Which of the Following Does Not Represent the Position of the Insurance

question 25

Multiple Choice

Which of the following does not represent the position of the Insurance Contracts Act 1984 in relation to the nature of the interest the insured must have in the subject matter of insurance?

• A)The insured must have an insurable interest as defined at common law at the time the contract is made.
• B)It is not necessary to have a property interest in the subject matter at the time a contract is made.
• C)A person can take out life insurance without having an insurable interest in the life insured at the time the contract was made.
• D)An insurance contract will not be void only because the insured did not have an insurable interest at the time the contract was made.

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Definitions:

Autonomy

Autonomy refers to the capacity and right of people to make their own choices and govern themselves independently.

Prefrontal Cortex

The part of the brain located at the front of the frontal lobes, involved in decision making, problem-solving, and controlling social behavior.

Rejected Adolescents

Adolescents who are uniformly disliked.

Controversial

Pertaining to or causing public disagreement, debate, or differing opinions.