Which of the Following Statements About a Warranty in an Insurance

question 38

Multiple Choice

Which of the following statements about a warranty in an insurance contract is (are) true?
I.It is part of the insurance contract.
II.Statements made by an insurance applicant are considered warranties rather than representations.

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

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Definitions:

Expansion Opportunities

Opportunities for a business to grow, either through entering new markets, increasing product lines, or acquiring other businesses.

Sole Proprietor

An individual who owns and operates a business alone, bearing sole responsibility for its operations and liabilities.

Dissolve

To disperse or disappear into a solution, or in a corporate context, to legally terminate a company.

Domestic Corporation

A corporation that is registered and operates within its country of incorporation.