As a General Rule, If an Applicant Suffers a Loss

question 27

Multiple Choice

As a general rule, if an applicant suffers a loss after applying but before the insurer formally accepts the application, the:

• A) insurer must cover the loss.
• B) applicant and the insured must bear the loss equally.
• C) applicant must bear the loss.
• D) insurer must cover the loss only if there is no binder.

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Definitions:

Booker T. Washington

An influential African American educator, author, and advisor to several U.S. Presidents, who advocated for the economic and educational advancement of African Americans in the late 19th and early 20th centuries.

Annexation Of The Philippines

The process by which the United States took control of the Philippines from Spain in 1898 following the Spanish-American War.

American-Philippine Conflict

Refers to a period of armed conflict between the United States and Filipino revolutionaries from 1899 to 1902, resulting in the Philippine-American War.

Black Soldiers

African American military members who have served in various capacities and conflicts, often facing racial discrimination.