Kate completed a life insurance application. Her agent forwarded the application to the insurer. The insurer issued the policy. The agent delivered the policy to Kate. When Kate received the policy, she paid the premium. When was the offer accepted in this case?
(a) when Kate completed the application
(b) when the agent forwarded the application to the insurer
(c) when the insurer issued the policy
(d) when Kate received the policy and paid the first premium
Ans: (d) when Kate received the policy and paid the first premium
Business
You might also like to view...
Each part of a firm's service mix should make a different contribution to achieving its goal
a. true b. false
Business
Within the framework of the equity theory, if an employee perceives iniquitous treatment and decides to exert less effort, what choice have they made?
a. change their inputs b. change their outcomes c. adjust perceptions of self d. choose a different referent e. adjust perceptions of others
Business