In Every Insurance Contract

question 13

Multiple Choice

In every insurance contract

• A) there is an endorsement.
• B) an insurable interest must be present.
• C) the insured pays the premiums.
• D) there is an endorsement and an insurable interest must be present.
• E) All of the responses are correct.

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Definitions:

Capital Account

Refers to a financial statement that shows the changes in a company's equity during a specific period due to transactions with its owners, such as stock issuance and dividend payments.

Genuine Progress Indicator

An economic measure that includes well-being and sustainability, beyond just economic transactions.

Gross Domestic Products

The total value of all goods and services produced over a specific time period within a country's borders.