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:

Government Policies

Actions and principles that a government follows or implements to achieve certain goals in the country's social, economic, and foreign affairs.

Extra Profit

Additional earnings that exceed the normal expected profit from business activities.

Rent-Seeking Behavior

Actions by individuals or firms aimed at manipulating the political or economic environment to acquire unearned income or profits.

Principal-Agent Problem

A conflict in priorities between a person or group making decisions on behalf of others (agent) and those who are affected by those decisions (principal).