Which of the Following Is Correct Concerning When Insurable Interest

question 2

Multiple Choice

Which of the following is correct concerning when insurable interest must exist?

• A)in property and liability insurance, it must exist at the inception of the contract
• B)it is seldom required in property insurance unless there are liens on the property
• C)it must exist at the time of death of the insured for the beneficiary to collect in life insurance
• D)in life insurance it must exist at the inception of the policy but it is not necessary at the time of the loss

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Definitions:

Snail Racing

Snail Racing is a humorous or novelty event where snails are raced against each other over a certain distance.

Toe Wrestling

A competition where two opponents lock feet and strive to pin each other's foot down.

Bog Snorkeling

A competitive sport where participants race through a water-filled trench cut through a peat bog, using snorkels and flippers but without conventional swimming strokes.

Worm Charming

An activity or competition where participants attempt to entice worms out of the ground without digging or harming them.