The Value of the Consideration Paid to Keep a Costly

question 57

Multiple Choice

The value of the consideration paid to keep a costly but very adequate policy in good standing will most likely provide strong support for which of the following?

• A) failure to protect the creditor's rights to the pledged property
• B) the right to be compensated for occurrence of an insured event
• C) entitlement based on strict use and simple registration of the policy
• D) the courts' need to balance value of tangible and intangible property

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Definitions:

Normative Time

A societal or culturally established timeframe for when certain life events or developmental milestones are expected to occur.

Five-factor Model

A conceptual model based on the theory that five broad dimensions are sufficient to describe human personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Extraverted

Describes individuals who are outgoing, sociable and draw energy from being around other people.

Gregarious

Describing a person or animal that enjoys being in social groups and often seeks the company of others.