American_Bankers_Association
CTFA · Question #316
Credit life or disability insurance is:
The correct answer is A. A type of insurance in which the coverage decreases at the same rate as the loan balance. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
Credit life or disability insurance is:
Options
- AA type of insurance in which the coverage decreases at the same rate as the loan balance
- BA type of insurance in which the coverage increases at the same rate as the loan balance
- CA type of insurance in which the coverage decreases at an inverse rate as the loan balance
- DA type of insurance in which the coverage decreases at the half rate as the loan balance
How the community answered
(22 responses)- A73% (16)
- B5% (1)
- C14% (3)
- D9% (2)
Topics
#credit life insurance#decreasing coverage#loan balance#disability insurance
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