Which one of the following statements about inventory control systems is BEST?
A) A single-bin system is essentially a P system, with the target inventory and current inventory position established visually.
B) A base-stock system minimizes ordering and setup costs by placing orders more infrequently.
C) The base-stock system is mostly used for inexpensive items because it maximizes cycle inventory costs.
D) Visual systems are intended for use with high-value items, such as jet engines, that don't experience a steady demand.
A
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Starting from lowest to highest, rank the initial premium paid by the client for these insurance policies below:
A. Ordinary whole life, modified whole life, single premium whole life B. Single premium whole life, modified whole life, ordinary whole life C. Modified whole life, ordinary whole life, single premium whole life D. Modified whole life, single premium whole life, ordinary whole life
If losses on a particular line of fire insurance were $430 million, premiums earned were $595 million, and loss adjustment expenses were $95 million, the combined ratio would be
A. 0.88 implying that this line of insurance is profitable. B. 0.88 implying that this line of insurance is unprofitable. C. 1.13 implying that this line of insurance is profitable. D. 1.13 implying that this line of insurance is unprofitable. E. 0.22 implying that this line of insurance is profitable.