Regarding Property Insurance

question 22

Multiple Choice

Regarding property insurance,

• A) the offer is not accepted until the insurance company delivers the policy to the insured.
• B) property insurance is usually written for a term longer than a year.
• C) one needs to pay the first premium to obtain coverage.
• D) agreements for effecting property insurance are typically less formal than for life insurance.
• E) the insurance agent would not have an agency contract with more than one insurer.

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Definitions:

Trial Court's Judgment

The final decision made by a trial court at the conclusion of a lawsuit, which determines the outcome of the case.

Sheridan Broadcasting

A media company known for its operations in radio broadcasting, particularly in serving African American communities.

Good Faith

An honest intention to act without taking an unfair advantage over another party, often related to contractual dealings.

Honest Belief

Refers to a genuine conviction or acceptance of a fact without intention to deceive, often considered in legal contexts to determine the sincerity of a person’s actions or statements.