Jake has changed the SOCIAL PSYCHOLOGICAL CONTEXT.
Context refers to the environment in which communication take place. There are four types of context, which are: cultural, temporal, physical and social psychological context.
Social psychological context refers to the formality or informality of the situation depending on the relationship between the two people that are communicating.<span />
Answer:
Gross pay for the week is $1,500
Net pay for the week is $1,043
Explanation:
The gross pay is computed thus:
Normal rate pay 40 hrs*$24 =$960
Above normal pay(55-40)*$24*1.5 =$540
Gross pay $1,500
Deductions:
Social security(6.0%*$1,500) ($90)
Medicare(1.5%*$1,500) ($22.5)
Federal income tax ($345)
Net pay for the week $1,043
The net pay for the week is gross pay less social security tax,medicare as well as the federal income tax,$1043 is the employee net pay for the week
Obtain a customer signed statement acknowledging that an annuity transaction is not recommended if a customer decides to enter into an annuity transaction that is not based on the insurance producer's or insurer's recommendation.
<h3>Who is responsible for verifying your suitability?</h3>
The insurer or third party delegate authorized pursuant to section 224.
6(c) of Regulation 187 conducts a suitability review prior to the issuance of an insurance product or the effectuation of a sales transaction; and.
The insurer has procedures designed to prevent financial exploitation and abuse.
<h3>What factors are important considerations when determining suitability of an annuity sale?</h3>
Suitability Information Gathered by an Insurer
- Age.
- Annual income.
- Financial situation and needs, including the financial resources you're using to fund the annuity.
- Financial experience.
- Financial goals and objectives.
- Intended use of the annuity.
- Financial time horizon.
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