Which of the Following Statements Is Most Likely to Be

question 51

Multiple Choice

Which of the following statements is most likely to be TRUE with respect to insurance?

• A)First party insurance and third party insurance may both apply to the same set of events.
• B)The phrase "third party insurance" refers to the fact that an insurance company used an agent to sell a policy to a customer.
• C)The phrase "first party insurance" refers to the fact that the insured party must immediately contact the insurance company after being sued for a type of loss that the insurance policy covers.
• D)Liability insurance imposes a duty of utmost good faith on the insured party, but property insurance does not.
• E)The phrase "self-insure" refers to the fact that a company has purchased an insurance company that covers all of its employees, rather than requiring those employees to individually insure themselves.

---

Definitions:

Social Identity Theory

A psychological framework that posits individuals derive part of their self-concept from their perceived membership in social groups.

Social Categories

Groups of people sharing common characteristics, often used to classify individuals based on aspects like race, gender, or religion.

Attributing Behavior

The process of inferring the reasons behind others' actions and behaviors.

Internal Causes

refer to factors within an individual, such as personal beliefs or emotions, that influence their behavior or actions.