Which of the Following Statements About Fire Insurance Is Correct

question 7

Multiple Choice

Which of the following statements about fire insurance is correct?

• A)A fire policy is a contract of assurance.
• B)A fire policy is a contract of contingency.
• C)A fire policy is a contract of indemnity.
• D)A fire policy is a contract of property insurance.

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Definitions:

Fortuitous Event

An event happening by chance or accident, often beyond an individual's control, influencing situations or outcomes in unexpected ways.

Bandura's Theory

Focuses on how people learn by observing others, emphasizing the importance of modeling, imitation, and social influences in learning.

Personality Theories

A set of approaches and models aimed at explaining the variations in individuals' thoughts, feelings, and behaviors by outlining differing personality types and traits.

Radical Behaviorism

A perspective in psychology, advanced by B.F. Skinner, that views behavior as a subject of natural science without recourse to inner psychological events.