As a General Rule, If an Applicant Suffers a Loss

question 27

Multiple Choice

As a general rule, if an applicant suffers a loss after applying but before the insurer formally accepts the application, the:

• A) insurer must cover the loss.
• B) applicant and the insured must bear the loss equally.
• C) applicant must bear the loss.
• D) insurer must cover the loss only if there is no binder.

Recognize the components of human capital that contribute to a competitive advantage.

Understand the fundamental purposes and benefits of studying organizational behavior.

Describe the management skills necessary for organizational effectiveness.

Explain the concept of human capital value and its accumulation for competitive advantage.

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Definitions:

White Men

Refers to males who are identified as white, often discussed in the context of social, economic, and political advantages related to race and gender.

Painful Event

An occurrence that causes significant emotional, physical, or psychological distress to an individual.

Shocking Event

An occurrence that is surprising, unsettling, or disturbing to the public or an individual, often leading to widespread reaction or change.

Ethnocentric Bias

The tendency to view other cultures from the perspective of one's own, often leading to misinterpretation or judgment based on one's own cultural standards.