Management Notes

Reference Notes for Management

National Alliance of Young Entrepreneurs (NAYE) Sponsored an Entrepreneurial Development scheme with Bank of India in______________.

National Alliance of Young Entrepreneurs (NAYE) Sponsored an Entrepreneurial Development scheme with Bank of India in______________.

National Alliance of Young Entrepreneurs (NAYE) Sponsored an Entrepreneurial Development scheme with Bank of India in______________.

 Options:

A. January 1920.
B. August 1920.
C. January 1972.
D. August 1972.

The Correct Answer Is:

  • D. August 1972.

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The auditor’s permanent working paper file should not normally, include

The auditor’s permanent working paper file should not normally, include

The auditor’s permanent working paper file should not normally, include

 Options:

a) extracts from client’s bank statements
b) past year’s financial statements
c) attorney’s letters
b) debt agreements

The Correct Answer Is:

  • a) extracts from client’s bank statements

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Professional skepticism requires that the auditor assume that management is

Professional skepticism requires that the auditor assume that management is

Professional skepticism requires that the auditor assume that management is

 Options:

a) reasonably honest
b) Neither honest nor dishonest
c) Not necessarily honest
d) Dishonest unless proved otherwise

The Correct Answer Is:

  • b) Neither honest nor dishonest

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Auditing standards differ from audit procedures in that procedures relate to

Auditing standards differ from audit procedures in that procedures relate to

Auditing standards differ from audit procedures in that procedures relate to

 Options:

a) Audit assumptions
b) acts to be performed
c) quality criterion
d) methods of work

The Correct Answer Is:

  • b) acts to be performed

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The monthly benefit for an individual disability income policy is usually limited to a percentage of the insured’s income in order to avoid

The monthly benefit for an individual disability income policy is usually limited to a percentage of the insured's income in order to avoid

The monthly benefit for an individual disability income policy is usually limited to a percentage of the insured’s income in order to avoid

 Options:

  1. claims
  2. the elimination period
  3. over insurance
  4. adverse selection

The Correct Answer Is:

  • over insurance

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Which disability policy provision would address any concerns of the value of the benefits decreasing over time?

Which disability policy provision would address any concerns of the value of the benefits decreasing over time

Which disability policy provision would address any concerns of the value of the benefits decreasing over time?

 Options:

Cost of living benefit
Inflation rider benefit
Policy enhancement benefit
Interest sensitive benefit

The Correct Answer Is:

  • Cost of living benefit

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When a policyowner exchanges a term policy for a whole life policy without providing proof of good health, which of these apply?

When a policyowner exchanges a term policy for a whole life policy without providing proof of good health, which of these apply

When a policyowner exchanges a term policy for a whole life policy without providing proof of good health, which of these apply?

 Options:

Extended term option
Conversion provision
1035 Exchange
Incontestable period

The Correct Answer Is:

  • Conversion provision

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What type of life policy has a death benefit that adjusts periodically and is written for a specific period of time?

What type of life policy has a death benefit that adjusts periodically and is written for a specific period of time

What type of life policy has a death benefit that adjusts periodically and is written for a specific period of time?

 Options:

Modified whole life
20-year paid up policy
Endowment
Decreasing term

The Correct Answer Is:

  • Decreasing term

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What kind of life policy either pays the face value upon the death of the insured or when the insured reaches age 100?

What kind of life policy either pays the face value upon the death of the insured or when the insured reaches age 100

What kind of life policy either pays the face value upon the death of the insured or when the insured reaches age 100?

 Options:

Term Life
Whole Life
Credit Life
Universal Life

The Correct Answer Is:

  • Whole Life

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Which of the following combination plans is designed to protect an insured from an unpaid mortgage balance upon premature death?

Which of the following combination plans is designed to protect an insured from an unpaid mortgage balance upon premature death

Which of the following combination plans is designed to protect an insured from an unpaid mortgage balance upon premature death?

 Options:

Survivorship Life
Family Plan
Joint Life
Whole Life and Level Term Rider

The Correct Answer Is:

  • Joint Life

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Product choice is greatly affected by economic circumstances. All of the following would be among those circumstances EXCEPT _________.

Product choice is greatly affected by economic circumstances. All of the following would be among those circumstances EXCEPT _________.

Product choice is greatly affected by economic circumstances. All of the following would be among those circumstances EXCEPT _________.

 Options:

A. spendable income
B. savings and assets
C. debts
D. occupation

The Correct Answer Is:

  • D. occupation

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