The Percentage Change in Any Economic Variable,including the Consumer Price

question 159

Multiple Choice

The percentage change in any economic variable,including the consumer price index (CPI) ,is measured by which equation?

• A) ((Previous Year - Current Year)/ Previous Year)*100
• B) ((Current Year - Previous Year)/ Previous Year)* 100
• C) ((Current Year - Previous Year)/ Current Year)*100
• D) (Previous Year - Current Year)/ Previous Year
• E) (Current Year - Previous Year)/ Previous Year

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Definitions:

Guaranteed Insurability

An insurance policy feature that allows the policyholder to buy additional coverage without proof of insurability at designated times.

Life Insurance

A contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured.

Insured

A person, company, or entity covered under an insurance policy to receive compensation for a specified loss or damage.

Premium

The amount paid for an insurance policy, reflecting the cost of coverage.