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Insurance Licensing Actual Exam |Questions Solved 100% Correct
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An insured owns 4 stores. As inventory is sold, the insured transfers new inventory from other locations to the store making the sales. Which type of policy would best fit this insured's needs? A) Value reporting policy B) Specific policy C) Scheduled policy D) Blanket policy - D) Blanket policy All of the following statements about aleatory contracts are true EXCEPT: A) in an aleatory contract, the insured my pay only a few premiums and the insurer will be paying much more for a claim B) aleatory contracts have an unequal value C) aleatory contracts have an equal value D) in an aleatory contract, the insured may pay premiums for many years and never receive any money from the insurer - C) aleatory contracts have an equal value
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