Replacement rule would apply if an agent knows an applicant is going to cash in an old policy and use the funds to purchase new insurance.
Insurance refers to a type of risk management in which the insurer provides the insured with protection from risks of all kinds - financial, health, accidental, etc.
The insured is also called the policyholder, and he makes a payment called premium to be insured. If the specified event for which the insurance cover is provided takes place, the insurer is bound to compensate the insured financially.
A replacement rule delineates the process in which the premium payments on existing policy is discontinued or forfeited, and a new policy is purchased.
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When a board of directors determines a selected profit goal, advertising managers commonly enforce a target return objective.
Target return Objective-
The goal return objective is to offer sufficient spending cash and hold the value of the portfolio after taking into consideration taxes and inflation.
The target return goal matters as it determines how the target return is calculated. Some people, which includes retirees, live on profits from their investment portfolios. A target return is actually the charge of return on an investment that a person or enterprise desires to earn. People have distinctive motives or goals in thoughts once they select to apply target returns as an investment tool. The target return goal matters as it determines how the target return is calculated.
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When a company determines that a group of people of certain age range and gender will likely buy its product, it is finding its: <em>potential customers/market target.</em>
Every product has a specific group of people that share similar characteristics that it can meet their needs. The unique needs of that group of people is what companies and producers focus on to exploit in creating product and marketing strategy for.
Such unique group of people constitute the market target or potential customers for such product.
Therefore, when a company determines that a group of people of certain age range and gender will likely buy its product, it is finding its potential customers/market target.
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Answer: 33.3%
Explanation: The predetermined overhead rate allocates the manufacturing overhead to products. This is based on an estimate, as it is done at the beginning of the financial year. It uses an allocation base, which is usually a cost driver. A cost driver is a type of activity that causes a change in the cost of said activity. Examples of cost drivers usually used are: direct labour hours or machine hours.
The formula for calculating the predetermined overhead rate is:
Total estimated overhead costs ÷ total estimated overhead allocation base (estimated direct labour costs is used)
300 000 ÷ 900 000 = 0.33333 × 100 = 33.3%
