Donald applies for a life insurance policy with Equity Insurance Company through Fletch, an agent who works for Equity. Donald pays the initial premium. Fletch writes a binder, which
A. acknowledges the application and promises to consider it.
B. attests to the truth of each statement in the application
C. evidences receipt of the payment of the initial premium.
D. indicates that a policy is pending and states its essential terms.
Answer: D
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Answer the following statement true (T) or false (F)