In Which of the Following Circumstances Can an Insurer Void

question 61

Multiple Choice

In which of the following circumstances can an insurer void an insurance contract?

• A)The insured made material misrepresentations in the insurance application and if the insurer would have known of these material representations,it would have rejected the application.
• B)The insured made material misrepresentations in the insurance application,but the insurer knew these representations were likely false when it issued the policy.
• C)The insured failed to disclose any fact;material or nonmaterial,on the insurance application and the insurer relied on the information contained in the application when it issued the policy.
• D)The insured made material misrepresentations in the insurance application,but the insurer did not rely on these representations when it issued the policy.
• E)The insured made material misrepresentations in the insurance application,regardless if the misrepresentation would have altered the insurer's decision to issue the policy.

Understand the concept of budgeting in different business scenarios.

Calculate activity variances and identify them as favorable or unfavorable.

Prepare flexible budgets based on actual activity levels.

Analyze the financial performance of a company through its activity variances.

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Definitions:

Deepening of the Voice

A change that typically occurs during puberty, involving the lowering of vocal pitch, especially noted in males.

Four-Year Institution

An educational establishment that offers bachelor's degrees and typically requires four years of full-time study.

Public University

An institution of higher education and research which is supported by public funds and usually affiliated with a national or state government.

High-Stakes Testing

Evaluation methods where the results have significant consequences for the test-taker, such as standardized tests for college admission or professional certification.