Omni Insurance Company violates a state licensing statute when selling an insur¬ance policy to Petra, in whose state Omni is not licensed to sell insurance. As a member of the class of persons protected by the statute, Petra can
a. do nothing with respect to the policy.
b. enforce the policy or recover the amount of the premiums paid.
c. only enforce the policy.
d. only recover the amount of the premiums paid.
B
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A key failure of large structural macroeconomic models, according to the theory of rational expectations, is that the models assumed that expected inflation is independent of
A. monetary policy. B. past inflation. C. interest rates. D. aggregate demand.
What is an exemption under the bankruptcy laws?
A) An administrative expense that does not need to be paid B) A debt that is not forgiven C) A debt that does not need to be paid D) An asset that is not required to be used toward satisfaction of debts E) A law that does not need to be complied with
The matching principle states that ________
A) financial statements can be prepared for specific periods B) a business's activities can be sliced into small time segments C) all expenses should be recorded when they are incurred during the period D) companies should record revenue when it has been earned
What is the probability that a number drawn from the standard normal distribution will NOT be between -1 and 1?
A) 0.22 B) 0.32 C) 0.42 D) 0.52