At Common Law,the Insured in Every Contract of General Insurance

question 12

Multiple Choice

At common law,the insured in every contract of general insurance had to have something called:

• A)Pecuniary Interest.
• B)Equitable Interest.
• C)Valuable Interest.
• D)Insurable interest.

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Definitions:

Standard Deviation

Standard deviation is a statistical measure that quantifies the amount of variability or dispersion in a set of data values, indicating how much the individual data points differ from the mean of the data set.

Distribution

The arrangement of values of a variable showing their observed or theoretical frequency of occurrence.

Variation

The occurrence of differences or changes in the characteristics of organisms or objects within a population or set.

Extreme Scores

Data points in a set that are significantly higher or lower than the majority.