Which of the Following Statements Is True About an Insurable

question 52

Multiple Choice

Which of the following statements is true about an insurable interest?

• A) An insurable interest is the right to insure goods in one's possession.
• B) It is not relevant when an insurable interest is created.
• C) Only the buyer can insure itself for potential damage to goods.
• D) Only the seller can insure itself for potential damage to goods.
• E) Both the buyer and seller can insure themselves for potential damage to goods.

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Definitions:

Votes Cast

The total number of ballots submitted or votes given in an election or decision-making process.

Independence Test

A statistical procedure used to determine if two or more variables are independent of each other.

Row and Column Factors

In a matrix or a table, the variables or conditions that are represented by the rows and columns, important for analysis of variance and other statistical methods.

Observed Values

The actual data or outcomes that have been collected or measured in a study.