Management Notes

Reference Notes for Management

Under a Graded Premium Whole Life policy,

Under a Graded Premium Whole Life policy,

Under a Graded Premium Whole Life policy,

 Options:

  1. The Premium Increases Each Year During The Early Years Of The Contract And Remains The Same After That Time
  2. The Premium Decreases Each Year During The Early Years Of The Contract And Remains The Same After That Time
  3. The Premium Can Be Adjusted By The Policyowner At Anytime
  4. The Premium Always Remains The Same While The Death Benefit Increases During The Early Years

The Correct Answer Is:

a. The Premium Increases Each Year During The Early Years Of The Contract And Remains The Same After That Time

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Which is true concerning a Variable Universal Life policy?

Which is true concerning a Variable Universal Life policy?

Which is true concerning a Variable Universal Life policy?

 Options:

  1. Policyowner controls where the investment will go and selects the amount of the premium payment
  2. Policyowner has no say where the investment will go but can choose the premium mode
  3. The investment vehicle for this type of policy is held in the insurer’s general portfolio
  4. The death benefit can vary but the policyowner has no say in the premium amount paid

The Correct Answer Is:

a. Policyowner controls where the investment will go and selects the amount of the premium payment

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What does a Functionalist consider when studying a phenomenon like the Occupy Wall Street movement?

What does a Functionalist consider when studying a phenomenon like the Occupy Wall Street movement?

What does a Functionalist consider when studying a phenomenon like the Occupy Wall Street movement?

 Options:

a. The minute functions that every person at the protests plays in the whole
b. The internal conflicts that play out within such a diverse and leaderless group
c. How the movement contributes to the stability of society by offering the discontented a safe, controlled outlet for dissension
d. The factions and divisions that form within the movement

The Correct Answer Is:

c. How the movement contributes to the stability of society by offering the discontented a safe, controlled outlet for dissension

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The major difference between invention and discovery is:

The major difference between invention and discovery is:

The major difference between invention and discovery is:

 Options:

a. Invention is based on technology, whereas discovery is usually based on culture
b. Discovery involves finding something that already exists, but invention puts things together
in a new way.
c. Invention refers to material culture, whereas discovery can be material or theoretic, like laws
of physics
d. Invention is typically used to refer to international objects, whereas discovery refers to that
which is local to one’s culture

The Correct Answer Is:

b. Discovery involves finding something that already exists, but invention puts things together
in a new way.

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Which statement illustrates value neutrality?

Which statement illustrates value neutrality?

Which statement illustrates value neutrality?

 Options:

a. Obesity in children is obviously a result of parental neglect and, therefore, schools should take a greater role to prevent it
b. In 2003, states like Arkansas adopted laws requiring elementary schools to remove soft drink vending machines from schools
c. Merely restricting children’s access to junk food at school is not enough to prevent obesity
d. Physical activity and healthy eating are a fundamental part of a child’s education

The Correct Answer Is:

b. In 2003, states like Arkansas adopted laws requiring elementary schools to remove soft drink vending machines from schools

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Which statement provides the best operational definition of “childhood obesity”?

Which statement provides the best operational definition of “childhood obesity”?

Which statement provides the best operational definition of “childhood obesity”?

 Options:

a. Children who eat unhealthy foods and spend too much time watching television and playing video games
b. A distressing trend that can lead to health issues including type 2 diabetes and heart disease
c. Body weight at least 20% higher than a healthy weight for a child of that height
d. The tendency of children today to weigh more than children of earlier generations

The Correct Answer Is:

c. Body weight at least 20% higher than a healthy weight for a child of that height

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The advantages of using an export strategy to build a customer base

The advantages of using an export strategy to build a customer base

The advantages of using an export strategy to build a customer base

 Options:

A. being able to minimize shipping costs, avoiding tariffs, and curbing the effects of fluctuating exchange rates.
B. minimizing its risk and direct investments requirements.
C. being cheaper and more cost effective than licensing and franchising.
D. being cheaper and more cost effective than a multicountry strategy.
E. being more suited to accommodating local buyer tastes and host government regulations than a global strategy.

The Correct Answer Is:

B. minimizing its risk and direct investments requirements.

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Which of the following statements about drp is not true?

Which of the following statements about drp is not true?

Which of the following statements about drp is not true?

 Options:

A. the goal of a DRP system is small and frequent replenishment within the bounds of economical ordering and shipping.
B. Effective use of DRP requires an integrated information system to rapidly convey planned order releases from one level to the next.
C. The DRP procedure starts with the forecast at the supplier level
D. When dependent techniques are used in the supply chain, they are called distribution resource planning (DRP)

The Correct Answer Is:

C. The DRP procedure starts with the forecast at the supplier level

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Conceptual skills consist of ____.

Conceptual skills consist of ____.

Conceptual skills consist of ____.

 Options:

A. the ability to think practically
B. the ability to think analytically, to visualize an organization as a whole, and to understand how the parts work together
C. the job-specific knowledge needed to perform well in a specialized field
D. the ability to work well in cooperation with other people to get things done
E. the ability to think in a logical manner

The Correct Answer Is:

B. the ability to think analytically, to visualize an organization as a whole, and to understand how the parts work together

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A company weakness or competitive deficiency

A company weakness or competitive deficiency

A company weakness or competitive deficiency

 Options:

A. represents a problem that needs to be turned into a strength because weaknesses prevent a firm from being a winner in the marketplace.
B. causes the company to fall into a lower strategic group than it otherwise could compete in.
C. prevents a company from having a distinctive competence.
D. usually stems from having a missing link or links in the industry value chain.
E. are shortcomings that constitute competitive liabilities.

The Correct Answer Is:

E. are shortcomings that constitute competitive liabilities.

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A company’s resources and capabilities represent

A company's resources and capabilities represent

A company’s resources and capabilities represent

 Options:

A. the firm’s net working capital and related determinants for measuring operating performance and capabilities.
B. the firm’s competitive assets, which are considered big determinants of its competitiveness and ability to succeed in the marketplace.
C. whether the firm has the industry’s most efficient value chain.
D. management’s source of funding of new strategic initiatives.
E. All of these.

The Correct Answer Is:

B. the firm’s competitive assets, which are considered big determinants of its competitiveness and ability to succeed in the marketplace.

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In recent years, the speedy flow of information through technology has

In recent years, the speedy flow of information through technology has

In recent years, the speedy flow of information through technology has

 Options:

A. made it harder for people worldwide to see how others work and live.
B. strengthened national boundaries and made countries more self-contained.
C. created a borderless world with global competitors, customers, and citizens.
D. ensured that the U.S. is unrivaled by other companies in all industries.
E. made the real flow of financial activity align with political boundaries between countries.

The Correct Answer Is:

C. created a borderless world with global competitors, customers, and citizens.

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