In the ISO Commercial Crime Coverage Form,robbery Is Defined as the

question 38

Multiple Choice

In the ISO Commercial Crime Coverage form,robbery is defined as the

• A)unlawful taking of property to the deprivation of the insured.
• B)unlawful taking of property from the care and custody of a person by someone who has caused or threatens to cause bodily harm or who has committed an unlawful act witnessed by that person.
• C)unlawful taking of money or securities through the alteration of a negotiable instrument.
• D)unlawful taking of property from inside the premises by someone who unlawfully enters or leaves the premises as evidenced by marks of forcible entry or exit.

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Definitions:

Standard Costs

Pre-determined or estimated costs of manufacturing, selling, or performing a service under normal conditions.

Management By Exception

A management strategy where only significant deviations from a budget or plan are brought to the attention of management.

Ideal Standards

Benchmark levels of performance set at the highest achievable conditions without allowances for normal inefficiencies.

Master Budget

The Master Budget is a comprehensive financial planning document that consolidates all of a business's individual budgets, providing a complete financial overview for a future period.