Which of the Following Will Not Result in Lower Auto

question 5

Multiple Choice

Which of the following will not result in lower auto insurance premiums?

• A) Living in a rural area
• B) Driving a more expensive car
• C) Having a high FICO score
• D) All of the above will reduce your premiums.

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Definitions:

Investment

Allocation of resources, usually money, in expectation of a future return or profit.

Interest

The cost of borrowing money or the return on investment, typically expressed as a percentage.

Interest Rate

The percentage at which interest is paid by a borrower for the use of money, or what a lender earns on an investment, over a specific period.

Loan

A sum of money that is lent and is due to be repaid along with interest.