A Property Insurance Policy May Be Canceled

question 26

Multiple Choice

A property insurance policy may be canceled

• A) at any time by the insurer or the insured.
• B) by the insured only.
• C) by the insurer only.
• D) by the insurance agent only.

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Definitions:

NIRA

The National Industrial Recovery Act of 1933, a key part of the New Deal, aimed at restoring economic stability by reducing unemployment and increasing purchasing power.

Industrial Cornerstone

Fundamental principles or practices that are pivotal to the development and growth of the industrial sector, including innovation, mechanization, and capital investment.

Herbert Hoover

was the 31st President of the United States, serving from 1929 to 1933, best known for his administration's failure to halt the Great Depression.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, leading to high unemployment, deflation, and a significant drop in global trade and investment.