A Policy That Pays You Back for Actual Expenses Is

question 75

Multiple Choice

A policy that pays you back for actual expenses is called

• A) A coinsurance plan.
• B) A reimbursement plan.
• C) A deductible plan.
• D) An indemnity plan.
• E) A reasonable and customary plan.

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Definitions:

Proximity

The state of being close or near in space, time, or relationship.

Small Business Owner's Product

A product or service that is offered by an entrepreneur owning and running a small-scale business.

Breakeven Point

The level of production or number of sales at which costs equal revenues, resulting in neither profit nor loss.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.