Insurable Interest Means That the Policyholder Is the One at Risk

question 47

True/False

Insurable interest means that the policyholder is the one at risk to suffer a loss.

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Definitions:

Operant Conditioning

A behavioral modification method in which the level of an action is shaped by giving incentives or imposing deterrents.

Particular Consequence

Specific outcomes or results that follow from a particular action, decision, or event, with implications for those involved.

Reinforcement Theory

A theory that posits behavior is motivated by its consequences, with reinforcement used to either increase desired behaviors or decrease unwanted ones.

Reinforcement and Reward

Strategies for strengthening or increasing a desired behavior by providing positive outcomes or incentives following that behavior.