You Are Teaching Students About the Statistical Prediction of Years

question 57

Multiple Choice

You are teaching students about the statistical prediction of years of life remaining for a person at a particular age This concept is called:

• A)morbidity rate.
• B)mortality rate.
• C)longevity.
• D)life expectancy.

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Definitions:

Defaulted

Defaulted refers to the failure to fulfill an obligation, especially the failure to repay a loan on time or to meet a contractual condition, leading to possible legal penalties or loss of rights.

Equity of Redemption

The right of a mortgagor to reclaim property on which a mortgage exists by repaying the debt before a foreclosure sale.

Legal Title

The legal entitlement to possess property, safeguarded and upheld by the legal system.

Acceleration Clause

A clause in a debt instrument (e.g., a mortgage) that requires the payment of the balance of the debt on the happening of a specific event, such as default on an installment payment.