Insurance companies analyze the outcomes of individuals who face similar types of risks to create insurance contracts (policies). By collecting a relatively small amount of money, called a premium, from each policyholder on a regular basis, the company creates a pool of funds to compensate those individuals who experience a large loss.
Standard detail
3.
Benchmark
Depth 1Parent ID: F365D35F8F2445FA96188E2CA3F11D00Standard set: Grades 5, 6, 7, 8
Original statement
Quick facts
- Statement code
- 3.
- List ID
- 3.
- Standard ID
- 8F8CE34927B04BA79B483CA216038275
- ASN identifier
- S2604625
- Subject
- Financial Literacy
- Grades
- 05, 06, 07, 08
- Ancestor IDs
- F365D35F8F2445FA96188E2CA3F11D00
- Source document
- National Standards for Financial Literacy (2013)
- License
- CC BY 3.0 US