Which of the following statements about group and individual life insurance is CORRECT?
A) Group plans issue separate contracts to each insured individual.
B) Group plans require individual underwriting and evidence of insurability.
C) Group plans involve experience rating, while individual policies require individual underwriting and evidence of insurability.
D) Group plans typically have higher premiums per unit of benefits than individual insurance.
Ans: C) Group plans involve experience rating, while individual policies require individual underwriting and evidence of insurability.
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Which of the following is true of middle of the road managers?
A) They have an ideal combination of task and interpersonal behaviors and thus are the most effective type of leader B) They are great with people because they demonstrate a compromising leadership style that is especially effective for resolving conflicts C) They are good role models because they spend equal energy on task and interpersonal behaviors D) They are equally concerned at a medium level with task behaviors and interpersonal behaviors
Bonds with a face amount $1,000,000, are sold at 98. The entry to record the issuance is
A) Cash 1,000,000 Premium on Bonds Payable 20,000Bonds Payable 980,000 B) Cash 980,000Premium on Bonds Payable 20,000Bonds Payable 1,000,000 C) Cash 980,000Discount on Bonds Payable 20,000Bonds Payable 1,000,000 D) Cash 980,000Bonds Payable 980,000