Salem is a newly licensed insurance agent working with his first set of clients on an...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Salem is a newly licensed insurance agent working with his first set of clients on an application for an accident and sickness policy. Salem is working with a more senior agent who is heiping with his training process. Which of the following statements about Salem's rofe is CORRECT? Salem's role should be to act as the "recorder" of the information on the application and he should not seek further information or provide interpretation. Salem is responsible for ordering an inspection report if information disciosed on the initial application would warrant 注, 26 Oa) Ob) Salem will likely be required to have the applicants complete a hazardous sports and occupations questionnaire if they indicate these hazards on the application. Salem should not attempt to interpret his client's answers on the "non-medical" form because it could introduce bias for the underwriting department. 88 Salem is a newly licensed insurance agent working with his first set of clients on an application for an accident and sickness policy. Salem is working with a more senior agent who is heiping with his training process. Which of the following statements about Salem's rofe is CORRECT? Salem's role should be to act as the "recorder" of the information on the application and he should not seek further information or provide interpretation. Salem is responsible for ordering an inspection report if information disciosed on the initial application would warrant 注, 26 Oa) Ob) Salem will likely be required to have the applicants complete a hazardous sports and occupations questionnaire if they indicate these hazards on the application. Salem should not attempt to interpret his client's answers on the "non-medical" form because it could introduce bias for the underwriting department. 88
Expert Answer:
Related Book For
Probability and Statistics
ISBN: 978-0321500465
4th edition
Authors: Morris H. DeGroot, Mark J. Schervish
Posted Date:
Students also viewed these accounting questions
-
Which of the following statements about the minimum variance portfolio of all risky securities are valid? (Assume short sales are allowed.) Explain. a. Its variance must be lower than those of all...
-
Which of the following statements about the security market line (SML) are true? a. The SML provides a benchmark for evaluating expected investment performance. b. The SML leads all investors to...
-
The following statements about virtue were made by noted philosophers/writers: a. MacIntyre, in his account of Aristotelian virtue, states that integrity is the one trait of character that...
-
Requirement 1 Two contribution format statements: current and proposed based on business decision. Requirement 2 For each option current and proposed business decision) calculate the following: a....
-
Define family enterprising, familiness, and relationship capital and relate each of them to the Timmons Model of the entrepreneurial process.
-
Suppose that you have $\$ 50,000$ and need to invest it so that you will have $\$ 1,000,000$ twenty years from now to repay a debt. What interest rate do you have to earn, assuming monthly...
-
ABS Plumbing Ltd wants to prepare flexible budget cost estimates for the following items within a range of 33000 to 41000 chargeable hours. Required (a)Prepare a flexible overhead budget for 33000,...
-
Write the answers to the following questions Consider the following income statement: Sales ......... $734,800 Costs ........ $327,600 Depreciation ..... $102,000 EBIT ............ ? Tax (35%)...
-
Explain the role of safety instrumented systems (SIS) in PSM, focusing on how safety integrity levels (SIL) are determined and the impact of these systems on overall process safety.
-
Matt Simpson owns and operates Quality Craft Rentals, which offers canoe rentals and shuttle service on the Nantahala River. Customers can rent canoes at one station, enter the river there, and exit...
-
Explain what is meant by an arm's length transaction. What effect could a " non arm's length transaction" have on a sales price?
-
Some people are allergic to pollen. Do you think beepollinated plants or wind-pollinated plants are more likely to cause allergies? Why?
-
We know that birds stay in the air due to lift, an upward force produced by the difference in air pressure above and below the wings. This air-pressure difference is, in turn, the result of air...
-
When you buy fresh flowers, you should cut the stems underwater to prevent an air bubble from forming in the xylem. What would happen if an air bubble entered the xylem?
-
Birds have hollow bones, an adaptation for flight. How do hollow bones help birds fly?
-
Suppose a species of bacteria divides once every 20 minutes. You start with a single bacterium on your unrefrigerated egg-and-baloney sandwich at 8:00 am. Show that when you sit down to lunch at...
-
For the following exercises, describe each vector field by drawing some of its vectors. F(x,y) = xi - yj
-
Briefly discuss the implications of the financial statement presentation project for the reporting of stockholders equity.
-
Suppose that a single observation X is taken from the normal distribution with mean 0 and unknown standard deviation > 0. Find an unbiased estimator of , determine its variance, and show that this...
-
Prove Theorem 2.2.3 on page 72. In Theorem 2.2.3 Let n > 1 and let A1, . . . , an be events that are mutually exclusive. The events are also mutually independent if and only if all the events except...
-
a. Show how to simulate a random variable having the Laplace distribution with parameters 0 and 1. The p.d.f. of the Laplace distribution with parameters and is given in Eq. (10.7.5). b. Show how...
-
The risk that can be diversified away is best described as: A. beta risk. B. systematic risk. C. unsystematic risk.
-
Which of the following statement is not true: A. A company's beta does not change over time. B. The fundamental beta allows for potential of beta to change over time. C. An historical beta is...
-
An efficient portfolio, according to Markowitz, is all but which of the following: A. lowest risk for a given level of expected return. B. greatest expected return for a given level of risk. C....
Study smarter with the SolutionInn App