To Build Relationships, Firms Focus on the Lifetime ________ of the Relationship

question 24

Multiple Choice

To build relationships, firms focus on the lifetime ________ of the relationship, not how much money is made during each transaction.

• A)cost
• B)profitability
• C)investment
• D)expense
• E)worth

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Definitions:

Indemnity

A contractual obligation of one party to compensate the loss incurred by another party due to the acts of the indemnitor or any other party.

Incontestability Clause

A clause in insurance policies that makes the policy non-contestable after it has been in force for a certain period, except under certain conditions.

Insurance Policy

A contract between an insurer and a policyholder that defines the claims which the insurer is legally required to pay.

Sale of Real Estate

The process of transferring ownership of property from one party to another, involving legal documentation and financial transactions.