What Factor Affects Insurance Premiums the Most

question 184

Multiple Choice

What factor affects insurance premiums the most?

• A) Style
• B) Age
• C) Brick or wood exterior
• D) Credit score
• E) Detached or attached garage

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Definitions:

Tax Avoidance

A legal strategy used by individuals and businesses to minimize taxes owed by using deductions, credits, and exemptions within the law.

Bargain Purchase Option

A provision in a lease agreement that allows the lessee to purchase the leased asset at the end of the lease term for a price significantly lower than the expected fair market value.

CRA

Canadian Revenue Agency, an agency that administers tax laws for the Canadian government and for most provinces and territories, or Community Reinvestment Act, a U.S. federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities.