Which of the Following Statements About Offer and Acceptance for Insurance

question 10

Multiple Choice

Which of the following statements about offer and acceptance for insurance contracts is true?

• A)In property and liability insurance,agents typically do not have the authority to bind coverage.
• B)In life insurance,the agent can usually accept an offer by immediately binding coverage.
• C)In property insurance,the offer and acceptance are usually in writing but may be oral.
• D)In life insurance,the offer is merely the promise to pay the first premium.

---

Definitions:

Rorschach Inkblot Test

A projective psychological test consisting of 10 inkblots printed on cards (created by Hermann Rorschach) used to analyze a person's personality characteristics and emotional functioning.

Dream Analysis

A therapeutic technique in psychology aimed at exploring the hidden meaning and symbols within dreams to uncover underlying thoughts and feelings.

Free Associations

Encouragement for a person to express a stream of consciousness to unearth subconscious thoughts and feelings.

Principle of Equivalence

In physics, specifically in general relativity, it is the principle stating that gravitational and inertial forces are of a similar nature and often indistinguishable.