Chapter 1 discusses 10 principles that form the foundation of personal finance. The principle that considers the importance of insurance is the ________ principle
A) agency problem — beware the sales pitch
B) all risk is not equal
C) time value of money
D) protect yourself against major catastrophes
E) none of the above
Answer: D
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Consider the network diagram given in Figure 1. Assume that the amount on each branch is the distance in miles between the respective nodes. What is the shortest route from the source node (node 1) to nodes 2, 3, and 4?
Indicate the total distance for each route.
How does gainsharing help the group as a whole?
A) The high performers pressure weaker ones to work harder and improve overall performance. B) The high performers can help the low performers by taking on their responsibility. C) The new employees and low performers do not have a part in the overall gains accrued to the group. D) The group's overheads are distributed evenly across the group. E) The group's responsibilities are distributed evenly across the group.