What is the practical effect of an insurance policy being a conditional contract?
A) The insurer can refuse to a pay claim if the insured has not complied with all policy provisions.
B) The insured can assign the policy only with the insurer's consent.
C) The insurer can sue the insured for failure to pay any premiums.
D) The insured gets the benefit of the doubt if a policy contains any ambiguities or uncertainties.
Answer: A
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Companies prepare classified financial statements because they are required by international accounting principles
a. True b. False Indicate whether the statement is true or false
Coding ________ questions is relatively simple since the response options are predetermined
A) unstructured B) open-ended C) structured D) free-flowing E) uniform
What does the debt to equity ratio show, and how is it calculated?
What will be an ideal response?
The asset turnover ratio measures
a. how quickly the company uses assets to pay debt. b. how efficiently assets are used to produce sales. c. the income produced by selling inventory. d. how efficiently equity is used to produce revenue.