Which of the Following Statements About the Entire Contract Clause

question 34

Multiple Choice

Which of the following statements about the entire contract clause is true?

• A)It allows the insurer to change the policy terms without the insured's consent.
• B)It specifies that all statements in the application are considered warranties.
• C)It specifies that the life insurance policy and the attached application constitute the complete agreement between the parties.
• D)It prevents the insurance company from contesting a policy after it has been in force for two years during the lifetime of the insured.

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Definitions:

Cooperating

The act of working together towards a common goal or purpose.

Competing

An approach to conflict resolution where one party seeks to achieve their goals without regard for the interests or needs of the other party, emphasizing winning over cooperating.

Goal Structure

The arrangement and prioritization of goals within an individual or organization, affecting motivation and the strategies used to achieve these goals.

Competitive

Having a strong desire to be more successful than others; often involves comparisons and rivalries.