Choose the Word or Phrase in [ ] Which Will

question 118

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Traditional indemnity policies reimburse the insured based on the [amount charged | usual,customary,and reasonable charges] for the medical services received.

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Definitions:

Consideration

The value, typically expressed in monetary terms, given in exchange for goods, services, or for entering into a contract.

Control

The power to direct the financial and operating policies of an entity with a view to gaining economic benefits from its activities.

Unconditional Contract

An agreement whose execution does not depend on fulfilling any conditions; it is binding upon the parties as soon as it is signed.

Physical Substance

The tangible, material aspect of an asset, referring to its physical existence and properties.