An "Insurable Interest" Can Best Be Described As

question 62

Multiple Choice

An "insurable interest" can best be described as:

• A) the insured having paid the premiums of an insurance policy, as called for in the policy.
• B) a financial interest in the real or personal property being insured, in the sense that if the insured did not acquire insurance, he or she would suffer a monetary loss resulting from damage to or destruction of the property.
• C) the item in question being fully-covered under a valid insurance policy.
• D) the item is question being fully capable of identification at the time of a loss, even if it could not have been identified at the time the policyholder acquired the insurance policy.
• E) the item of interest being owned by a person different from the person who takes out the insurance.

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Definitions:

Underlying Tissue

Tissue that lies below the surface of an organ or structure, often referring to tissue that is affected by disease or injury.

Density

A physical property of matter defined as mass per unit volume, often used to describe how compact or concentrated an object is.

Palpation

The process of examining part of the body by touch, used for medical diagnosis.

Sense of Touch

One of the five senses, allowing humans to perceive pressure, temperature, and pain through skin contact.