Jim Rhoade Thought He Had a Decent Deal with State

question 37

Multiple Choice

Jim Rhoade thought he had a decent deal with State Farm for insurance coverage on his two cars and his home,but a friend gave him a tip about lower premiums at Allstate. After contacting his local Allstate agent,Rhoade had slashed his annual auto premiums by $400 and his homeowner's premium by the same amount. That's because,in addition to considering Rhoade's record,Allstate took into account seemingly unrelated information from his credit report,such as whether he pays bills on time (he does) and whether there had ever been a claim on his home (there hadn't) . Allstate has discovered patterns that indicate that the better the credit report,the more likely the individual is to be a good risk for an insurer. Which type of pattern has Allstate discovered?

• A)sequence  
• B)association  
• C)predictive  
• D)adjacency

Knowing when and how to make appropriate referrals.

Understanding the purpose and implications of codes of ethics in the practice.

Recognizing the limitations and legal implications of confidentiality, especially in specific contexts such as couple and family therapy, and dealing with communicable diseases.

Appreciating the significance of being aware of legal rights and responsibilities to protect clients and practitioners.

---

Definitions:

Functional Cost

Relates to expenses directly tied to specific functions or departments within a business, such as manufacturing or marketing.

Supply Chain Uncertainty

The unpredictability in any aspect of the supply chain, including supply, demand, prices, and lead times, which affects planning and operations.

Customer Analytics

The process of analyzing customer data to understand behavior, preferences, and trends to improve business decisions.

Aggressive Investment

An investment strategy characterized by seeking higher returns through taking on a greater level of risk, typically involving investments in volatile stocks, sectors, or markets.