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Mortgages and Home Ownership

Question 3 • Personal Finance - EL3403

A is the cost of a type of insurance that is paid at regular intervals.

Answer
A
compensation
B
deductible
C
premium

Explanation

An insurance premium is the amount paid regularly to keep an insurance policy active. A deductible is the amount the policyholder pays toward a covered loss, while compensation refers to payment for a loss or injury. Therefore, the correct choice is premium.

AI-written and checked against the verified answer.

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