which statement is not true about insurance sales?
A. Mass marketing techniques usually involve selling insurance without the use of an agent.
B. Brokers represent insurers in negotiating coverage with various insureds.
C. Insurance agents are not authorized to sell life insurance.
D. An agent or broker must exercise care when using apparent authority during the sales process.
Ans: B. Brokers represent insurers in negotiating coverage with various insureds.
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A corporation has 20,000 shares of 17%, $50 par cumulative preferred stock outstanding and 25,000 shares of no-par common stock outstanding
Dividends of $36,000 are in arrears. At the end of the current year, the corporation declares a dividend of $208,000. How is the dividend allocated between preferred and common stockholders? A) The dividend is allocated $2,000 to preferred stockholders and $206,000 to common stockholders. B) The dividend is allocated $206,000 to preferred stockholders and $2,000 to common stockholders. C) The dividend is allocated $208,000 to preferred stockholders and no dividend is paid to common stockholders. D) The dividend is allocated $170,000 to preferred stockholders and $38,000 to common stockholders.
Basing a communications budget on sales from the previous year or anticipated sales for the next year is which method?
A) percentage of sales B) meet the competition C) what we can afford D) payout planning