When Must an Insurable Interest Exist for Life Insurance and Property

question 37

Multiple Choice

When must an insurable interest exist for life insurance and property insurance,respectively?

• A) At the time of policy issuance,and at the time of loss.
• B) At the time of policy issuance,and at the time of payment of the premium.
• C) At the time of loss,and at the time of policy issuance.
• D) At the time of policy issuance for both life insurance and property insurance.
• E) At the time of loss for both life insurance and property insurance.

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Definitions:

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High-performance computers designed for technical or scientific applications, often used in professional contexts.

Employees

Individuals who are hired by a company or organization to perform specific duties and tasks in exchange for compensation.

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A method used in accounting to allocate service department costs to producing departments based on a hierarchy or sequence of steps.

Service Department Costs

Expenses associated with departments that support the production process but do not directly contribute to the actual production of goods or services.