In the Settlement of Policy Proceeds Under an Installment Option,each

question 15

Multiple Choice

In the settlement of policy proceeds under an installment option,each payment includes (where principle equals proceeds at the date of death)

• A)principle only
• B)interest only
• C)cash value, principle, interest and dividends
• D)principle and interest

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Definitions:

Weekly Revenue

The total income generated from business activities or sales within a week.

Break Even

The point at which total costs and total revenues are equal, resulting in no net loss or gain.

Linear Equations

Equations where the highest power of the variable is one, creating a straight line when graphed.

Elimination

In solving systems of equations, elimination involves adding or subtracting equations to remove one variable, making it easier to solve for the others.