In Insurance Law, The______ Is the One Assuming a Risk

question 63

Multiple Choice

In insurance law, the______ is the one assuming a risk in return for the payment of a premium.

• A) underwriter
• B) insured
• C) agent
• D) broker

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Definitions:

Federal Income Tax

Federal income tax is a tax levied by the national government on individuals' and corporations' annual earnings, contributing to federal revenue.

Federal Budget Deficit

Occurs when a government spends more money than it receives from taxes and other revenues within a fiscal year.

Budget Deficits

Occurs when a government's expenditures surpass its revenues within a given fiscal period, necessitating borrowing or spending cuts.

Inheritance Tax

A tax imposed on individuals who inherit assets or property from a deceased person.