Identifying in an Insurance Policy the Specific Perils Covered Is

question 18

Multiple Choice

Identifying in an insurance policy the specific perils covered is a __________ approach.

• A) no-risk
• B) named-peril
• C) coinsurance
• D) all-risk

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Definitions:

Forgery

The act of fraudulently making, altering, or falsifying a document or other object with the intent to deceive or defraud.

Real Defense

Legal defenses that can be used to invalidate a claim in a contract or to nullify the contract itself.

Holder In Due Course

A party that acquires a negotiable instrument in good faith and for value, and is thus protected from many defenses that could be raised against the original payee.

Consumer Credit Contract

A legal agreement between a borrower and a lender where the lender provides the borrower with credit for personal, family, or household purposes.