Term insurance is best described by which of the following?
A. Provides coverage to age 100, builds cash value, participates in dividend payments, high premium and is payable at the end of a preselected period.
B. Combines monthly income during a stated period with a death benefit, nonforfeiture provisions and greater flexibility during times of inflation.
C. Provides temporary protection, builds no cash value, is less expensive, and may be renewed.
D. Provides the option to adjust the face amount, change anniversary dates, and automatically increases face amount at given age.
Ans: C. Provides temporary protection, builds no cash value, is less expensive, and may be renewed.
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Upon acquiring a new computer operating system, management at Berryhill worried that computer virus might cripple the company's operation. Despite the concern, management did not think that the risk was high enough to justify the purchase of an anti-virus software. Berryhill chose to ________ the risk of being crippled by computer virus
A) reduce B) share C) avoid D) accept
Identify the statement below which is true.
A) Requiring two signatures on checks over $20,000 is an example of segregation of duties. B) Although forensic specialists utilize computers, only people can accurately identify fraud. C) Internal auditors, rather than external auditors, can conduct evaluations of effectiveness of Enterprise Risk Management processes. D) Re-adding the total of a batch of invoices and comparing the total with the first total you calculated is an example of an independent check.