Which of the following statements best describes the result when an insured under a policy of life insurance has not disclosed to the insurer that he is an avid bungee jumper?
A) The insured has breached his fiduciary duty to the insurance company
B) The insured has not breached any duty owed to the insurance company as bungee jumping is legal.
C) The insured has breached the duty of utmost good faith owed to the insurer.
D) The insurer can claim punitive damages against the insured for the non-disclosure.
E) The insurer has accepted the undisclosed risk by virtue of its failure to ask the question.
C
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A series of business and related auditing failures led to the passage of the Sarbanes-Oxley Act (2002).
Answer the following statement true (T) or false (F)
Which symptom of groupthink causes group members to interpret silence as agreement?
A. mindguards B. self-censorship C. illusion of unanimity D. inherent morality
On January 1 of Year 1, Congo Express Airways issued $3,250,000 of 5% bonds that pay interest semiannually on January 1 and July 1. The bond issue price is $2,930,000 and the market rate of interest for similar bonds is 6%. The bond premium or discount is being amortized at a rate of $10,667 every six months. The amount of interest expense recognized by Congo Express Airways on the bond issue in Year 1 would be:
A. $183,834. B. $162,500. C. $195,000. D. $141,166. E. $91,917.
Which objective is generally pursued by only large retailers or retail chains?
a. sales b. market share c. profitability d. stability of profits