A Planning Horizon of at Least ________ Years Is Reasonable

question 48

Multiple Choice

A planning horizon of at least ________ years is reasonable for any master plan; however,the plan should be updated at least ________ each year.

• A) 3; twice
• B) 5; twice
• C) 7; once
• D) 5; once

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Definitions:

Co-Insurance

An insurance policy feature where the insured party and the insurer share the covered losses in a defined proportion.

Insured

The individual or entity covered by an insurance policy, which provides protection against loss or damage.

Insurer

An entity that provides insurance coverage, assuming the risk of loss from an insured party in exchange for premiums paid.

Brokers

Intermediaries that arrange transactions between buyers and sellers for a commission.