Which of the Following Need Not Occur in Order for an Insurance

question 4

Multiple Choice

Which of the following need not occur in order for an insurance contract to be formed?

• A)The engagement of an insurance broker by the insured.
• B)The completion of a proposal by the insured.
• C)The payment of a premium by the insured.
• D)The acceptance of the risk by the insurer.

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Definitions:

Negotiation

The process by which the buyer and the seller reach a mutually satisfactory agreement.

Forestall

To prevent, hinder, or obstruct an event, action, or outcome by taking advanced or anticipatory measures.

Objections

Concerns, hesitations, or reasons a potential customer has for not making a purchase, which a salesperson aims to overcome through objection handling techniques.

Setting A Condition

Establishing a specific requirement or criteria that must be met in a given situation or agreement.