In regards to a life insurance contract, which of the following statements is NOT true regarding the concept of insurable interest?
A) Individuals are assumed to have insurable interest in themselves
B) Insurable interest is established by a court of law
C) Insurable interest can be established sufficiently by sentimental attachment alone
D) Insurable interest must exist at the time of the application
Answer: C) Insurable interest can be established sufficiently by sentimental attachment alone
Business
You might also like to view...
You lease a storeroom on a percentage basis. The lease calls for a minimum rental of $300 per month and 5% of the gross annual sales over $80,000. How much is the annual rent with a gross annual business of $150,000?
a. 7500 b. 3500 c. 3600 d. 7100
Business
Earnings, or net income, is the focus of financial reporting
Indicate whether the statement is true or false
Business