A Point Is a One-Time Charge Equal to ________ of the Principal

question 16

Multiple Choice

A point is a one-time charge equal to ________ of the principal amount borrowed.

• A)one-tenth
• B)three percent
• C)one percent
• D)ten percent

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Definitions:

Prescription Drug Plan

A prescription drug plan is a health insurance program designed to cover the costs of prescription medications.

Medication Costs

The expenses associated with purchasing drugs or pharmaceuticals prescribed for treatment or health maintenance.

Health Insurance Portability and Accountability Act

A US law enacted in 1996 to protect patient health information, ensuring privacy and security while facilitating the portability of health insurance.

Electronic Transmission

The transfer of data or information between computers or over a network without the use of physical connections.