Which of the Following Statements About a Warranty in an Insurance

question 38

Multiple Choice

Which of the following statements about a warranty in an insurance contract is (are) true?
I.It is part of the insurance contract.
II.Statements made by an insurance applicant are considered warranties rather than representations.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Social Arrangements

The structured ways in which society is organized, including institutions, hierarchies, and social relationships.

Geographic Location

Refers to a specific physical point on Earth's surface as defined by a set of coordinates, or a description like an address.

Globalization

The process of increasing interconnectivity and interdependence of the world's markets and businesses, facilitated by advances in communication and transportation technology.

Economic Integration

A process by which countries reduce trade barriers to enable more free flow of goods, services, and capital among each other, leading to increased economic interdependence.