Which of the Following Statements Is True of Insurance Policies

question 41

Multiple Choice

Which of the following statements is true of insurance policies?

• A)The basic principles of contract law apply to insurance policies.
• B)Insurance companies tend to standardize their policies.
• C)Some states forbid standardization of insurance policies.
• D)All of the above.
• E)(a) and (b), but not (c).

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Definitions:

Gender

A social construct used to classify a person as a man, woman, or other identity, based on societal roles, behaviors, and characteristics.

Number of Siblings

The count of brothers and sisters an individual has.

Type I Error

Wrongly dismissing a true null hypothesis, commonly called a "false positive."

Type II Error

The statistical error occurring when a test fails to reject a false null hypothesis, also known as a "false negative."