______ is the change in demand that is anticipated to occur at the various price points the organization is considering for its product and/or service.

Larry purchased a traditional IRA when he was 32 years old. Over the years he has contributed (and deducted from his taxes) $50,000 into the contract. Now, at age 62, Larry is retiring and plans to annuitize the contract. His life expectancy is 20 years, and he will receive $450 per month under a straight life annuity income option. Of the $5,400 he will receive annually from this annuity, how much will represent taxable income?

A) 2916 B) 5400 C) 0 D) 2484

Insurance Brokerage Company uses a computer-based method of estimating the losses its clients will suffer if a severe storm or earthquake occurs. This method of estimating losses is called

A) capital budgeting. B) securitization of risk. C) risk mapping. D) catastrophe modeling.