If Geoff makes a fraudulent statement about his medical history and fails to disclose relevant facts about his medical history in his application for insurance, the insurance company ________.

A. cannot consider the contract voidable
B. has a right to cancel Geoff's policy
C. has to adjust the benefits payable at Geoff's discretion
D. cannot cancel the policy unless Geoff misrepresented his age as well


Answer: B

Business

You might also like to view...

Indirect expenses are allocated to specific departments to determine departmental direct operating margins

a. True b. False Indicate whether the statement is true or false

Business

Intermediate technology is

A. lean production. B. synonymous with necessary technology. C. older technology previously used by multinationals. D. technology between the capital- and labor-intensive processes.

Business

Most insurance companies require their marketing representatives to submit an evaluation of the prospective insured. This important source of underwriting information is called the

A) application. B) agent's report. C) inspection report. D) physical inspection.

Business

Pizza Aroma delivered $500 of pizzas to the local high school, but hasn't received payment yet. Pizza Aroma will report:

Business