Which of the following illustrates the internal control procedure—separation of duties?
A) Cashiers must not have access to accounting records.
B) External auditors will monitor internal controls.
C) Electronic devices must be installed to reduce theft.
D) The invoices and other documents must be pre-numbered.
A
Business
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Which of the following does a life insurance policy summary normally include?
A) The policy's cash value B) Agent's report C) Policyowner's MIB report D) Stated beneficiary
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After a policy has lapsed, which provision allows the insured to continue coverage?
A) Entire contract provision B) Reinstatement provision C) Nonforfeiture provision D) Grace period provision
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