Examlex
According to reinforcement theory, if rewards are removed from behaviors that were previously reinforced, the behaviors are likely to decrease in frequency and eventually disappear.
Loss Occurs
Refers to the moment when a financial loss happens due to an insured event.
Insurable Interest
A requirement that a person seeking to purchase insurance has a sufficient stake in the safety or preservation of the insured item or individual to obtain insurance coverage.
Named Beneficiary
An individual, group, or entity explicitly designated to receive benefits from a policy or account.
Partnership
A lawful business structure operated by two or more people who divide management duties and share the profits.
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