Cash Balance Models Are an Example of Which Category of Simulation

question 19

Multiple Choice

Cash balance models are an example of which category of simulation application?

• A)Operations models
• B)Financial models
• C)Marketing models
• D)Games of chance

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Definitions:

Co-pays

A fixed amount paid by an insured patient for receiving certain medical services, with the insurance covering the remaining costs.

Deductible

The amount paid out of pocket by the policyholder before an insurance provider pays any expenses.

Premium

An amount paid that is above the standard price or rate for an enhanced feature, service, or higher priority.

Insurance Companies

Financial institutions that provide coverage against specific losses in exchange for premiums.