For Property Insurance, an Insurable Interest Must Exist: _____

question 49

Multiple Choice

For property insurance, an insurable interest must exist: _____.

• A) at the time the policy is purchased.
• B) at the time of the loss.
• C) both at the time the policy is purchased and at the time the loss is sustained.
• D) for at least thirty (30) days before the loss is sustained.

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Definitions:

Involuntary Condition

A state or condition not under the individual's conscious control, often referring to reflex actions or physiological responses.

Physical Dependence

Condition occurring when a person’s body becomes unable to function normally without a particular drug.

Drug Tolerance

A physiological state where the effectiveness of a drug decreases as a result of its repeated use, necessitating higher doses to achieve the same effect.

Abusing Drug

The misuse or overuse of drugs, typically for nonmedical purposes, which often leads to addiction or harm.