The Over-The-Counter Market Is

question 22

Multiple Choice

The over-the-counter market is

• A) An Internet based securities exchange for public trading
• B) A central location where dealers trade
• C) A network of dealers linked by computers and telephones
• D) Local public security exchanges similar to bank branches
• E) A central physical location where the general public trades

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Definitions:

Insurer's Promise

The commitment by an insurance company to pay for losses or damages specified in an insurance policy.

Insurance Contract

A legally binding agreement between an insurer and the insured, outlining the terms for the insurer to compensate the insured for specific losses or damages.

Breach of Contract

Occurs when one party in a binding agreement fails to fulfill their obligations without a legitimate legal excuse.

Obligations

Duties or responsibilities enforced by law, contract, or a sense of duty that compel someone to act or refrain from acting in a certain manner.