In Planning Your Insurance Program, You Should

question 68

Multiple Choice

In planning your insurance program, you should

• A)seek advice from a competent financial adviser.
• B)determine what insurance is required.
• C)consider social security and other group insurance.
• D)decide what type of insurance best meets your needs.
• E)seek advice from a competent financial adviser, determine what insurance is required, consider social security and other group insurance, and decide what type of insurance best meets your needs.

---

Definitions:

Contribution Margin

The difference between sales revenue and variable costs, indicating how much contributes towards covering fixed costs and generating profit.

Income from Operations

The earnings generated from a company's core business operations before subtracting interest and taxes.

Profit-Volume Chart

A graphical representation that shows the relationship between a company's profits and its level of output or sales volume.

Total Sales

The sum of all revenues earned from selling goods or services within a specific period.