Answers OK-Personal Financial Literacy S1 – EDGNTY-83861 26-27 Buying InsuranceQuestion 5

5

QuizMultiple Choice

Buying Insurance

Question 5 • OK-Personal Financial Literacy S1 – EDGNTY-83861 26-27

Which statement best defines the term deductible?

Answer

A

It is money a consumer receives after experiencing a loss.

B

It is the amount a consumer pays before the insurance will start paying.

C

It is money paid by a consumer to share the pool cost of a payout.

D

It is a fee paid to an insurance company to purchase coverage.

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