When Does an Insurer's Contractual Obligations to the Insured Commence

question 4

Multiple Choice

When does an insurer's contractual obligations to the insured commence?

• A)When the insurance contract is drafted.
• B)When the insurance application is dispatched.
• C)When the insured receives the insurance application.
• D)When the insurer accepts the insurance contract.

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Definitions:

Real GDP Per Person

A measure of the economic output of a country adjusted for price changes (inflation or deflation) and divided by the total population.

Nominal GDP

The gross domestic product calculated at current market prices, reflecting the economy's size without accounting for inflation's effects.

GDP Deflator

An economic measure that adjusts the nominal GDP to reflect changes in price levels, providing a more accurate picture of an economy's size over time.

GDP Per Person

Gross Domestic Product per capita; a measure of a country's economic output that accounts for its number of people.