A False Statement on an Insurance Policy Application

question 27

Multiple Choice

A false statement on an insurance policy application

• A) voids the policy.
• B) has no effect on the validity of the policy.
• C) raises the premium.
• D) may permit the insurer to void the policy.

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Definitions:

Normal Curve

A symmetrical, bell-shaped curve that represents the distribution of many types of data where most occurrences take place around the average.

Standard Deviations

A statistical metric that illustrates the dispersion or variation from the average or mean within a data set.

Standardized Test

A test administered and scored in a consistent manner, used to measure proficiency in a specific area of knowledge or skill.

Standard Deviation

Standard deviation is a statistical measure that quantifies the amount of variation or dispersion of a set of data values around the mean (average).