Lenders who foreclose on FHA-insured loans are compensated with the outstanding sum plus expenses.
<h3>What is a loan with FHA insurance?</h3>
An FHA-approved lender offers a mortgage loan that is guaranteed by mortgage insurance from the US Federal Housing Administration. Lenders are safeguarded from losses through FHA mortgage insurance. A government-backed mortgage that is insured by the Federal Housing
Administration is known as an FHA loan. FHA home loans are particularly well-liked by first-time homeowners since they have lower minimum credit score requirements and down payments than many conventional loans. Lenders are safeguarded from losses through FHA mortgage insurance.
If a property owner defaults on their mortgage, we'll pay a claim to the lender for the unpaid principal sum. Lenders are able to provide more mortgages to homebuyers because they are taking on less risk.
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The reason for risk pooling which is beneficial for the insurance industry is best described as it brings together many individuals' premiums so that there is money to cover a selected few losses.
Option B is the correct answer.
<h3>Who is a policyholder?</h3>
The policyholder is an individual who takes an insurance policy from an insurance company. He pays insurance premiums against their respective policies.
The insurance contract is an agreement between the individuals and insurance company to indemnify them at the happening of the specified event and individuals also agreed to pay the insurance premiums on time. The risk pooling allows the insurance company to get insured many people against a small amount of money called an insurance premium.
Therefore, risk pooling is valuable for the insurance company in respect of the insurance policies.
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When calculating GDP intermediate goods are eliminated to avoid double counting of goods, as already the input is added which includes these intermediate goods.
<h3>What is GDP?</h3>
GDP stands for Gross Domestic Product. It is the total production of a country and is very essential in growth of a country, developing or poor countries generally have a lower GDP as compared to developed countries.
The amount of intermediate goods can be subtracted from output total to formulate the figure of GDP.
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