To Prevent the Use of the Insurance Policy for Wagering

question 38

Multiple Choice

To prevent the use of the insurance policy for wagering purposes,the person who is to be indemnified under the contract must have:

• A) good faith.
• B) an insurable interest.
• C) a binder.
• D) a coinsurance clause.

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Definitions:

Karst

A landscape formed from the dissolution of soluble rocks such as limestone, characterized by sinkholes, caves, and underground rivers.

Iron and Aluminum

Essential metals abundant in the Earth's crust, often forming various minerals and playing crucial roles in industrial applications.

Leached

Leached describes the process by which soluble nutrients or chemicals are washed out of soil or materials due to the movement of water.

Tropical Climate

A non-arid climate characterized by consistent high temperatures throughout the year, usually found within 23.5 degrees north or south of the equator.