Examlex

Solved

Which of the Following Is Determined by a Customer's Personal

question 49

Multiple Choice

Which of the following is determined by a customer's personal evaluation of the benefits and costs of a market offering relative to those of competing offers?


Definitions:

Policy Provider

An entity or organization that issues policies, typically in the context of insurance, offering coverage for various risks.

Underwriter

A party who receives payments from an insured party and makes the payment to the beneficiary.

Insurer

The party who receives payments from the insured party and makes the payment to the beneficiary.

Mailbox Rule

A rule which holds that an acceptance is valid when it is placed in the mailbox, whereas a revocation is effective only when received by the offeree. In some jurisdictions the mailbox rule has been expanded to faxes.

Related Questions