Which of the Following Statements About the Medical Payments Coverage

question 13

Multiple Choice

Which of the following statements about the medical payments coverage of the PAP is true?

• A)The amount of the benefit typically is $100,000.
• B)Covered expenses must be incurred within 6 months of the accident.
• C)Covered expenses include the cost of funeral services.
• D)The benefit limit applies on a per-accident basis rather than on a per-person basis.

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Definitions:

Return on Investment

A performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of a number of different investments.

Simple Interest

Interest calculated only on the principal amount, or the initial amount of money borrowed or invested, without compounding.

GICs

A financial vehicle in Canada, Guaranteed Investment Certificates offer investors a set return rate over a defined period.

Simple Interest

Interest calculated on the principal or original amount of a loan or investment, without compounding.