A Short Document Acknowledging Receipt of an Application and Premium

question 27

Multiple Choice

A short document acknowledging receipt of an application and premium for an insurance policy is called a(n)

• A)codicil.
• B)binder.
• C)power of attorney.
• D)proxy.

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Definitions:

World Trade Organization (WTO)

A permanent institution that sets rules governing trade between its members through panels of trade experts who decide on trade disputes between members and issue binding decisions.

Economic Flows

Economic flows refer to the movement of goods, services, money, and resources among individuals, businesses, and nations, comprising the economic activities of a global economy.

World Trade

The exchange of goods and services and capital across international borders, which allows for economies to grow and standards of living to increase.

Dumping

In international trade, the practice of exporting goods at prices lower than the home market prices, often considered unfair competition.