Which of the Following Is Not a Characteristic of Group

question 5

Multiple Choice

Which of the following is not a characteristic of group insurance?

• A)benefits are individually selected by the employee
• B)one master contract is provided to the employer
• C)for larger employer groups there is no medical exam required for coverage
• D)group insurance premiums are lower than comparable individual coverage

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Definitions:

Internal Controls

Internal controls are processes and procedures implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Independent Accounting Firms

External organizations specializing in auditing, tax, and advisory services to ensure financial statements' accuracy and compliance with regulatory standards.

Collusion

An agreement between two or more parties, often secretly, to limit open competition by deceiving, misleading, or defrauding others of their legal rights.

Fraud Prevention

Strategies and measures employed by organizations to detect, prevent, and protect against fraudulent activities or financial irregularities.