Find the Indicated Premium

question 85

Multiple Choice

Find the indicated premium. Round to the nearest cent.
-Find the monthly premium.
Face Value: $45,000
Age of Insured: 30
Sex of Insured: F
Type of Policy: Term

• A)$81.90
• B)$7.72
• C)$7.44
• D)$85.05

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Definitions:

Law

A system of rules that are created and enforced through social or governmental institutions to regulate behavior.

Economically Inefficient

A situation where resources are not allocated optimally, leading to waste or the inability to maximize value or output.

Nonrivalry

The idea that one person’s benefit from a certain good does not reduce the benefit available to others; a characteristic of a public good.

Consumption

The use of goods and services by households, often considered a primary economic indicator.