IDs and Paired-Concept Questions

question 17

Short Answer

IDs and Paired-Concept Questions
These terms can be used individually as short-answer identification questions, or they can be used in pairs. In the latter case, ask students to explain (1) the meaning and significance of each of the two terms and (2) the relationship between them.
-South Korea,Taiwan

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Definitions:

Voidable

A term describing a contract that may be affirmed or rejected at the option of one of the parties.

Policy

The contract of insurance.

Life Insurance Policy

A contract between an insurer and a policyholder that pays a designated beneficiary a sum of money upon the death of the insured person.

Beneficiaries

Individuals or entities designated to receive benefits or assets from a will, trust, insurance policy, or other legal agreement.