Examlex

Solved

To Reduce Adverse Selection, Insurance Providers Collect Information on Policyholders

question 84

Multiple Choice

To reduce adverse selection, insurance providers collect information on policyholders. This is known as ________.


Definitions:

Prime Vacant Land

Land in a highly coveted location that is undeveloped and offers great potential for investment, construction, or development due to its desirable characteristics.

Enforceable Contract

A legal agreement between parties that is valid under the law and therefore can be upheld in a court of law.

Legal Consideration

Legal consideration involves something of value that is exchanged between parties in a contract, making the agreement legally enforceable.

Lease Option

A contract that permits a party to lease real property while holding an option to purchase that property.

Related Questions