Which of the Following Is the Ability for Management to Make

question 20

Multiple Choice

Which of the following is the ability for management to make decisions and to specify how those decisions will be carried out?

• A) control
• B) efficiency
• C) responsiveness
• D) empowerment

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Definitions:

Appraisal Clause

A provision in an insurance policy requiring that any disagreement on the value of a claim be determined through an appraisal process.

Insurance Policy

A contract between an insurer and the insured, outlining the terms for coverage of specific risks in exchange for premiums.

Antilapse Clause

A provision in a will or estate plan that allows for the substitution of beneficiaries in the event the original beneficiary predeceases the testator.

Insurance Policy

A contract between an insurer and a policyholder that specifies the terms under which the insurer agrees to pay for losses or damages to the insured.