Of the Following Statements Dealing with Premiums on Life Insurance

question 104

Multiple Choice

Of the following statements dealing with premiums on life insurance, which is not true?

• A) Some factors that affect premiums are decided at birth.
• B) Premiums will be higher if you buy insurance when you are older.
• C) The kind of policy you buy will determine your premiums.
• D) There are very few things you can do to reduce your life insurance premiums.

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Definitions:

Normally Distributed

Describes a distribution that follows a bell curve, where data points are symmetrically distributed around the mean.

Project Account

A dedicated financial account used to track all income and expenditures related to a specific project.

Transferred

Refers to moving or conveying something from one person, place, or situation to another.

Cost Estimates

The process of forecasting the total costs required to complete a project within a defined scope.