Question:

Unit 6 Understanding Contracts

Understanding the various kinds of contracts such as insurance or estate planning can be overwhelming. Which is why for this lab, be selecting one of the contract categories discussed in the unit and creating a brochure that takes an in-depth look at it. You may choose to create brochure on Insurance or perhaps Estate Planning (which includes living and last wills) for example.

While you have plenty of creative freedom in terms of how you will format your brochure, you will need to make sure that it addresses whatever category of contracts you have selected. To help you map out the information that you will need to include, use the following checklist to guide your information gathering whether it be from the unit or from online research (likely a combination of both):

An overall explanation of contracts

5 main elements of most contracts

An overall description of the contract category you selected

The purpose (in general) (the purpose of insurance or the purpose of estate planning)

Why are these types of contracts important?

Who might need or use these types of contracts? Why?

At least three examples of contracts that fall within this category (i.e. health insurance) with a detailed description of each

Any other essential information that one might need to know about this particular category of contracts

Your brochure should include a clear title, several images or graphics, and be organized into various sections. Imagine that this brochure could sit on the counter at an insurance agency or estate planning office and offer newcomers valuable information to get them started.

Refer to the rubric below for more information on how you will be graded. Please include a list of any websites or online resources that you use in your research.

1. Most decision-making that relates to the day-to-day running of an organization is non- programmed decision making. (1 Point) O True O False 2. The 'most appropriate' decision is also called 'Satisficing decision'. (1 Point) True O False 3. The probability of a manager making an error in judgment is much greater in nonprogrammed decision-making than in programmed decision-making. (1 Point) O true O FalseA sample of size n is taken from a population with an unknown distribution, with mean u and standard deviation O. Which of the following statements about the sample mean distribution is true? Select one: 0 8. Using the Central Limit Theorem, X approximately follows X . Nu. b. Using the Central Limit Theorem, Xexactly followsx - Ntu. C. without Using the Central Limit Theorem, X approximately follows > . N p. =] 0 d Without Using the Central Limit Theorem, Xexactly follower . No