Which of the following is the purpose of the Federal Truth-in-Lending Act:
A: To limit interest rates;
B: To regulate fees charged by lenders;
C: To provide consumers information concerning the cost of credit;
D: All of the above.
Answer: C: To provide consumers information concerning the cost of credit;
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If you select one specific target market to whom you devote all your attention, you are following _____________________
a. Undifferentiated strategy b. Differentiated strategy c. Focused strategy d. Concentrated strategy
Gena purchased a policy to cover her home. Recently, she has been conducting business from the home and has hired several employees. She also has several clients per day coming to the home for business purposes. When Gena's insurer finds out about the additional exposures she has introduced into her home, they decide to take action. Which of the following actions is Gena's insurer most likely going to take?
a. Void her policy back to the date in which she started the business. b. Cancel her policy immediately. c. Suspend her policy until she moves the business out of her home. d. Void her policy to inception.