Which of the Following Statements About Group Insurance Is True

question 7

Multiple Choice

Which of the following statements about group insurance is true?

• A)Individual contracts are issued to each person covered under a group insurance plan.
• B)The cost of group insurance is usually higher on a per-person basis than the cost of individual insurance.
• C)The actual experience of a large group is a factor in determining the premium that is charged.
• D)Individual evidence of insurability is usually required.

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Definitions:

Tariff Revenue

Income earned by a government through the imposition of tariffs or taxes on imported goods.

Domestic Price

The price at which goods or services are sold within a country's own market, excluding any tariffs, duties, or international shipping costs.

Free Trade

The free trade of goods and services across nations without the application of restrictions like tariffs, duties, and quotas.

Tariff Revenue

The income that a government earns from imposing tariffs, which are taxes on imports or exports.