In Comparison to an Equivalent Amount of Term Insurance, Mortgage

question 21

Multiple Choice

In comparison to an equivalent amount of term insurance, mortgage life insurance

• A)costs less.
• B)costs the same.
• C)costs more.
• D)The cost depends on the age of the house.

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Definitions:

Tenure

The duration or period of time a person holds a particular position, job, or place of living.

Accomplished Teachers

Educators who have achieved a high level of expertise and excellence in their teaching practices.

Moral Hazard

A situation in economics where one party is more likely to take risks because the costs that could result will not be borne by the party taking the risk.

Unobservable Characteristics

Traits or attributes of an entity that cannot be directly measured or seen but influence outcomes.