The First Step in Developing a Personal Insurance Program Is

question 29

True/False

The first step in developing a personal insurance program is to set insurance goals.

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Definitions:

Implied Warranty

A legal assumption that a product will perform as expected without explicit statements by the seller regarding its quality or performance.

Warranty Of Merchantability

A legal guarantee that a product sold by a merchant fits its ordinary purposes and meets the buyer’s expectations.

Breach

The violation or non-fulfillment of a legal obligation, agreement, or law.

Magnuson-Moss Act

A federal law in the United States that governs warranties on consumer products, aiming to protect consumers against deceptive warranty practices.