Which of the Following Statements Is True Regarding Careers in Risk

question 9

Multiple Choice

Which of the following statements is true regarding careers in risk management and insurance going forward?

• A)Employment opportunities in insurance will be limited to sales and claims.
• B)Reduced consumer demand for insurance products will create significant job losses in the industry.
• C)Many job opportunities will be available requiring a wide range of knowledge and skills.
• D)A government takeover of the insurance industry is predicted,reducing the number of private sector jobs.

Recognize the distinct roles of coaching and counseling in organizational and individual development.

Appreciate the importance of setting realistic goals to increase employee motivation.

Acknowledge the ethics and effectiveness of feedback communication.

Understand the importance and effectiveness of different management strategies in resolving staff attitude problems.

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Definitions:

Machine-Hour

A unit of measure representing the operation of one machine for one hour, used in cost accounting to allocate expenses to products based on the time machines are used in their production.

Overhead Applied

The amount of overhead cost allocated to products or job orders based on the predetermined overhead rate, used for cost accounting purposes.

Machining Department

A specific division within a manufacturing facility where machining processes such as cutting, drilling, or milling are performed on workpieces to produce finished parts.

Overhead Rates

Ratios used to allocate indirect costs to products or services, based on a predetermined activity base such as labor hours or machine hours.