Examlex
Match the term with its definition.Some terms may not be used
a.Actual cash value
b.Aggregate stop loss limit
c.Direct loss
d.Disability buyout insurance
e.Disability insurance
f.Indirect loss
g.Loss avoidance
h.Loss prevention
i.Loss reduction
j.Replacement value of property
k.Specific stop loss limit
-A business's per-employee limit on self-funding for medical claims.
Sunk Costs
Costs that have already been incurred and cannot be recovered or altered by future actions or decisions.
Opportunity Cost
Opportunity cost represents the benefit that is missed or given up when choosing one option over another, an important concept in decision-making.
Tactical Decision
Short-term choices made by an organization, often in response to immediate challenges, that are aimed at implementing strategies effectively.
Qualitative Factors
Non-numerical elements that influence business decisions, like brand reputation or customer satisfaction.
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