In order to activate the reinstatement clause of a lapsed life insurance policy, the insured MUST
A) remit all past-due premiums within the grace period
B) provide evidence of insurability to the insurer
C) resubmit a new life insurance application
D) provide a valid reason for the lapse
Ans: B) provide evidence of insurability to the insurer
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The disadvantage of building up inventory during the off season to meet demand during peak seasons and keep production stable year round is
A) very low inventory costs because no inventory needs to be carried from period to period. B) very high inventory costs because inventory needs to be carried from period to period. C) in the fact that a firm could get by with a smaller, less expensive factory. D) in the fact that a firm could get by with a larger, more expensive factory.
Which of the following is an unfair competitive advantage?
A) brand name B) access to global markets C) lower product prices D) superior technology