Get Started
544

Q:

_________period is the provision in most loan and insurance contracts that allows payment to be received for a certain period of time after the actual due date.

  • 1
    Policy
  • 2
    Premium
  • 3
    Notice
  • 4
    Additional
  • 5
    None of these
  • Show Answer
  • Workspace

Answer : 5. "None of these"
Explanation :

A grace period allows a borrower or insurance customer to delay payment for a short period of time beyond the due date. During this period no late fees are charged, and the delay cannot result in default or cancellation of the loan or contract.

Previous Next
GK banking gk

The Most Comprehensive Exam Preparation Platform

Get the Examsbook Prep App Today