Which of the Following Is not a Characteristic of Group

question 9

Multiple Choice

Which of the following is not a characteristic of group insurance?

• A) Benefits are individually selected by the employee.
• B) One master contract is provided to the employer.
• C) For larger employer groups, there is no medical exam required for coverage.
• D) Group insurance premiums are lower than comparable individual coverage.

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Definitions:

Schedule E

A form used by the IRS for reporting income and loss from rental property, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.

Net Income

The profit of a company after all expenses and taxes have been subtracted from total revenue.

Rental Income

Income received from allowing others the use of a property in exchange for payment, typically reported on tax returns and subject to specific rules and taxes.

Repair Expense

Costs incurred to fix or maintain property or equipment, generally deductible in the year they are incurred for tax purposes.