A contestability clause bars the insurer from contesting its liability on the policy on the basis of the insured's misrepresentations if the policy has been in force for a specified period of time (usually ten years).
Answer the following statement true (T) or false (F)
False
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The price at which a share of capital stock may be purchased or sold at a given time is called the
a. market value; b. par value; c. stated value; d. book value; e. discount.
Which of the following is not included in Information Capital as described in the balanced scorecard learning and growth perspective?
A. Applications B. Employees' abilities to use technology C. IT Infrastructure D. Intangible assets
Background checks are needed to help prevent ______ hires.
A. negligent B. unreliable C. invalid D. unassessed
Ingle Company paid $12,960 for a four-year insurance policy on September 1 and recorded the $12,960 as a debit to Prepaid Insurance and a credit to Cash. What adjusting entry should Ingle make on December 31 . the end of the accounting period?
a. Prepaid Insurance .................. 810 Insurance Expense ................ 810 b. Insurance Expense .................. 1,080 Prepaid Insurance ................ 1,080 c. Insurance Expense .................. 3,240 Prepaid Insurance ................ 3,240 d. Prepaid Insurance .................. 11,880 Insurance Expense ................ 11,880