Which of the Following Is True About Insurable Interest Regarding

question 55

Multiple Choice

Which of the following is true about insurable interest regarding property insurance?

• A) Only one party can have an insurable interest in the same item at the same time.
• B) A party has an insurable interest in any item for which the party can establish a value.
• C) The insurable interest in the property must exist at the time there is a loss.
• D) The insurable interest in the property must exist at the time of the policy issuance.
• E) Both A and C.

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Definitions:

Sociological Theorists

Scholars and researchers who specialize in developing theories to understand social behaviors, structures, and systems.

Retroactive Interference

A memory disturbance in which new information impairs the retention of previously learned information.

Proactive Interference

The phenomenon where old memories make it more difficult to learn and remember new information.

Cue-dependent Forgetting

The failure to recall information in the absence of specific cues or conditions that were present at the time of memory encoding.