Scenario: Flood Area Suppose You Own a Home That Is

question 102

Multiple Choice

Scenario: Flood Area Suppose you own a home that is estimated to be worth $250,000.You live in a potential flood area; as a result, the probability that you will lose your home to a flood is 30%.
(Scenario: Flood Area) Look at the scenario Flood Area.Suppose an insurance company offers you flood insurance.Most likely this flood insurance would require a premium payment:

• A)greater than $250,000.
• B)greater than $75,000.
• C)less than $15,000.
• D)equal to $100,000.

---

Definitions:

Political-Legal Environment

The aspect of the external environment that involves the impact of political decisions and legal regulations on an organization.

Increased Personal Accountability

This term refers to situations or environments where individuals are expected to take greater responsibility for their actions and outcomes, often in professional settings.

Alternative Dispute Resolution

A range of processes and techniques used to resolve conflicts or disputes without traditional legal proceedings, including mediation and arbitration.

Out-Of-Court Settlements

Agreements made privately between disputing parties without the need for a formal court ruling.