Insurance Contracts Are Also Considered ____________ in That They Are

question 34

Multiple Choice

Insurance contracts are also considered ____________ in that they are legal documents that required the insurer to pay if covered events occur. Because the insurance company creates the contract, it is liable if there are any ambiguities in the contract language.

• A) Contracts of adhesion
• B) Bilateral
• C) Unilateral
• D) Incontestable

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Definitions:

Compute Correlation

The process of determining the degree to which two variables are related or move together, often measured by correlation coefficients such as Pearson's r.

Standard Deviation

The average amount of variability in a set of scores or the scores’ average deviation from the mean.

Compute Mean

The process of calculating the arithmetic average of a set of numbers by summing them up and dividing by the count of numbers.

Predictors

Variables used in regression analysis to forecast the value of an outcome variable.