The Principle of Utmost Good Faith

question 18

Multiple Choice

The principle of utmost good faith:

• A) holds the insurer to a higher standard of honesty
• B) does not apply in life insurance
• C) holds the insured to a higher standard of honesty
• D) requires the insurer and insured to enter the contract with utmost good faith

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Definitions:

Account Segmentation

The process of applying different selling strategies to different customers.

Dining Alone

The act of eating a meal by oneself, which can be experienced differently by individuals, ranging from enjoyable to undesirable.

Sales Territories

Specific geographical areas or market segments assigned to sales representatives as their area of responsibility for selling a company's products or services.

Sales Presentations

Persuasive demonstrations or pitches made to potential clients with the goal of securing a sale, showcasing products or services and their benefits.