The Period of Time During Which an Employee Can Sign

question 14

Multiple Choice

The period of time during which an employee can sign up for group insurance coverage without furnishing evidence of insurability is called a(n)

• A)probationary period.
• B)noninsurability window.
• C)waiting period.
• D)eligibility period.

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Definitions:

Salvage Value

An estimation of the residual worth of an asset at the conclusion of its effectiveness.

Retired

The status of no longer being active in one's profession or job due to reaching a certain age or voluntary choice, often resulting in pension or retirement benefits.

Fully Depreciated

The state of an asset when its book value is reduced to zero through depreciation, signifying it has recognized the expense of its full useful life.

Salvage Value

The estimated sell-back value of an asset once it surpasses its life of effectiveness.