MrXavier Has an HO-2 Contract with $100,000 Dwelling Coverage,$50,000 Personal

question 37

Multiple Choice

Mr.Xavier has an HO-2 contract with $100,000 dwelling coverage,$50,000 personal property coverage,and a $500 deductible. The dwelling is 50% depreciated. Sewage backs up into the basement and destroys the furnace,which will cost $8,000 to replace. The policy will pay:

• A)nothing because of the water damage exclusion
• B)nothing because the property is not covered
• C)$7,500 because of replacement cost coverage
• D)$3,500 because of actual cash value and the deductible

Explain the potential problems associated with wage incentive plans and their impact on productivity restrictions.

Evaluate the role of pay transparency and its effects on organizational trust and motivation.

Distinguish between pay systems preferred by different types of workers (white-collar vs. blue-collar) and their expectations regarding performance and pay.

Describe strategies for increasing productivity through pay plans while avoiding the restriction of productivity.

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Definitions:

Industrial Sectors

Categories of the economy based on the type of activity performed, such as manufacturing, service, agriculture, and technology.

Employee Groups

Categories or clusters of employees within an organization who share similar job functions, levels, or characteristics.

Executive Compensation Packages

A combination of salary, bonuses, shares, options, and other benefits provided to high-level managers and executives of a company.

Stock Grants

Stock grants refer to the issuance of shares from a company to its employees as a form of compensation.