Which of the Following Is TRUE Regarding Simulation

question 60

Multiple Choice

Which of the following is TRUE regarding simulation?

• A)Small problems can be done by hand.
• B)Most simulations are computerized.
• C)Real-world complications can be included in simulation models.
• D)Simulation is most suitable where standard analytical models are too complex.
• E)All of the above are true.

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Definitions:

Fiduciary Duty

Someone who is required to act for the benefit of another person on all matters within the scope of their relationship; one who owes to another the duties of good faith, loyalty, due care, and disclosure.

Personal Representative

An individual appointed to administer the estate of a deceased person, managing and distributing the person's assets per their will or law.

Treasury Bills

Short-term government securities issued at a discount from the face value and redeemed at maturity for the full face value.

Escheats

The process by which unclaimed or abandoned property reverts back to the state.