An insurance company creates a pool of funds from many policyholders’ premium payments and then uses these funds to compensate customers who experience a loss. People at higher risk for making a claim usually have to pay a higher premium.
Standard detail
MR.3
Depth 1Parent ID: 9C3EEC85D4804C6E9768D0D1ABB8C8A9Standard set: Grade 8
Original statement
Quick facts
- Statement code
- MR.3
- List ID
- 3
- Standard ID
- 080F4505238F415B85262611A2516BD0
- Subject
- Personal Financial Education (2021)
- Grades
- 08
- Ancestor IDs
- 9C3EEC85D4804C6E9768D0D1ABB8C8A9
- Source document
- National Standards for Personal Financial Education
- License
- CC BY 4.0 US