Insurance Law (Intro)

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Business, Health Sciences, Biology
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University
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Hard
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of an insurance contract or policy?
To determine tax obligations
To offer investment opportunities
To provide legal advice
To establish insurance coverage for a specific risk
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is necessary before an individual can mitigate risk for a specific occurrence?
An insurable interest
A legal degree
A government permit
A financial advisor
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who are the main parties involved in an insurance relationship?
The government, the bank, and the insured
The insured, the bank, and the lawyer
The insured, the insurer, and third parties
The lawyer, the insurer, and the insured
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is contingent risk in the context of insurance?
A risk that is certain to happen
A risk that depends on a specific event occurring
A risk that is covered by all insurance policies
A risk that is not covered by any insurance
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Under what conditions can an insurer terminate an insurance contract?
Only with the insured's consent
Without any notice
With proper notice and within specified time periods
At any time, regardless of circumstances
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