Match the Following Terms with Their Definitions

question 18

Multiple Choice

Match the following terms with their definitions.
-Compulsory

• A)Continual premium payments
• B)Used when insured cancels
• C)Blame doesn't matter in payoff
• D)Periodic payment
• E)Not optional
• F)Combination of term and whole life
• G)Result of a nonforfeiture value
• H)Policyholder
• I)Amount of insurance stated on the policy
• J)Value of policy when terminated
• K)Builds no cash value
• L)Options when an insurance policy is terminated
• M)One to receive face value of life insurance
• N)Payment to insured from a loss
• O)80%
• P)Pay for repairs to one's auto
• Q)Amount insured pays
• R)The insurance company
• S)Fire, theft

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price.

Surplus

A situation where the quantity supplied exceeds the quantity demanded, or when revenues exceed expenses.

Easily Stored

Refers to items or data that can be kept or archived with minimal effort or resources.

Current Supply

The total amount of a particular good or service available to consumers at the current time.