Base elements are elements that are created by a process using a formula or some logic

The amount an insurer charges per $100 of exposed property value is called the:

A) rate B) premium C) expense ratio D) funding ratio

The percentage of the total loan paid back immediately when a mortgage loan is obtained, which lowers the annual interest rate on the debt, is called

A) discount points. B) loan terms. C) collateral. D) down payment.