What is the insurer's consideration or exchange of value regarding an insurance policy?
A) To sign endorsements or modifications to the policy.
B) To make representations on the application.
C) To pay death benefits to the beneficiary when the insured dies.
D) To pay premiums in whole or within the grace period.
Ans: C) To pay death benefits to the beneficiary when the insured dies.
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Before sending a message that may contribute to information overload, what should the sender consider?
A) If the message is clear and meaningful B) If the purpose is acceptable to the organization C) If the time is right for the message D) If the purpose of the message is realistic E) If the message will change anything in the organization
A static method of forecasting
A) assumes that the estimates of level, trend, and seasonality within the systematic component do not vary as new demand is observed. B) assumes that the estimates of level, trend, and seasonality within the systematic component vary as new demand is observed. C) the estimates of level, trend, and seasonality are updated after each demand observation. D) All of the above are true.