Whole life costing - Study guides, Class notes & Summaries

CIPS L4M2Re-buy - correct answer It is not necessary to specify a new specification or to source the market. Call-off or framework agreement. A preferred supplier is in place Modified Buy - correct answer Review of existing contract requirements and making any necessary amendments such as to build additional benefits, streamline the business or to establish new KPIs/SLAs. Where some of the specification or requirements have changed. New Buy - correct answer A new purchase outlines requi...

Michigan Life and Health Final Exam Questions With Verified Answers Making a statement that is false or maliciously critical of the financial condition of an insurer is known as - answerdefamation Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? - answerBusiness overhead expense policy Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the t...

Michigan Life and Health Final Exam Questions With Verified Answers Making a statement that is false or maliciously critical of the financial condition of an insurer is known as - answerdefamation Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? - answerBusiness overhead expense policy Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the t...

Stage 13: Assest management/end of life The procurement professional should evaluate whether the need is still current. If it is and unchanged, the procurement cycle process commences again but from a different stage as the need is already known and understood. If the need is not required the buyer should manage the end of life by reducing stock levels and informing the supplier Anti-bribery procedures -Proportionate procedures: should be in line with the ype of bribery risk and scale tha...

What are the 3+1 stages of absorption costing? 1. Allocation 2. Apportionment 3. Absorption = Production Cost 4. Under/over = Non prod OH Why would you use Absorption Costing? Valuing Inventory Pricing Decisions Establishing profitability What are pros and cons of absorption and marginal costing? Absorption -Avoids varying profits if sales are seasonal -Consistent with accounting standards -Recognises Long Run variable costs -Implies OH related to production = Manipulate profit ...

CIPS L4M2, Exam Review Questions and answers, VERIFIED/ When should Competitive bidding not be used? - -Where price cannot be establish with certainty Where price isn't the only variable Where there are significant set up costs involved Which 3 types of Whole Life Costing (WLC) models can be used in the planning stage? - -Decision support models Simulation models Optimisation models What do Decision Support models do in WLC? - -Identify the issue to find possible alternatives What d...

The branch of dentistry which deals with the replacement of missing parts is called Endodontics Periodontics Orthodontics Prosthodontics Prosthodontics How many months can a life insurance policy normally be backdated from the date of application? 3 6 9 12 6 Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen HIPAA considers which of the following as "individually identifiable health informa...

Michigan Life and Health Final Exam Questions With Verified Answers Making a statement that is false or maliciously critical of the financial condition of an insurer is known as - answerdefamation Which type of business insurance is meant to cover the costs of continuing to do business while the owner is disabled? - answerBusiness overhead expense policy Dorian exercised a nonforfeiture option by using his life policy's cash value to purchase an extended term insurance option. When the t...

CIPS L4M2 EXAM 2024 Re-buy It is not necessary to specify a new specification or to source the market. Call-off or framework agreement. A preferred supplier is in place Modified Buy Review of existing contract requirements and making any necessary amendments such as to build additional benefits, streamline the business or to establish new KPIs/SLAs. Where some of the specification or requirements have changed. New Buy A new purchase outlines requirements that have not been specified befo...

Dynamic Pricing - Answer-Adjusting prices continually to meet the characteristics and needs of individuals and situations; setting prices for a good/service based on the demand for it at the moment based on the availability of supply Uber's Surge Pricing - Answer-Higher demand causes a price multiplier to kick in, increasing rates up to 8x the original price. Model: Increase supply, decrease demand Target Costing - Answer-Reverse engineer a product based on demand at a certain price point ...