Which of the following best defines insurance??
A) ?It is a contract whereby a party transfers his right to receive interest to a third-party such as an agent
B) ?It is a contract whereby a party transfers a risk of physical injury to the risk bearer for a fee.
C) ?It is a contract whereby a party transfers his right to a claim for a particular fee.
D) ?It is a contract whereby a party transfers a risk of financial loss to a risk bearer for a fee.
D
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_____ is a motivational system of individual performance improvement.
A) Performance appraisal B) Performance management C) Critical incidents D) Frame of reference
A transportation problem has improvement indices of 5, 4, 0, and -3. Which of the following is always true?
A) The transportation model is at its ideal solution. B) The transportation model is at an infeasible solution. C) The total cost saved by changing one unit on the route with an improvement index of 5 would be $5. D) The transportation matrix has four empty squares. E) Both B and D