What is the effect of an incontestability clause?
A) The insured cannot file a claim more than a specified time following the insured event.
B) The insurer is prevented from canceling an insurance policy due to nonpayment.
C) The state is prevented from challenging any claim payment decisions of the insurer.
D) The insured is required to not challenge the statements made by its own insured.
E) The insurer cannot challenge the information in the application after a specified time.
E
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When a broker receives trust funds and places them in a trust account, which of the following statements is most nearly correct about interest earned on those funds:
A: Trust funds can never be placed in an interest-bearing account; B: The interest earned can be divided between the broker and the owner of the funds in any manner agreeable to both; C: The service charges on the account will always be deducted from any interest earned; D: The broker may not receive directly or indirectly any interest on trust funds.
When Kraft Foods launched Oreo brand cookies in China in 1996, they found that Oreo was too sweet for the Chinese palate, and the price was too low. Oreo reformulated a less-sweet chocolate-covered wafer and increased its price
This strategy is referred to as product extension approach. Indicate whether the statement is true or false