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Answer : 5. "None of these"
_________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.
5Q:
_________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.
- 1Policyfalse
- 2Premiumfalse
- 3Noticefalse
- 4Additionalfalse
- 5None of thesetrue
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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.