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Waldron and Farris Both Must Make a Presentation to Their

question 72

Multiple Choice

Waldron and Farris both must make a presentation to their psychology class.Although Farris is feeling confident and relaxed,Waldron is very nervous about the presentation.Which of the following provides the best explanation of the two students' experience?


Definitions:

Loss Occurs

Refers to the moment when a financial loss happens due to an insured event.

Insurable Interest

A requirement that a person seeking to purchase insurance has a sufficient stake in the safety or preservation of the insured item or individual to obtain insurance coverage.

Named Beneficiary

An individual, group, or entity explicitly designated to receive benefits from a policy or account.

Partnership

A lawful business structure operated by two or more people who divide management duties and share the profits.

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