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....
-
Complete the following balance sheet for Fawcett's Plumbing Supplies. Fawcett's Plumbing Supplies Balance Sheet March 31, 2013 Assets Current assets Cash Office supplies Accounts receivable Total...
-
On July 23 of the current year, Dakota Mining Co. pays $4,715,000 for land estimated to contain 5,125,000 tons of recoverable ore. It installs machinery costing $410,000 that has a 10-year life and...
-
Give the Euler-Milstein approximation scheme for the following SDE: \[d S_{t}=\mu_{S} S_{t} d t+\sigma S_{t}^{\beta} d B_{t}\] where \(\beta \in(0,1]\). Generate five paths and plot them for the...
-
Suppose that on January 6, 2016, Westfall Motors paid $360,000,000 for its 40% investment in Phase Motors. Assume Phase earned net income of $20,000,000 and paid cash dividends of $25,000,000 to all...
-
The following is a trail balance of ACC Limited for the year ended 31 December 2014: BALANCE SHEET ACCOUNTS Capital Drawings Land and buildings (at cost) Vehicles (at cost) Furniture (at cost) Bank...
-
Dry Quick (DQ) is a medium-sized, private manufacturing company located near Timmins, Ontario. DQ has a June 30 year-end. Your firm, Poivre & Sel (P&S), has recently been appointed as auditors forDQ....
-
Walmart has just paid an annual dividend of $3.03. Dividends are expected to grow by 7% for the next 4 years, and then grow by 2% thereafter. Walmart has a required return of 7%. What is the expected...
-
Describe why the doctrine of substantial performance is of practical importance.
-
A suppliers invoice for goods has the following common term printed on it: TermsNet price 30 days; 2 percent discount if paid within 10 days. If the buyer pays the price less 2 percent within 10...
-
Describe two ways in which anticipatory breach may occur.
-
In what types of contracts does it become particularly difficult to ascertain whether a breach is sufficient to allow the injured party to be freed from its part of the bargain? Explain.
-
Describe the nature and purpose of liquidated damage clauses and how they are distinguished from penalty clauses.
-
Raybac is about to go public. Its present stockholders own 590,000 shares. The new public issue will represent 990,000 shares. The shares will be priced at $25 to the public with a 6% spread. The...
-
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...
-
Consider the following observations: a. Fit the nonlinear regression model \[ y=\theta_{1} e^{\theta_{2} x}+\varepsilon \] to these data. Discuss how you obtained the starting values. b. Test for...
-
For the models shown below, determine whether it is a linear model, an intrinsically linear model, or a nonlinear model. If the model is intrinsically linear, show how it can be linearized by a...
-
Sketch the expectation function for the logistic growth model (12.34) for \(\theta_{1}=1, \theta_{3}=1\), and values of \(\theta_{2}=1,4,8\), respectively. Overlay these plots on the same \(x-y\)...
Study smarter with the SolutionInn App