Which of the Following Applies to an Insurable Interest in Goods

question 31

Multiple Choice

Which of the following applies to an insurable interest in goods?

• A)Buyers have an insurable interest in goods the moment they pay for the goods.
• B)Buyers have an insurable interest in goods the moment they get the title to the goods.
• C)Sellers have an insurable interest in goods till the risk of loss is with them.
• D)Sellers have an insurable interest in their goods as long as they have title to the goods or a security interest in them.

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Definitions:

Irrational Beliefs

Illogical or unreasonable thoughts and assumptions that can lead to emotional distress and behavioral issues.

Anxiety

A feeling of worry, nervousness, or unease about something with an uncertain outcome.

Depression

A common and serious mental health condition marked by persistent feelings of sadness, hopelessness, and a lack of interest or pleasure in activities.

Systems Approach

A perspective in science and engineering that focuses on understanding the complex interactions within a whole system rather than individual components.