Which Part of the Insurance Contract Personalizes the Coverage to the Individual's

question 17

Multiple Choice

Which part of the insurance contract personalizes the coverage to the individual's exposure?

• A)exclusions
• B)insuring agreements
• C)declaration page
• D)conditions

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Definitions:

Financial Liability

A financial liability refers to the obligation to pay money to another party, typically arising from borrowing money, purchasing goods or services on credit, or other financial agreements.

Deferred Revenue

Money received by a company for goods or services which have not yet been delivered or performed.

Notes Payable

Short-term or long-term liabilities representing amounts owed to creditors, documented by promissory notes.

Long-term Note Payable

A debt obligation that is not due for repayment within the next year or operating cycle of the business.