A[n] ______ Clause States That After an Insurance Policy Has

question 60

Multiple Choice

A[n] ______ clause states that after an insurance policy has existed for a specified period of time,the insurance company cannot contest any statements made in the insurance application.

• A) Antilapse
• B) Incontestability
• C) Assurance
• D) Approval
• E) Waiver

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Definitions:

Investing Activities

Deals that include buying and selling assets with long-term value and investments outside of cash equivalents.

Operating Activities

Business actions related directly to the production and delivery of goods and services, reflected in the cash flow statement.

Investing Activities

Transactions and events that involve the purchase or sale of long-term assets and investments, a component of a company’s cash flow statement.

Financing Activities

Actions that result in changes in the size and composition of the equity capital or borrowings of a company.