Which of the Following Statements About Savings Bank Life Insurance

question 36

Multiple Choice

Which of the following statements about savings bank life insurance is true?

• A)The maximum amount that a depositor can purchase is $50,000.
• B)The maximum amount of insurance that a depositor can purchase is limited to the amount of money on deposit in his or her savings account with the savings bank.
• C)The objective of savings bank life insurance is to provide protection to the bank in case a borrower dies before a loan is repaid.
• D)The objective of savings bank life insurance is to provide low-cost insurance to consumers by holding down expenses.

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Definitions:

Public Sector Unions

Labor organizations that represent employees working in government agencies and services, advocating for their members' rights, benefits, and conditions of employment.

Bargaining Power

The relative ability of parties in a negotiation, such as employers and employees, to influence the outcome in their favor.

Going Out on Strike

The act of workers stopping work as a form of protest, typically to secure better wages, working conditions, or other employment terms.

Employer

An individual or organization that hires and pays employees for their labor or services.