INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 30

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-With traditional whole life policies sold by an agent,sales commissions and marketing expenses account for at least [20% | 50%] of total premiums paid over the life of the policy.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

---

Definitions:

TAC

Total Average Cost, the sum of all production costs divided by the number of goods produced, indicating the average cost per unit of product.

Arms Race

A competition between two or more parties to have the best armed forces and military technology, often leading to increased military spending and stockpiling of weapons.

Property Rights

Legal rights to possess, use, and dispose of assets including real property (land and buildings) and intellectual property.

Sustainable Rate

The level of output or activity that can be maintained over the long term without depleting resources or causing environmental or economic damage.