A Person Who Would Suffer a Direct Pecuniary Loss If

question 21

Multiple Choice

A person who would suffer a direct pecuniary loss if a particular piece of property were destroyed has a(n) :

• A) contractual risk.
• B) hazard.
• C) underwriting.
• D) insurable interest.

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Definitions:

Nature and Quality

A term that refers to the essential characteristics and standards of goods or services.

Commercial Activity

Any type of business operation or venture that involves the exchange of goods or services for profit.

Federal Jurisdiction

The authority granted to federal courts and government to govern and make legal decisions on certain issues and cases, often defined by law or constitution.

State Jurisdiction

The authority given to a state to govern and enforce laws within its territory.