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Why was the commercial Insurance Deregulation Act Created? - Answer- To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? - Answer- Commercial policies When must rate amendments & policy forms be filed with the commissioner? - Answer- 30 days before What losses are excluded from flood insurance? - Answer- -Landslides -Sew...

Employees are barred from suing employers in court to obtain compensation for injuries covered by workers' compensation because of which of the following doctrines? -Employer liability -Exclusive remedy -Workman liability -No fault insurance - Answer- Exclusive Remedy Which of the following would trigger coverage under business income form with extra expense coverage? -Carpet cleaning after a water main break -Employee pay after a building structure is damaged -Building inspectors...

The Mobile Home Endorsement of a Homeowners policy affords coverage to mobile homes under the? A. HO-1 (Basic Form) B. HO-2 (Broad Form) C. HO-3 (Special Form) D. HO-2 or HO-3 (Broad and Special) - Answer- D. HO-2 or HO-3 (Broad and Special) All of the following are eligible for coverage under Homeowners policy except? A. A condominium unit owner. B. A farm owner. C. A mobile home owner. D. A tenant in an apartment building. - Answer- B. A farm owner. The term Insured Location under Se...

Which of the following statement's is true regarding the premium computation for worker's compensation insurance? - Answer- A premium auditor has the right to examine the insured's compensation records at the end of the policy period to determine the actual premium basis The part of the policy that sets forth the rules of conduct, duties, & obligations of the parties is called the... - Answer- Conditions A small restaurant was forced to close for 10 days in August when the power company...

Which of the following are the authorities that an agent can hold? - Answer- Express and implied Which of the following terms refers to such disabilities the loss of a limb, hearing , or eye sight? - Answer- Permanent partial disability Who is NOT considered an employee in an commercial general liability (CGL) policy? - Answer- Temporary worker The major portion of the premium of an equipment breakdown policy pays? - Answer- For inspections and examinations An insured owns a building...

How many hours of pre-licensing education is required? - Answer- 20 hrs for each exam If a non-resident agent moves to Ohio, within how many days can they apply and be granted a resident license without testing? - Answer- 90 days and in good standing in home state What are requirements for obtaining a license? - Answer- At least 18 yrs old, citizen or legal worker, clean record, criminal background check and fingerprinting, took class and passed class exam, submitted application and paid f...

Exam (elaborations) BSG Exam 1 Questions And Answers 2023 2 Exam (elaborations) BSG Course QUESTIONS AND ANSWERS 3 Exam (elaborations) BSG exam 2 QUESTIONS AND ANSWERS 2023 4 OTHER BSG Exam 1

A company's strategy - Answer- Represents managerial commitment to undertake one set of actions rather than another in an effort to compete successfully and achieve good performance outcomes Which of the following questions helps distinguish a winning strategy from a mediocre or losing strategy - Answer- Is the strategy helping the company achieve a sustainable competitive advantage and is it resulting in goo company performance? In crafting a company's strategy - Answer- Managers need t...

Strategic Competitiveness - Answer- When a firm successfully formulates and implements a value-creating strategy. Strategy - Answer- An integrated and coordinated set of commitment and actions designed to exploit core competencies and gain a competitive advantage. Competitive Advantage - Answer- When a firm implements a strategy that its competitors are unable to duplicate or find too costly to try to imitate. Risk - Answer- An investor's uncertainty about the economic gains or losses ...

Which of the following is not among the choices and decisions a company makes in crafting its strategy - Answer- How to boost the company's credit rating and stock price A company's strategy evolves from one version to the next - Answer- as managers abandon obsolete or ineffective strategy elements, settle upon a set of proactive strategy elements, and then as new circumstance unfold-- make adaptive strategic adjustments, which gives rise to reactive strategy elements A winning strategy ...

Which one of the following factors is an important consideration in deciding whether the outlook for the industry presents the company with good prospects for attractive profitability? - Answer- Whether and to what degree the industry profitability will be less favorably or unfavorably affected by industries driving forces Potential entrants are more likely to be deterred from actually entering an industry when - Answer- industry incumbents are willing and able to launch strong defensive mane...

Strategy - Answer- consists of the competitive moves and business approaches that managers employ to attract and please customers, compete successfully, capitalize on opportunities to grow the business, respond to changing market conditions, conduct operations, and achieve the targeted financial and market performance 3 Strategic Questions firms must answer - Answer- 1. What is the firm's present situation? 2. What direction to head and what performance targets to set 3. How to run the fir...

Employees Compensation Package - Answer- Base Wages, Inceentive wages per non defective pair Year 11-12 - Answer- 6 million without overtime, 7.2 with the use of overtime SQ rating - Answer- % of superior materials, 6 Sigma, Use of best practices training, expenditures for new styling features Credit Rating Factors - Answer- Debit to asset ratio, default risk ratio, interest coverage ratio Best describes company's plant - Answer- Standard and superior materials sourced from outside ...

The company currently has production facilities to make athletic footwear in a. Taiwan, India, Brazil, and Middle East. b. North America and Asia-Pacific. c. Asia-Pacific and Latin America. d. the Middle East and China. e. North America and Latin America. - Answer- b. North America and Asia-Pacific. Which one of the following is not a factor in determining a company's unit sales and market share of branded footwear in a particular geographic region? a. The number of retailers stock...

narrow/conventional approach - Answer- Where public or social issues are the primary focus. issue - Answer- any trend, event, controversy, or public policy development that might affect the corporation. 1.) identify issues 2.)analyze 3.)prioritize 4.) plan responses to the issues 5.) implement responses 6.) evaluate and monitor the results. - Answer- issue manegment 6 steps 1.) responsibility of senior line management. 2.) Issues identification is more important. 3.)Anticipa...

The benefits of pursuing a strategy of social responsibility and corporate citizenship include: - Answer- The positive impact that such a strategy has on the company's image rating, provided the company spends a meaningful amount on socially responsible activities and such spending is sustained over a multi-year period. If a company's managers If a company's manager wants to succeed in creating a differentiation based on competitive advantage (and a potential cost advantage in achieving th...

The most/essential results from the latest decision round that company managers need to review/study in order to guide their strategic moves and decisions to improve their company's overall performance and competitiveness vis-a-vis rivals in the upcoming decision round are - Answer- Comparative competitive efforts section of the competitive intelligence report for each of the four geographic regions Pursuing a strategy of social responsibility and corporate citizenship - Answer- helps increa...

The projected growth in buyer demand for BRANDED athletic footwear is: A) 3-5% annually in North America and Europe-Africa in Years 16-20 and 7-9% annually in Latin America and the Asia Pacific regions in Years 16-20. B) 6-9% annually in all four geographic regions during Years 11-15 and 4-7% annually in all four regions during Years 16-20. C) 5-7% annually in North America during the Year 11-15 periods and 4-6% annually in North America during the Year 16-20 period. D) 10-12% annually in Eu...

Eliminate tariffs on LA - Answer- Build a plant in LA and expand as needed Striving for low labor costs - Answer- Labor costs per pairs produced to the industry low for employee compensation and pairs produced Industry low, average, and high cost benchmarks - Answer- Are worth scrutiny because they tell what degree benchmarks cost for the benchmark cost categories and are competitive with rival companies NOT a good indication your companies costs are too high - Answer- operating profits...

True or false? Although the mechanism of injury may be similar to those for the younger population, data shows increased mortality with similar severity of injury in older adults. - Answer- True In the elderly population, what is decreased physiological reserve? - Answer- aging is characterized by impaired adaptive and homeostatic mechanisms that caused an increased susceptibility to the stress of injury. Insults tolerated by the younger population can lead to devastating results in elderly p...