Answer: To afford to retire
Explanation: The life cycle theory was established by Modigliani in 1957. This theory states that a rational individual manages its expenses with the motive of saving sufficient amount till his or her retirement.
As per this theory, the individual consumes almost same amount of income which leads to the situation of borrowing in times of low income and savings in times of high income.
However the minor differences leads to savings high than borrowings in times of low income the individual significant lowers his or her capital expenditure.
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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Answer:
Option A, selling losers quickly, is the right answer.
Explanation:
According to some researchers and their investigation consistency factors has the potential to influence feelings of regret. Regret may emerge as a function of consistency and discrepancy between an individual's orientation and effort of an evaluative decision. Whenever the decision-maker approves an orientation of serving errors associated with the actions are generally more consistent and thus led to comparatively less feeling of regret.
Answer:
true
Explanation:
employees play a significant role in the success of a service based business because they build an atmosphere of trust , confidence and loyalty among the customer by interacting with the customer while the service is being provided.
Answer:
The correct answer is option B.
Explanation:
In 2017, Lynx earned an accounting profit of $3 million.
Lynx's production facilities might have also been used to produce components for mobile phones, which would have generated $2 million in revenues and saved the company $500,000 in production costs.
The accounting profit involves only explicit costs. While economic profit includes both explicit as well as implicit cost.
Here, the implicit cost is the opportunity cost of producing toys components. Lynx could have earned greater profit if it produced components for mobile phone and also could have saved cost of production.
Economic profit
= accounting profit - implicit cost
= $3 million - ($2 million + $500,000)
= $3 million - $2.5 million
= $500,000
So, Lynx had an economic profit of $500,000.
