Assessed Questions Christian Marroquin University of Phoenix Business Law LAW/ JOHN HUSCHEN March 08, 2010 Assessed Questions 1. Select a product with which you are familiar or interested in. What are its product liability issues? What measures may management take to prevent these issues from arising? How may they minimize legal risk? a. A product that I am interested in is the product that I sell. Insurance. This is a product that if not signed or explained properly
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In the case “Conflict of an Insurance Broker”, whether or not A&A presents the Reliable bid to the museum constitutes a potential conflict of interest. As the insurance broker, A&A should be professional to obtain the best insurance coverage for the museum’s needs; more precisely, the market indicates that the value of the needed policy is around $100,000; therefore, A&A should remove Reliable insurance company whose annual premiums quoted was $60,000 from the proposed list, and
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Competitive Strategies and Government Policies ECO3665 Externalities When looking at economics we have learned the invisible hand always pushes the market to arrive at the best outcome for society as a whole. However sometimes what is good for a market or in this case WalMart may not be good for society. WalMart has a global presence which creates negative and positive externalities. WalMart does business with suppliers all over the world and has to obey a variety of government regulations in
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AP ECONOMICS CHAPTER 5 QUIZ 1. The functional distribution of income refers to the: A. division of income between personal taxes, consumption expenditures, and saving. B. division of income on the basis of industry sources, for example, agriculture, transportation, mining, etc. C. distribution of income to basic resource classes, that is, wages, rents, interest, and profits. D. way income is distributed among specific households or spending units. 2. Listed in descending order of relative
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Justification for an Internal Control System Juanita R. Martin ACC/544 December 3, 2012 Robert J. Cornett Justification for an Internal Control System The internal control system plays an important part in a company’s management function. Internal controls keep a company from loss of assets while maintaining objectives, which helps keep the company on track with its mission. The controller’s role is to be a supportive mechanism in helping the management teams in their reporting and financial information
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To: Jason Walter, IFA CEO From: John Doe Issues: • Potential damage to IFA’s reputation and legal consequences if customers and/or regulatory bodies determine IFA is applying profiling practices • ShopSense’s customers may stop using their loyalty cards or even stop shopping at ShopSense entirely • IFA’s customer analytics process could result in the discovery of correlations they did not want to know Problem/Decision: You must determine if purchasing ShopSense’s customer data and using
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Today’s health care market is growing compared to where it used to be when the economy was at an all time low. Providers, health care facilities, insurance companies, and patients have all had to take a different approach in health care. The demand for health care is stronger because it is being made a prominent issue is politics and society. Society is speaking up and politicians are being forced to address their concerns. Health Care is a debatable issue that will take a lot of dedication and
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therefore, “our cost of risk is the minimum insurance premium plus the excess premium plus uninsured costs or losses" (Wood, 2003). In a proactive safety management program, one uses risk principles to identify, assess, and rank safety and health hazards, create a risk assessment matrix, and implement risk control actions. When people are proactive in minimizing risk, the cost of risk decreases. For example, cautious, proactive drivers who are constantly on the lookout for other cars are deemed
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1. Presentation of the Case Life insurance is a contract between an insured and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon the death of the insured person. Depending on the contract, other events such as terminal illness or critical illness may also trigger payment. The policy holder typically pays a premium, either regularly or as a lump sum. Other expenses are also sometimes included in the benefits.
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Moral Hazard and the Mortgage Industry Moral hazard describes behavior when the party responsible for the interests of another party has an incentive to put its interests first (Dowd, 2009). The possibility of it increases when the party does not necessarily suffer the consequences of its actions and thus becomes susceptible to taking more risk because it knows it would be protected. An example of moral hazard is the subprime mortgage crisis, which preceded and “triggered” (Bernanke, 2012) the
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