A possessive noun expression can be replaced with a(n) ________

James Franks lives in Miami. He buys local products from manufacturers in Miami and other parts of Florida and sells them abroad, mainly to Caribbean nations. Mr. Franks is a(n) ________

A) domestic-based export merchant B) domestic-based export agent C) cooperative agent D) export-management agent E) direct exporting agent

All of the following statements about the administration of a risk management program are true EXCEPT

A) The risk manager is an important part of a firm's management team. B) A risk management policy statement can be used to educate top executives about the risk management process. C) If a risk management program is properly designed, periodic review of the program is unnecessary. D) In order to properly identify loss exposures, the risk manager needs the cooperation of other departments.