Which One of the Following Factors Is Used to Determine

question 72

Multiple Choice

Which one of the following factors is used to determine a person's driver classification?

• A)Age
• B)Type and age of vehicle
• C)Claims in your geographic area
• D)Insurance company claim processing costs
• E)State insurance premium regulations

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Definitions:

Tax-Free Amount

The portion of income or a financial distribution that is not subject to taxation by authorities.

Roth IRA

An individual retirement account allowing post-tax contributions with the benefit of tax-free withdrawals under certain conditions.

Withdrawal Requirements

Mandatory rules governing the minimum amounts that must be withdrawn from retirement accounts after reaching a certain age.

Taxable

Describes income or transactions subject to taxation under federal, state, or local laws.