The Individual Designated by the Owner of the Life Insurance

question 26

Multiple Choice

The individual designated by the owner of the life insurance policy to receive the policy's proceeds upon the death of the insured is called the

• A)policy holder.
• B)beneficiary.
• C)insured.
• D)actuary.

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Definitions:

LMX Theory

Leadership Member Exchange theory focuses on the nature of the relationship between a leader and their followers, suggesting that leaders form unique bonds with each member, which can affect team dynamics and performance.

LMX Theory

Stands for Leader-Member Exchange theory, highlighting the distinct and unique relationships leaders form with each of their followers, which can lead to varying levels of job satisfaction and performance outcomes.

Negotiated Role

A role in a team or organization that is defined through the process of negotiation rather than assigned by hierarchy or tradition, often allowing for more flexible adaptation to changing needs.

LMX Theory

Leader-Member Exchange theory, suggesting that leaders develop unique one-to-one relationships with each of the people reporting to them.