For a factory worker, all of the following are charged to Factory Overhead except:
a. the shift premium paid because the worker works the "graveyard" shift.
b. the payroll taxes related to direct labor time.
c. the overtime premium paid as a result of a "rush" job stipulated by the customer contract.
d. the make-up guarantee paid because the employee did not reach the quota set forth in a modified wage plan.
c
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Underwriters select and classify insurance applicants.
a. true b. false
With regard to substandard life insurance risks, which of the following statements is CORRECT?
A) An applicant can be deemed a substandard risk based on physical condition only; no other criteria may be considered. B) To provide coverage to substandard risks, insurers are allowed to charge an extra premium; however, they cannot alter benefit periods or waiting periods. C) Because of stringent underwriting requirements, most life insurance applicants are classified as substandard risks. D) When the applicant represents a substandard risk, the policy may be modified to reduce the benefits provided. "