In Property Insurance, to Collect for a Loss, Insurable Interest

question 78

Multiple Choice

In property insurance, to collect for a loss, insurable interest must exist:

• A) at the beginning of the contract
• B) at all times
• C) when the insurer waives it
• D) at the time of the loss

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Definitions:

Commission Incomes

Earnings made based on a percentage of sales or transactions completed, common in sales roles.

Confidence Interval

An estimated span, defined by a certain probability, that is anticipated to include the accurate measure of a yet-to-be-determined demographic variable.

Variance

A measure of the dispersion or spread of a set of data points or random variables, showing how much the values differ from the mean of the set.

Allergies

Immune system responses to a foreign substance that's not typically harmful to the body, such as pollen, certain foods, or pet dander.