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Question
A comparison of variable life insurance to a standard whole life plan would reveal that:
A. they are essentially identical.
B. variable life offers only pure insurance but does so at a very low cost, while a standard whole life plan costs more but offers both insurance and a savings plan.
C. both a standard whole life and variable life insurance offer both life insurance and savings, but variable life invests the savings more aggressively than whole life.
D. variable life is only available to people who want at least $1 million in coverage--and are willing to pay for it.
Answer
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Related questions
Q:
(p. 299) ___________ is the process of training and educating employees to become good managers and then developing their managerial skills over time.
A. Management development
B. Vestibule training
C. Pre-mentoring
D. Self-actualization training
Q:
(p. 298) _________ is a popular form of distance learning.
A. Job rotation
B. Vestibule training
C. Role playing
D. Online training
Q:
(p. 297) ____________ introduces new employees to the organization, their fellow workers, their supervisors, and to the policies, practices, and objectives of the firm.
A. Vestibule training
B. Employee initiation
C. Employee orientation
D. Job specification
Q:
(p. 296) Which of the following statements about contingent workers is most accurate?
A. More than 75 percent of contingent workers are employed in office-clerical work.
B. The number of contingent workers in the U.S. has steadily declined over the past decade.
C. U.S. labor laws require firms to offer contingent employees the same wages and benefits as other employees performing similar work.
D. The most common reason firms give for hiring contingent workers is a varying need for employees.
Q:
(p. 295) Preemployment physical examinations are:
A. an excellent way to screen out unwanted employees.
B. legal in some states, but only if given to everyone applying for the position.
C. illegal under current employment legislation in all 50 states.
D. legal in all states, but seldom used.
Q:
(p. 295) Jolie is a human resource manager who is currently involved in selecting employees. Which of the following activities is Jolie most likely to be working on in her present assignment?
A. performing a job analysis
B. writing a help wanted ad
C. conducting an orientation program
D. completing a background investigation
Q:
(p. 294-295) Employment testing:
A. was declared illegal by the EEOC in 1989, because it was often used to discriminate against women and minorities.
B. is legal, but has been shown to be a very poor predictor of worker performance.
C. should be directly related to the job.
D. should focus on the most basic and general skills rather than on skills directly related to the job.
Q:
(p. 295) _____________ workers do not have the expectation of regular, full-time employment.
A. Contingent
B. Apprenticed
C. Indentured
D. Underemployed
Q:
(p. 295) A _________________ is a check of a potential employee's work record, academic record, credit history, and recommendations.
A. personality profile
B. background investigation
C. fidelity appraisal
D. character review
Q:
(p. 294) During the employee selection process, the initial interview is often conducted by:
A. the current workers in the applicant's department.
B. a member of the human resources department staff.
C. a selection committee consisting of managers from all departments within the organization.
D. the company's affirmative action officer.
Q:
(p. 291) Which of the following statements identifies a key difference between a job description and a job specification?
A. A job description is concerned with the short-run objectives of a job, but a job specification is concerned with the job's long-run objectives.
B. A job description is based on a human resource inventory, while a job specification is the result of a performance appraisal.
C. A job description is a statement about the job, while a job specification is a statement about the person who does the job.
D. A job description is a brief summary of what a job involves, while a job specification is a detailed and technically complete statement of what a job involves.
Q:
(p. 290-291) A human resource inventory is designed to reveal whether:
A. all workers are paid a fair wage.
B. the firm has enough land and capital to use with its labor.
C. the firm's labor force is technically up-to-date and well trained.
D. worker morale is high or low.
Q:
(p. 292) The __________, which is developed from the previous four steps of the human resource planning process, addresses how the firm will accomplish a wide array of human resource functions such as recruiting, selecting, training and developing, appraising, compensating, and scheduling its employees.
A. strategic plan
B. tactical plan
C. job specification
D. Gantt chart
Q:
(p. 290-291) A(n) __________ is prepared as part of the human resource planning process, and indicates the characteristics and qualifications of the organization's labor force, thus helping the firm determine whether its employees are technically up-to-date and adequately trained.
A. job analysis
B. performance appraisal
C. human resource inventory
D. organization chart
Q:
(p. 289) In coming years, high tech growth areas such as computers, biotechnology, and robots are likely to experience a:
A. surplus of labor.
B. significant decline in market demand, leading to a stagnant labor market.
C. shortage of skilled labor.
D. stable equilibrium in the labor market.
Q:
(p. 289) Today, human resource management has become so important that in many firms it has become:
A. a function of managers in all areas of the organization.
B. the sole responsibility of the firm's legal staff.
C. a function handled only by specialists in the human resource department.
D. a function handled only by the firm's top management.
Q:
(p. 288) One of the key functions of human resource management is:
A. departmentalizing.
B. recruiting.
C. budgeting.
D. auditing.
Q:
(p. 313) The concept of "reasonable accommodations" means that all workers should be treated in the same manner.
Q:
(p. 312) Reverse discrimination is the term the EEOC uses to refer to activities designed to "right past wrongs" that resulted from discrimination against women and minorities.
Q:
(p. 310) The "employment at will" doctrine maintained that a firm could only fire a worker if it could demonstrate "just cause."
Q:
(p. 309) Managers at the Halperin Credit Union are concerned that many of the company's employees are frequently late for work and appear to be dealing with personal problems during work hours. Job sharing might be a good staffing arrangement for Halperin to implement.
Q:
(p. 309) Job sharing tends to increase absenteeism and tardiness, because part-time workers are not as dedicated and loyal as full-time workers.
Q:
A variable life insurance policy is considered riskier than a traditional whole life policy because it:A. invests savings more aggressively in securities that are riskier but offer higher potential returns.B. has no disability provision to waive premiums in the event of a serious accident or prolonged illness.C. may not allow the holder to renew the policy after the initial five year period has elapsed.D. pays only a very small death benefit unless the policy holder lives for at least 12 years after taking out the policy.
Q:
Hillary and Bill are married and have a young child. Both work, but Hillary earns a higher salary than Bill. Insurance experts suggest that:A. there is no real need for this couple to have life insurance, since they both are employed.B. the couple should take out equal amounts of life insurance for both Bill and Hillary.C. the couple should take out life insurance on both Hillary and Bill, but coverage on Hillary should be greater than coverage on Bill.D. the couple should take out a life insurance policy on their child, but do not need one on themselves.
Q:
The purpose of a rider on a homeowner's policy is to:A. provide coverage for items that the standard policy does not cover.B. limit the insurance company's liability for certain types of losses.C. waive the provision that requires the owners to get a health exam.D. allow the policy holder to obtain health, disability, and auto insurance under their homeowner's plan.
Q:
________ insurance provides protection from the cost of medical care for illnesses and injuries.A. TermB. HealthC. RentersD. Homeowner's
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Your chances of becoming disabled at an early age are ________ than your chance of dying from an accident.A. the sameB. much lessC. much greaterD. slightly less
Q:
Which of the following is a form of whole life insurance that provides a death benefit that varies with the performance of the investments of the insurance company?A. flexible whole life insuranceB. variable life insuranceC. adjustable benefit insuranceD. multiyear level-premium insurance
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Which of the following is a new form of term insurance that guarantees fixed premiums for the life of the policy?A. universal life insuranceB. planned annuity life insuranceC. declining coverage, fixed payment insuranceD. multiyear level-premium insurance
Q:
Which of the following is true of credit cards?A. They are a cheaper way to finance your education.B. They are an efficient way to keep track of purchases.C. They are an effective way of controlling the amount of debt the consumer incurs.D. They are less convenient than carrying cash or writing a check.