In Most Cases,it Is Not Possible for an Insured to Cancel

question 78

True/False

In most cases,it is not possible for an insured to cancel an insurance policy before the date of its maturity.

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Definitions:

Common Share

A type of equity ownership in a corporation, giving shareholders voting rights and a share in the company's profits through dividends.

Par Value

The nominal value of a bond or stock as declared by the issuer, not always representing its current market price.

Journal Entries

Recorded transactions in the accounting books that track all financial activities of a business.

Common Stock

A type of security that represents ownership in a corporation, with holders usually having voting rights and a claim on profits in the form of dividends.