A Statement of the Insured That Relates to the Risk

question 19

Multiple Choice

A statement of the insured that relates to the risk is called a .

• A)false representation
• B)warranty
• C)subrogation
• D)estoppel

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Definitions:

Open-Book Account

An account that is open to charges made occasionally as needed.

Charges

Fees or payments required for services, or the formal accusations of wrongdoing.

Account Type

A classification that determines the features and rules applied to a financial or service account, such as savings, checking, or investment accounts.

Collections

The process or practices involved in pursuing payments of debts owed by individuals or businesses.