Which of the Following Statements Is True

question 55

Multiple Choice

Which of the following statements is true?

• A) A term insurance policy has no savings element attached to it.
• B) The maximum term of a term life insurance is 20 years.
• C) The minimum term of a term life insurance is 5 years.
• D) A term insurance policy has no savings element attached to it and the maximum term of a term life insurance is 20 years.

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Definitions:

Supply Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product that a supplier is willing to make available.

Elasticity of Supply

A metric assessing how the provision of a good changes in response to price adjustments.

Quantities Supplied

The amount of goods and services that producers are willing and able to sell at a given price over a specified period.

Price-Elasticity

A measure of how responsive the quantity demanded of a good is to a change in its price, indicating how shifts in price can affect supply and demand.