Most Insurance Contracts Are Prepared by the Insured and Then

question 55

True/False

Most insurance contracts are prepared by the insured and then accepted or rejected by the insurer.

---

Definitions:

Total Return

The overall financial gain or loss on an investment over a specific time period, including income from dividends and interest, as well as capital gains.

Endowment Investment

The use of donated funds, typically for universities or non-profit organizations, to generate income while keeping the principal amount intact.

Accounting

The systematic process of recording, measuring, and communicating information about financial transactions.

Statement of Financial Position

A financial statement that shows an organization's assets, liabilities, and net equity at a specific point in time, often referred to as a balance sheet.