Find the Indicated Premium

question 74

Multiple Choice

Find the indicated premium. Round to the nearest cent.
-Find the annual premium. Face Value: $45,000
Age of Insured: 50
Sex of Insured: M
Type of Policy: Universal life

• A)$1,466.55
• B)$965.70
• C)$477.90
• D)$1,180.35

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Definitions:

Long-Run

A term referring to a period of time in economics during which all factors of production and costs are variable.

Short-Run

A period where at least one factor of production is fixed, and firms can only adjust the variable factors.

Diminishing Marginal Returns

A principle stating that as an investment in a particular area increases, the rate of profit from that investment, after a certain point, starts to decrease.

Monitoring

The regular observation and recording of activities taking place in a project or program, for oversight and evaluation purposes.