The uncertainty of customer demand for a product is the
A) rate of strategic uncertainty.
B) demand uncertainty.
C) implied demand uncertainty.
D) average forecast error.
Answer: B
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All of the following statements about life insurance company investments are true EXCEPT
A) Funds for these investments are derived primarily from premium income, investment earnings, and maturing investments that must be reinvested. B) Income from these investments reduces the cost of insurance. C) A primary objective in making these investments is safety of principal. D) The majority of these investments are short-term investments.
When using the test data approach,
A) test data should include data that the client's system should accept or reject. B) application programs tested by the auditor's test data must be different from those used by the client throughout the year. C) select data may remain in the client system after testing. D) None of the above statements is correct.