In Property Insurance, Insurable Interest Must Exist at the Time

question 21

True/False

In property insurance, insurable interest must exist at the time of the loss.

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Definitions:

Nonparametric Test

A type of statistical test that does not rely on data belonging to any particular distribution.

Matched-Pairs Sample

A sampling technique in which pairs of subjects are matched on key characteristics, and differences within pairs are analyzed.

Frequency Distributions

A tabular or graphical representation showing the frequencies of different values in a dataset.

Friedman Test

A non-parametric analysis method employed to identify treatment variations over numerous testing trials.