Aloan

question 12

Multiple Choice

Aloan:

• A)is an asset for both the lender and the borrower.
• B)is an asset for the lender and a liability for the borrower.
• C)is a liability for the lender and an asset for the borrower
• D)is a liability for both the lender and the borrower.

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Definitions:

CHAMPVA

A health care benefits program managed by the Department of Veterans Affairs for the dependents of veterans who are permanently and totally disabled due to service-related conditions.

Service-Connected Disabilities

Disabilities that are recognized as being directly related to military service.

Coordination of Benefits (COB)

A process whereby insurance companies share costs and determine payment responsibilities when a person is covered under multiple insurance plans.

Duplication of Payment

The act of making the same payment more than once, often due to administrative error or oversight, leading to unnecessary financial outlay.