Identify the Product Definition That Includes the Intended Market User,the

question 33

Multiple Choice

Identify the product definition that includes the intended market user,the problem perceived,the benefits,plus any mandatory features.

• A)Protocol concept
• B)Tested concept
• C)Fully screened concept
• D)Stated concept

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Definitions:

Nonparticipating

A term used to describe policies or investments that do not share in the profits or surplus of a company, such as nonparticipating life insurance policies that do not pay dividends.

Non-cumulative

Refers to types of shares or dividends that do not accumulate or carry over unpaid dividends into future periods.

Non-cumulative

Describes preferred stocks where dividends not declared in a given period do not accumulate and are not required to be paid in the future.

Nonparticipating

In insurance, refers to a policy that does not entitle the policyholder to share in the surplus profits of the insurer.