What Form of Processes Include Loan Processing for a Bank

question 41

Multiple Choice

What form of processes include loan processing for a bank, claims processing for an insurance company, reservation processing for a hotel, and baggage handling for an airline?

• A) Customer-facing processes
• B) Business-facing processes
• C) Industry-specific customer-facing processes
• D) All of the choices are correct

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Definitions:

Proportionate Costs

Expenses that vary in relation to the level of activity or volume of output in a business, similar to variable costs.

Wholesale Costs

The price charged for goods or materials when sold in large quantities to retailers or other businesses, as opposed to retail prices charged to consumers.

Overhead Expenses

Costs not directly tied to the production of goods or services but necessary for running a business, such as rent and utilities.

Fraction Form

A mathematical expression representing the division of one quantity by another.