Regarding group life insurance coverage sponsored by a business, which of the following persons is the one responsible for applying for the plan, providing member info, making the premium payments for the members, and maintaining the policy or contract?
A. The agent who obtained the group plan.
B. The insurer that provided the group plan.
C. The master policyholder.
D. The individuals who make up the covered group.
Answer: C. The master policyholder.
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Which of the following statements regarding the disposition of fiduciary funds is CORRECT?
A) Funds collected as premiums are to be kept separate from those used for personal expenses or investments. B) Since the insured knowingly gave the premiums to the agent, personal use of those funds by the agent would not be considered theft. C) As long as the agent replaces any funds he used for personal expenses, the agent has not violated the fiduciary trust. D) A licensee may invest fiduciary funds in the stock market."
Market segmentation can be best described as the process of ________
A) assigning specific human attributes to a given brand B) dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs C) evaluating each market segment's attractiveness and selecting one or more segments to enter D) turning marketing plans into marketing actions to accomplish strategic marketing objectives E) maintaining a strategic fit between organizational goals and changing marketing opportunities