The Insurable Interest Requirement with Regard to Property Insurance

question 61

Multiple Choice

The insurable interest requirement with regard to property insurance:

• A)may be waived by a writing signed by the insured and insurer.
• B)may be satisfied by a person other than the legal owner of the property.
• C)must be satisfied at the time the policy is issued.
• D)must be satisfied by the insured's legal title to the property at the time of loss.

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Definitions:

Hydrostatic Pressure

The pressure exerted by a fluid at equilibrium due to the force of gravity acting upon it.

Filtration Membrane

A biological or synthetic membrane that acts as a selective barrier, allowing some substances to pass while blocking others, especially used in filtering substances from the blood in the kidneys.

Nephron

The basic structural and functional unit of the kidney, responsible for filtering blood and producing urine.

Glomerular Capsule

A cup-shaped structure surrounding the glomerulus in each nephron of the kidney, where filtration of blood plasma occurs.