What Is the Name of the Payment, Which Is Paid

question 59

Multiple Choice

What is the name of the payment, which is paid in exchange for a later payment in the event of damage or injury to property or person?

• A) A rider
• B) An addendum
• C) A premium
• D) A bill of lading
• E) A payment plan

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Definitions:

Semi-annual Contributions

Payments or deposits made twice a year into a financial account or investment plan.

Tax-Free Savings Account

A type of savings account that offers tax benefits, allowing individuals to earn interest or other returns without taxation.

Ordinary General Annuity

An annuity where payments are dispensed at the conclusion of each period, including monthly or yearly intervals.

Present Value

The today's worth of a forthcoming sum of money or succession of cash flows, given a specific rate of return.