Which of the Following Is True About the Parties to an Insurance

question 66

Multiple Choice

Which of the following is true about the parties to an insurance policy?

• A) The insured and the owner can be the same person.
• B) The owner and beneficiary can be the same person.
• C) The insurer and the insured can be the same person.
• D) The beneficiary cannot be changed during the period that the policy is in effect.
• E) Both A and B.

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Definitions:

Insufficient Funds

A situation where one's bank account does not have enough money to cover transactions.

Negotiable Note

A financial instrument guaranteeing payment of a specific amount, which can be transferred among parties.

Cleverly Alters

Deliberately modifies or changes something in a skillful manner to achieve a specific purpose or effect.

Recourse

The right of an individual or entity to seek compensation or legal redress in the event of a breach of contract or other legal injury.