These Indicate Yearly Probabilities of Death Based on Such Factors

question 41

Multiple Choice

These indicate yearly probabilities of death based on such factors as age and sex. (Individual Versus Group Insurance Coverage)

• A)Experience ratings
• B)Formulary ratings
• C)Mortality tables
• D)Morbidity tables

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Definitions:

Indifferent

A state where an individual or group has no preference or difference in satisfaction among options, showing no bias or partiality towards any choice.

Break Even

The point at which total costs and total revenues are equal, resulting in no net loss or gain.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and equipment leases, remaining constant regardless of how much a company produces.

Contribution Margin

The amount by which the sale of a product or service exceeds variable costs, indicating how much it contributes to covering fixed costs.