What Type of Insurance Is Written for a Specified Number

question 37

Multiple Choice

What type of insurance is written for a specified number of years and terminates at the end of that period?

• A) term insurance
• B) whole life insurance
• C) endowment insurance
• D) universal insurance

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Definitions:

P Chart

A type of control chart used to monitor the proportion of defective items in a series of samples.

Upper Control Limit

The upper threshold in control charts beyond which indicates that a process is out of control.

P Chart

A type of control chart used for monitoring the proportion of defectives in a process.

Assignable Variation

Specific alterations in a process caused by identifiable factors, rather than by random fluctuations.