Rick was charged $200 when claiming insurance for his damaged car.This is an example of ________.
A) a subsidy
B) a co-payment
C) a brokerage fee
D) a dividend payment

Question

Quizplus · Accepted Answer

A co-payment is a payment made by the insured individual at the time of receiving healthcare or claiming insurance. In this case, Rick had to pay $200 as co-payment when claiming insurance for his damaged car. A subsidy is a payment made by the government to support individuals or businesses. A brokerage fee is a fee charged by a broker for facilitating a transaction between two parties. A dividend payment is a payment made by a company to its shareholders as a portion of its profits. None of these options are applicable in this scenario.

Rick Was Charged $200 When Claiming Insurance for His Damaged