QUESTION Which of the following is NOT an insurer’s requirement for coverage? A) The policyholder must have an insurable interest. B) The loss should be accidental. C) The loss should be very great. D) The insurer is able to spread the risk widely. E) The loss must be measurable. ANSWER Answer: C Explanation: C) […]
Date: September 3rd, 2020
QUESTION Which of the following is an uninsurable risk? A) theft B) homicide C) tornados D) wildfires E) wear and tear ANSWER Answer: E Explanation: E) Personal risks, market risks, and political risks are uninsurable risks. Other uninsurable risks are wars, recessions, strikes, and gradual rusting or wear and tear.
Date: September 3rd, 2020
QUESTION Which of the following is an insurable risk? A) a tsunami B) being fired or laid off C) business competition undercutting you on price D) a regime change in the Middle East E) a war in Africa ANSWER Answer: A Explanation: A) A tsunami is an insurable risk because it meets the insurer’s […]
Date: September 3rd, 2020
QUESTION Which insurance term is correctly paired with its definition? A) premium: a notice by the insured to the insurer that payment is expected to cover a loss B) reserves: the specified amount that a policyholder must pay toward a loss before the insurer will pay anything C) deductible: funds received from premiums and left […]
Date: September 3rd, 2020
QUESTION The impasse continues, and the UFCW threatens to call a strike during the high-demand period of spring. What is the most prudent response that management could use to try to overcome the breakdown in negotiations? A) Institute proceedings to decertify the union’s right to bargain at the greenhouse. B) Run the greenhouse for several […]
Date: September 3rd, 2020
QUESTION The union election results in approval of the union; however, Texas is a right-to-work state. Which of the following issues does the UFCW have the power to discuss during collective bargaining? A) requiring new employees to be American citizens and speak fluent English B) requiring that greenhouse materials be purchased from facilities represented by […]
Date: September 3rd, 2020
QUESTION It quickly becomes apparent that there is no medical consensus over whether the disputed pesticide causes long-term medical effects when used according to directions. Management, therefore, does not want to discontinue use of the pesticide as replacing it would be costly; however, it proposes to provide more detailed instructions to avoid misuse of the […]
Date: September 3rd, 2020
QUESTION Torgo’s CEO takes the position that opening permanent operations in Sri Lanka will benefit the company as well as Sri Lanka itself. Which of the following, if true, most weakens the CEO’s position? A) Asian countries tend to have large amounts of inexpensive labor available. B) Torgo Software employs some of the best IT […]
Date: September 3rd, 2020
QUESTION After the contract has been negotiated and approved by both sides, a situation arises in which a new employee is slightly sickened when a supervisor instructed her to enter a greenhouse too soon after fumigation. The worker, accompanied by a union steward, presents a grievance to the supervisor, who insists that the injury was […]
Date: September 3rd, 2020
QUESTION Which of the following, if true, most strengthens the CEO’s argument for undertaking operations in Sri Lanka? A) The cost of living is much lower in Sri Lanka than in the United States. B) Few other similar companies do business in Sri Lanka. C) Unemployment is currently very low in Sri Lanka. D) Labor […]
Date: September 3rd, 2020
