Which of the following statements is true of insurance?
A) It has to be paid after the risk has been encountered.
B) It can be obtained even if one has no insurable interest in the property being insured.
C) It is a means of transferring and distributing the risk of loss.
D) It cannot be modified once issued.
Correct Answer:
Verified
Q8: Who is an underwriter?
A) a lawyer who
Q9: Insurance is a form of coverage for
Q10: An insurance broker is an agent of
Q11: _ is a requirement that a person
Q12: Which of the following is an insurer's
Q14: Insurance policies can only be sold by
Q15: Insurance coverage is typically suspended during grace
Q16: An insurance contract is called a _.
A)
Q17: For a life insurance, insurable interest is
Q18: The _ is a duty of the
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