A fiduciary responsibility is defined as
A) a relationship of special trust and confidence when a person is entrusted with another's funds
B) the responsibility the producer has to the appointing insurer
C) the responsibility of the insured to pay premiums in a timely fashion
D) the relationship between the broker and the insurer whose products are sold"
Ans: A) a relationship of special trust and confidence when a person is entrusted with another's funds
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A(n) ________ is a clause in an instrument that permits the maker to pay the amount due prior to the date of the instrument
A) prepayment clause B) acceleration clause C) extension clause D) forestallment clause
Rogers Incorporated has a targeted operating income of $518,000 for the upcoming year. The selling price of its single product is $40.50 each, while the variable cost per unit is $12.50. Fixed costs total $182,000
Calculate the following: a. Contribution margin per unit b. Breakeven point in units c. Units to be sold to earn the targeted operating income