Demetrius Was Turned Down When He Attempted to Buy a Life

question 19

Multiple Choice

Demetrius was turned down when he attempted to buy a life insurance policy on his former Introduction to Business instructor.The most likely reason the insurance company turned down his attempt to insure the life of his former instructor was that:

• A)The chance of the loss could not be measured.
• B)He did not have an insurable interest in the instructor's life.
• C)The instructor had already taken out a policy.
• D)The loss would not be accidental.

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Definitions:

Scope of Management

The range of activities, responsibilities, and functions that managers are required to perform in guiding an organization towards its objectives.

Home-Country Standards

The regulatory and legal requirements or cultural norms from an individual's or corporation's country of origin that influence their operations abroad.

Host-Country Standards

The regulations, customs, and practices that prevail in the country where a multinational company operates, as opposed to its home country standards.

Classical Economic Model

A theory or approach in economics that emphasizes free markets, the role of competition, and the minimal involvement of government in the economy.