Simplicity is the main advantage of which of the following process costing methods?

The insured dies 6 months after the policy issue date. Upon death of the insured, it is determined that the applicant made a material misstatement on the application. What is the most likely course of action for the insurer?

A. Rescind the policy B. An administrative hearing by the DOI C. A hearing by a court of law to determine the appropriate actions D. No course of action allowed since the policy has already been issued

The normal application of a p-chart is in:

A) process sampling by variables. B) acceptance sampling by variables. C) process sampling by attributes. D) acceptance sampling by attributes. E) process capability ratio computations.