When a Party with the Power to Terminate an Insurance

question 54

Multiple Choice

When a party with the power to terminate an insurance policy exercises that power, a _____ has occurred.

• A) lapse
• B) cancellation
• C) reformation
• D) rescission

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Definitions:

Operation Indicated

A specific mathematical operation that is suggested or required by the context or problem.

Simplify

To make something less complicated or easier to understand, often by reducing it to its basic elements.

Simplify

To simplify something or make it more comprehensible.

Evaluate

To calculate or determine the value of an expression or the solution to a problem.