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What is a Spot Loan? A spot loan has different meanings as used in different contexts. It refers to an alternative lending scheme where a loan is obtained online but with a higher interest rate. This term also refers to a lender that offers borrowers loans in installment with certain loan terms. Spot loans can be obtained by individuals for personal...
1 min reading timeWho Can Sign Contracts for a Company? The question, “who can sign contracts on behalf of a corporation” is more complex than it appears at first glance. This question concerns the level of authority that an individual possesses. Authority is based upon two factors, the authority intended by the employer and the authority expected or perceived by thi...
3 min reading timeWhat is Marginal Cost? Marginal cost is the additional cost of producing one more unit of output. It is not the cost per unit of all units produced, but only the next one (or next few). We calculate marginal cost by taking the change in total cost and dividing it by the change in quantity. The marginal cost curve is generally upward-sloping, becau...
0 min reading timeBack To: INSURANCE & RISK MANAGEMENT What is an Associate In Insurance Services (AIS)? The associate in Insurance Service is a professional designation awarded to insurance professionals that have passed the four national exams by the American Insurance Institute. Out of the four national exams, one is designed for the AIS program, while the oth...
3 min reading timeWhat are the common provisions in an insurance contract subject to legal dispute? State law requires that insurance contracts contain certain provisions protecting the rights of the insured against the insurer. These provisions are commonly the subjects of litigation. An insurer that fails to pay an insurance claim for which it is legally obligated ...
3 min reading timeWhat is the Short Run? The short run is a term often used in economics, it describes a future period during which one input is fixed while others are variable. The variation in the inputs is owing to the fact that the time available is not enough for all inputs to be changed, hence, some inputs are fixed while others are changed. When used in econom...
2 min reading timeWhat is Client Informed Consent? Informed consent refers to a case where an investment client makes a decision on a recommended investment program. This process actually involves the investment client having vivid and unobstructed understanding of the implications, details and the consequences of undertaking a recommended investment decision. Usuall...
0 min reading timeWhat is the Winner's Curse? The winner's curse can be described as buyer's remorse. It is where a person buys something and then feels that he or she has paid more than its real worth. It can also result when an individual makes an offer to sell something which is accepted very quickly. The individual may feel that they have sold the item for too li...
0 min reading timeWhat are Variances on the Clean Water Act? The CWA allows for variances from its requirements when circumstances justify exemption. There are two main exemptions available to existing sources, discussed below. Next Article: Endangered Species Act Back to: ENVIRONMENTAL LAW What is Economic Justification under the Clean Water Act If a party cann...
0 min reading timeWhat is Cyclical Unemployment? Let’s make the plausible assumption that in the short run, from a few months to a few years, the quantity of hours that the average person is willing to work for a given wage does not change much, so the labor supply curve does not shift much. In addition, make the standard ceteris paribus assumption that there is no ...
2 min reading time