Suppose You Hear a Report That Says the Chances of Developing

question 1

Multiple Choice

Suppose you hear a report that says the chances of developing lung cancer increase by 10 times, just by living in the city versus the country.How do you interpret this?

• A)You had better move to the country; 10 times is a huge difference.
• B)You need to find out what the baseline risk is and what confounding variables were adjusted for before you can determine how serious this is for you.
• C)You should just stay put; no one could possibly come up with a valid statistic that measures this.
• D)You should ignore the results.Your increased risk should depend on whether or not your house contains radon gas, not on whether the house is in the city or the country.

Comprehend the warranties and liabilities associated with encoding checks in the banking process.

Understand the implications of not reporting unauthorized transactions or forgeries in a timely manner according to banking regulations.

Identify the forms and implications of electronic money in financial transactions.

Grasp the legal recovery options available when dealing with forged endorsements and unauthorized check payments.

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Definitions:

Framework Agreement

A long-term agreement with suppliers that sets out terms and conditions under which specific purchases (calls-offs) can be made throughout the term.

Direct Authority

Authority given to an individual within an organization where they have the power to make decisions and expect those decisions to be followed.

Express Authority

Legal power explicitly granted to an individual or organization to perform certain actions or make decisions.

Apparent Authority

Refers to a situation where a third party reasonably believes an agent has the authority to act on behalf of a principal, even if the agent does not have such authority.