Which of the Following Statements About an Insurable Interest in Life

question 32

Multiple Choice

Which of the following statements about an insurable interest in life insurance is (are) true?
I.It is required of any person named as beneficiary.
II.It may result from a pecuniary (financial) interest.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Lynching

The illegal execution of an individual by a mob, typically by hanging, without lawful trial.

Deprivation

A state of lacking or being denied necessary goods or qualities, leading to adverse physical or psychological effects.

Contagion

The process by which extreme passions supposedly spread rapidly through a crowd like a contagious disease.

Labor Efficiency

The measure of the output (in terms of goods produced or services rendered) per unit of labor input.