When Must an Insurable Interest Legally Exist in Property Insurance

question 14

Multiple Choice

When must an insurable interest legally exist in property insurance for an insured to receive payment for a loss from the insurer?

• A)only at the time of the loss
• B)only at the inception of the policy
• C)only at the time the loss settlement takes place
• D)both at the time of the loss and at the inception of the policy

---

Definitions:

Synaptic Vesicles

Small organelles within neurons that store neurotransmitters, which are released into the synaptic cleft during synaptic transmission.

Neurotransmitters

Chemicals located and released in the brain to allow an impulse from one nerve cell to pass to another nerve cell.

Electron Microscope

A type of microscope that uses a beam of electrons to create an image of a specimen, offering higher resolution than traditional light microscopes.

Synaptic Structure

Refers to the physical and functional arrangement of synapses, which are the points of communication between neurons, allowing for the transmission of signals.