What is a reason for sellers in a monopoly market to have a great deal of power over price? There are no barriers to entry or exit. Their products have many close substitutes. There are only a handful of sellers in the market. Asymmetric information exists in the market.

Question 22 of 95 All of the following are true about variable products EXCEPT A. The minimum death benefit is guaranteed. B. The premiums are invested in the insurer's general account. C. Policyowners bear the investment risk. D. The cash value is not guaranteed.

Which of the following statements is TRUE regarding an Agent's Report during the policy application process? A. It provides the agent's personal observations concerning the proposed insured. B. It becomes part of the entire contract after the policy is issued. C. It is a required element of the contract. D. It is only used when the initial premium is not paid with the application.

What is the present value (principal) of the investment amount that grows to $\$ 24,300$ in 5 years if the interest rate is $7\% $ compounded continuously? $\$ 17,123.92$ $\$ 18,290.80$ $\$ 18,275.83$ $\$ 17,768.65$

Choose whether the statement is true or false: Potable water and lavatory service should not be completed at the same time. True False

Question 88 of 95 Which statement is NOT true regarding a policy summary? A. It must be combined with a sales illustration. B. It must include the generic name of the basic policy and each rider. C. It is generally given to applicants before acceptance of the initial premium. D. It must include the date the policy summary is prepared.

Which of the following actions should a billing and coding specialist take when submitting a claim to Medicaid for a patient who has primary and secondary insurance coverage? Attach the remittance advice from the primary insurance along with the Medicaid claim. Submit the claim and remittance advice to the secondary insurance. Attach the remittance advice fr from the patient's most recent visit to confirm Medicaid eligibility. Submit both claims simultaneously and then review the remittance advice from both to determine which one provided more coverage.

Which is the primary source of information used fo insurance underwriting? A. Private investigations B. Medical records C. Application D. Applicant interviews

The Hospital Emergency Incident Command System (HICS) is an emergency management system, which employs a logical management structure defined responsibilities; clear reporting channels, and a common nomenclature to help unify hospitals with other emergency responders. True False

Which statement is NOT true regarding government intervention in the economy? If the economy is doing badly, the government should cut spending to improve it. Progressive income tax is a form of automatic stabilizer. Most suggest that the government should promote macroeconomic stability. Unemployment insurance is an automatic economic stabilizer.

down. To stop this, the U.S. government uses antitrust laws. These laws prevent companies from becoming too powerful. They stop unfair business deals and break up companies that are too big. Antitrust laws protect the market and keep it fair. The government also uses regulations. These are rules that businesses must follow. For example, companies must pay at least the minimum wage. They must keep workers safe and cannot pollute the air or water too much. These rules protect workers, consumers, and the environment. Regulations are important because they help create balance. Businesses still have freedom, but they also have to follow rules that protect people. This helps the economy grow while avoiding some of the big problems that happen in systems that are only capitalist or only socialist. In the end, the United States is mostly capitalist, but it includes many socialist ideas too. This is what makes it a mixed economy. It tries to give people opportunity, while also making sure there is a safety net. It helps protect competition, prevent monopolies, and support people in need. The goal is to make the system work for as many people as possible. Check-on-Learning &Reflection Questions (20 Total) 1. What is a mixed economy? 2. What two systems are combined in a mixed economy? 3. In capitalism, who owns the 4. What is profit? 5. What does innovation mean?