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a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What are some of the disadvantages of being the first mover?
1) Free-rider effects 2) First movers can quickly lose their advantage when commercialization is high, shifts in technologies are frequent and they are reluctant to self cannibalize
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What is ACF and what are the types?
AFC= Advantage-creating Frequency 1) Disruptive ACF- Technological innovation (discover radically new technologies) and Product innovation (frequently introduce new products ahead of rivals) 2) Incremental ACF: frequently improve and upgrade the value of their existing products and services.
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What are some of the early mover advantages?
- early movers can quickly respond through imitation - able to study customer reactions - avoid both mistakes and huge costs of first movers - can develop more efficient processes and technologies
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Economies of scope
onomies of scope are cost advantages that result when firms provide a variety of products rather than specializing in the production or delivery of a single product or service. Economies of scope also exist if a firm can produce a given level of output of each product line more cheaply than a combination of separate fi...
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Economies of substitution
The costs of designing a brand new complex product is higher than the costs of designing an upgraded system through partial retention of existing components
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What are the acceleration costs trade offs (as advantage creating frequency increases, why do costs also increase?
Three reasons: – Increased rate of self-cannibalization – Time compression diseconomies – Red Queen phenomenon
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
what are strategic networks?
• Products are complex systems consisting of many interdependent components designed and manufactured by different companies • Interfirm collaboration and coordination are critical for achieving compatibility across components
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
From Competing on the Edge Strategy, what does it mean to manage change?
– Reacting – Anticipating – Leading
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Characteristics of competing on the edge strategy:
– Unpredictable – Uncontrolled – Inefficient – Proactive – Continuous – Diverse
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Competing on the Edge Strategy Assumptions
– Unclear industry boundaries – Unpredictable competition – Uncertain environmental changes (technological advances or customer preferences) – Decentralized decision making (at business units)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How do firms achieve semicoherent strategic tendency? (Edge strategy)
Edge of Chaos, Edge of time, and Time Pacing
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How do firms create competitive advantage according to the I/0, RBV, and DS models?
I/O: Selecting favorable industry or position within industry RBV: Identifying/developing strategic resources DS: Recognizing and exploiting profit opportunities
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How do firms sustain competitive advantages according to the I/0, RBV, and DS models?
I/O: Defend your market position; RBV: Ex-post limits to competition (inimitability and nonsubstitutability); Leveraging core competences across markets; DS: Competitive advantages are not sustainable. Firms create series of temporal advantages
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What is the role of top managers according to the I/0, RBV, and DS models?
I/O: To identify profitable industry context, strategic positioning RBV: To identify strategic resources and design strategy based on those resources DS: Create flexible structure; entrepreneurial culture; strategy emerges from below; from middle managers and knowledgeable employees
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What are the main propositions of the Blue Oceans Strategy
- Firms that compete in “blue oceans” gain above average profits. -Technological innovation is not critical driver of discovery of “blue oceans” -Incumbents are not at a disadvantage -Strategic moves are basic unit of analysis
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How does “Blue Ocean” strategy lead to competitive advantages:
-They proactively change the industry structure -They make competitors irrelevant -They create new market spaces (product categories) -They pursue cost leadership and differentiation strategy simultaneously (trade-offs become irrelevant)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Within the "Action-Reaction" Framework, how is strategy defined, and how do you define competitors?
Strategy- a unique position that evolves around exploiting core competences and creating a series of temporal advantages Competitors-
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What is competitor intelligence?
An ethical gathering and interpretation of all information about the companies that a firm competes against Includes: Knowing a competitors direction (future objectives), capabilities and intentions (current strategy), beliefs about the industry (its assumptions) and their capabilities
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
In the Strategy as Action model, how are firms successful?
Success is based on a firms - ability to make new competitve actions - ability to anticipate and respond to a competitors competitive action - ability of rivals to react to your first move (max value when the likelihood and speed is low)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Explain Competitive Analysis for the A-M-C Moel
1. Market Commonality (# of markets both compete in, and the degree of importance of those markets) 2. Resource Similarity: how comparable the tangible and in tangible resources are (if similar, strengths, weaknesses, and strategies)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What are the drivers of competitive behavior in the A-M-C
Awareness of rivals actions Motivation to attack or react/respond Capability to attack and respond
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Explain the Model of Multi-Market Competition (part of AMC model/Market commonality) In other words, what is MUTUAL FORBEARANCE?
When - Awareness (greater interdependence and attention) and Capability (ability to hurt and opportunity to attack) are HIGH, there is a decreased Motivation to attack
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Forbearance Hypothesis
A firm is less likely to attack a rival with whom it has high market commonality
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How does resource similarity impact Motivation?
When firms have equal resource potential to attack and respond (awareness and capability are HIGH) - they are less likely to attack, but retaliation is high - more likely to quickly respond Dissimilar resources: a rival with resource disadvantage has a longer response time and the rival with the advantage is more likel...
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Which has higher predictive power, market commonality or resource similarity (why?)
Market Commonality because resources are both tangible and intangible, making awareness very challenging
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
In the Action Response Frame Work, what are the three types of competitive stances?
1. Ignore the move: choose this when no significant impact on firms performance or when using a "wait and see" attitude 2. Accommodation: choose when entry can contribute to the market size, cooperation is less costly then destructive battle *this strategy can show signs of weakness which encourages attack on you 3. Re...
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
In the Action-Response Frame Work, what are the different magnitudes for response?
1) Match the attackers move- signals that the incumbent is unwilling to cede/surrender market share 2) Out do the attacker- signals that the incumbent has the ability to prevent the attacker from building a strong position (new entrants usually compete on price)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
In the Action-Response model, how fast should an incumbent react to an attack?
1) Immediately: helps reduce the potential impact & prevents the attacker from building a unique position 2) Delayed reaction: helps to avoid over reaction and waste of resources 3) Preemptive strike: prevent the attacker from entering the market
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What should be the domain of response?
Respond in the market of attacker (use when you have competitive advantage and dont want to show weakness) Respond in the attackers market (create mutual forbearance) Respond in a neutral market/segment (creates new market space and potentially less powerful rivals)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
According to the Competitive Behavior model, what are the characteristics for competitive actions?
1) Strategic -require substantial commitment of time and resources to develop - highly visible and complex - elicit fewer numbers of competitive responses (less motivation and capability) and create a longer delay for response 2) Tactical Actions- competitors will respond quickly to tactical actions
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
According to the action types and response characteristics (competitive behavior models) how do competitors react to PRICE AND NON PRICE
PRICE- 75% chance of response, 98% matching move in Short period (5.8 days) NON PRICE; 17% chance of response, 90% matching move in longer time period (14.7)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How does the organization size impact competitive activity? SMALL
Likelihood of attack: Like more motivated to be fast to execute and compete with a wide range of action types (guerilla warfare) likelihood of response: lower capability to respond effectively and timely, less motivated to quickly respond
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How does the organization size impact competitive activity? LARGE
Likely to - initiate more competitive actions and strategic actions - quickly respond - have lots of resources to launch both tactical and strategic actions - rivals are more likely to respond to large firms because they are more visible
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How can we predict a rivals performance?
Future preformance- by looking at their market depedance (extent that revs are derived from one market) - high dependance means they will respond to protect their position, however response will be slow - looking a past performance, poor preforming rivals are likely to respond more quickly then better preforming
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Describe how REPUTATION impacts firms
- reputation is a positive or negative attribute that one rival ascribes to another - based on previous responses when attacked innovative firms: Apple is closely monitored by competitors aggressive and unpredictable firms: delay in responses by rivals
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What is a standard and why is it important?
A standard is a format, an interface or a system that allows interoperability - can be public or private - important because control over standards is the basis for competitive advantage
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Why do standards appear?
NET WORK EFFECTS- winner takes all markets: value of a given product is contingent on the number of other consumers that have it (telephones, fax, electronic mil, video games)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Explain the theory of network externalities
Network dep- direct value is from the # of users/installed base, indirect is derived from availability of complementary products that are critical to use the product Network independant- intrinsic features/aspects of the product
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Why do network effects lead to winner takes most markets?
1. path dependance: future performance is based on past events 2. positive feedback: leading firms become more successful and follow firms decline
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How is strategy defined in Network Industries?
strategic actions - installed base development - managing complementary products - assessing network intensity
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Why do market leaders fail to adequately respond to disruptive technologies?
Performance trajectories - those in sustaining technologies expect next generation items and upgrades but disruptive technologies produce low end products that appeal to new/different markets- start much lower in demand, but eventually meet and surpass
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What are the main principles of Disruptive Innovation theory?
1. Companies depend on customers and investors 2. Small markets do not solve the growth needs of large companies 3. Markets that do not exist cannot be analyzed 4. An organization capabilities define its disabilities 5. Technology supply may not equal market demand (preformance over shoot)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How can Managers embrace disruptive technologies?
1. determine whether the technology is disruptive 2. define the strategic significance of the disruptive technology 3. locate the initial market for it 4. set up a separate organization (small enough to get excited by small gains) - leaders should be able to respond if they recognize the technology in a timely manner a...
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What are the FOUR CONSTRAINTS against non consumers?
1. skill related constraints 2. wealth-related constraints- draw a consumption pyramid 3. Access-related constraints- occasions where you cant get it, 4. time-related- takes too long to consume EXAMPLES
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
How do organize an internal structure to innovate?
Idea Discovery (stimulate): Innovation training units Innovation Discovery Boards Idea Evaluation (shepherd): growth council or intrepreneur funds Opportunity Assessment (Spearhead): incubator group or autonomous growth groups Opportunity Commercialization (strengthen): Corporate venture investment unit or business dev...
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Product Innovation and the Missile Approach
Discovery Stage (34-30 weeks prior), Idea Evaluation Stage (30-27 weeks prior), Opportunity Assessment Stage (26-14 weeks prior), Concept Development Stage (14-0 weeks prior)
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
Why does time depression dis economies occur?
1) higher development costs because aceleated learning leads to costly mistakes, higher testing costs, takes more people to complete quickly 2) Lower learning potential because learning is a cumulative process and it takes time to make sense of complex issues
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
a15f4d23_401_Flashcards___Cram_com__ern__position__and_perspective
What are the limitations of the VRIN Model?
- doesnt tell us how to develop core competences, only how to evaluate them -doesnt suggest how firms should adapt to changes in the environment - begs the question can a firm develop socially complex resources - suggests that a company cant explain how their cc's were developed because of casual ambiguity
[]
401 Flashcards - Cram.com
Plan, ploy, pattern, position, and perspective
http://www.cram.com/flashcards/401-2041208
42/1438042988310.3_20150728002308-00047-ip-10-236-191-2_382713906_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] phosphorescence
Phosphorescence does not immediately re-emit the radiation it absorbs. The slower time scales of the re-emission are associated with "forbidden" energy state transitions in quantum mechanics (electron spin pairing)
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] singlet state
A transient, excited state of a molecule upon absorbing light that can release energy as heat or light (fluorescence) and thus return to the initial (ground) state electrons remain paired
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] triplet state
A second excited state of a molecule produced by absorption of light to produce the singlet state, then loss of some energy (fluorescence) to arrive at the longer-lived triplet state The molecule may remain sufficiently long in the triplet state for a second activating light quantum to be effective in producing a secon...
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] vibrational relaxation
A process in which a polyatomic molecule in an excited vibrational state returns to a lower vibrational state in the same electronic state by colliding with other molecules Energy given off as heat
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] internal conversion
a transition from a higher to a lower electronic state in a molecule. It is sometimes called "radiationless de-excitation", because no photons are emitted. It differs from intersystem crossing in that, while both are radiationless methods of de-excitation, the molecular spin state for internal conversion remains the sa...
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] external conversion
collisions with other molecules cause loss of energy
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] intersystem crossing
When a singlet state nonradiatively transitions to a triplet state, that process is known as intersystem crossing. In essence, the spin of the excited electron is reversed. The probability of this process occurring is more favorable when the vibrational levels of the two excited states overlap, since little or no energ...
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] quantum yield
fraction of emitted phtons/fraction of absorbed photons
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] hypsochromic
a change of spectral band position in the absorption, reflectance, transmittance, or emission spectrum of a molecule to a shorter wavelength (higher frequency) aka blue shift seen in molecular spectra, not atomic spectra
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] bathochromic
a change of spectral band position in the absorption, reflectance, transmittance, or emission spectrum of a molecule to a longer wavelength (lower frequency) aka red shift
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] hyperchromic
an increase in the intensity of a spectral band due to a change in the molecular environment
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] hypochromic
a decrease in absorption intensity
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] conjugated
a sequence of alternating double (or triple) and single bonds. [E.g. C=C-C=C and C=C-C=O. Conjugation can also be relayed by the participation of lone pairs of electrons or vacant orbitals.]
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
8382c083_troscopy_Flashcards___Cram_com__er__less_energetic__wavelength
[fluorescence] Lipinski's Rule of Five
1. fewer than 5 H bond donors 2. fewer than 10 H bond acceptors 3. molecular weight of less than 500 4. logP value of less than 5
[]
CHEM 124 Electronic Spectroscopy Flashcards - Cram.com
Fluorescence is the emission of visible light by a substance that has absorbed light of a different wavelength. In most cases, absorption of light of a smaller wavelength induces emission of light with a larger (less energetic) wavelength
http://www.cram.com/flashcards/chem-124-electronic-spectroscopy-996570
42/1438042988310.3_20150728002308-00087-ip-10-236-191-2_378398785_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
personal property or fixtures obtained by a creditor secures payment or performance of an obligation. [security agreement]
security interest
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
party who holds a security interest in the collateral of the debtor. [security agreement]
secured party
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
the person who owes payment or has an obligation to perform under the security agreement. [security agreement]
debtor
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
with secured transactions, tangible personal property serves BLANK (property securing the promise to repay). This includes: Consumer goods. Equipment. Inventory [security agreement]
collateral
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
A note with security agreement built into it. [security agreement]
Chattel Paper
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
Attachment [security agreement]
-An agreement in which debtor grants creditor a security interest in collateral -The debtor must have rights in the collateral -The creditor must give value to the debtor
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
A creditor gets protection against other creditors or purchasers of the collateral [security agreement]
perfecting the security interest
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
A security interest is not legally enforceable between the creditor and debtor until it becomes BLANK to one or more particular items of debtor’s property. [security agreement]
attached
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
3 ways perfecting can be done: [security agreement]
By filing public notice (financing statement)with the Secretary of State; By the creditor taking possession or control of the collateral (pledge); or Automatic perfection in certain transactions, such as a purchase money security interest.
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
Financing Statement with the Secretary of State (see p. 591). UCC 9-501 requires [security agreement]
Name(s) of the Debtor Name of the Secured Party A Statement indicating or describing the collateral covered by the financing statement.
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
certain collateral as security for the debt and transfer the collateral into the creditor's possession [security agreement]
pedge
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
When a seller retains a security interest until goods are paid for or when money is loaned to acquire goods and the lender takes a security interest in the goods [security agreement]
purchase money security interest (PMSI)
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
PMSIs in non-consumer goods are not automatically perfected. Two common types of non-consumer goods: [security agreement]
Equipment used in a trade or business; Inventory of the business.
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
In addition to property actually in the possession of the debtor, a security agreement can continue to cover new collateral or proceeds of collateral that has been disposed of [security agreement]
floating liens
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
e9b2f738_3_Ch__29_Flashcards___Cram_com__security_agreement
3 floating liens [security agreement]
Proceeds Automatically covered as of the time the security agreement attaches. After-acquired Property A security agreement may be drafted to grant a creditor a security interest in debtor’s after-acquired property. Future Advances Security agreements can cover extensions of credit if specified in a security agreement.
[]
BLAW TEST 3 Ch. 29 Flashcards - Cram.com
security agreement
http://www.cram.com/flashcards/blaw-test-3-ch-29-2020082
42/1438042988310.3_20150728002308-00000-ip-10-236-191-2_381402195_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] Q: An insured receives a monthly summary for his life insurance policy. He notices that the cash value of the policy is significantly lower this month than it was last month. What type of policy does the insured have? [2]
Variable
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] Q: If someone wants to buy a life insurance policy that will provide lifetime protection against premature death, what type of life insurance policy should it be? [2]
Permanent
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What type of insurance would perform the function of cash accumulation? [2]
Life insurance
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] must insurable interest exist in a life insurance policy? [2]
At the time of application
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What is the purpose of the agent's report during the application process? [2]
The agent's report discusses the agent's personal observations about the proposed insured that may help in the underwriting process
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] When must the policy summary for a life insurance policy be delivered to the policy owner? [2]
At the time of policy delivery
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] Who must have insurable interest in the insured? [2]
The policyowner
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What is insurance underwriting? [2]
The process of risk selection and classification
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What are the three main instances when insurable interest exists in life insurance? [2]
Insuring your own life, the life of a family member, or the life of a business partners or someone who has a financial obligation to the policyowner
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What are the three factors that determine the premium for a particular life insurance policy? [2]
Mortality, interest and expense
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] Who is responsible for the contents of insurance advertisements? [2]
The insurance company
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What type of policy is typically issued without proof of insurability from the insured? [2]
Group policy
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What is included in Part 2 of a life insurance application? [2]
Medical information about the prospective insured
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What is the main responsibility of a company's underwriting unit? [2]
Risk selection
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] All other factors being equal, which premium payment mode will require an overall higher premium: monthly or annual? [2]
Monthly
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What term describes the fee a person pays an insurance company to receive coverage? [2]
Premium
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What is a blackout period for social security benefits? [2]
A period of time during which the surviving spouse does not receive benefits
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What is the main purpose of the regulation on life insurance policy illustrations? [2]
To help the public make educated decisions about buying life insurance
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What type of policy issues certificates of insurance to the insureds? [2]
Group policy
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] If an insured changes his payment plan from monthly to annually, what happens to the total premium? [2]
: It will decrease.
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] In calculation the amount of life insurance needed, what is the needs approach based on? [2]
The predicted needs of a family after the premature death of the insured
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] Life insurance may be used to pay state inheritance taxes and federal estate taxes eliminating the need to sell assets from the estate. What is this called? [2]
Estate conservation
[]
Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json
5b4bb06f__License_Flashcards___Cram_com__2
[1] What type of insurance creates an immediate estate? [2]
Life insurance
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Life License Flashcards - Cram.com
2
http://www.cram.com/flashcards/life-license-1941424
42/1438042989018.40_20150728002309-00059-ip-10-236-191-2_390584332_0.json