Sue Double-Majored in Mathematics and Statistics in College

question 32

Multiple Choice

Sue double-majored in mathematics and statistics in college. She also enrolled in a number of finance courses. After graduation, she was hired by Econodeath Insurance Company. Her job is to calculate premium rates for life insurance coverages. Sue is a(n)

• A) actuary.
• B) underwriter.
• C) claims adjustor.
• D) producer.

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Definitions:

Disposable Income

Disposable income refers to the amount of money that households have available for spending and saving after income taxes have been accounted for.

Aggregate Household Wealth

The total net worth held by the households in an economy, combining all assets minus liabilities.

Durable Goods

Things that last at least a year or two.

Nondurable Goods

Goods that are expected to last or be used for less than one year.