Temporary Insurance Coverage Prior to the Issuance of the Actual

question 30

Multiple Choice

Temporary insurance coverage prior to the issuance of the actual policy may be obtained by use of a(n) :

• A) premium agreement.
• B) coinsurance clause.
• C) option clause.
• D) binder.

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Definitions:

Secretary

An individual employed to handle correspondence, keep records, and perform clerical and administrative duties, often assisting an individual or an office within an organization.

Paralegal

A professional who assists lawyers in the delivery of legal services, performing tasks such as research, preparing legal documents, and managing cases but is not qualified to represent clients in court.

Managing Partner

The person responsible for the overall operation and management of a partnership, often leading its strategic direction and making major decisions.

Business Operations

The day-to-day activities and practices that a business engages in to generate revenue and manage its resources efficiently.