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Exam (elaborations)
Massachusetts Insurance Agent Exam Answered with 100% Correct Answers
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5
November 2024
2024/2025
A+
What are the two components of an agreement? - Ans: Offer and acceptance.
Elements of a legal contract - Ans: 1. Agreement 2. Consideration 3. Competent Parties 4. Legal Purpose
Property and Liability Policy - Ans: Owned by the policy owner. It is a personal contract.
Who is not considered to have legal capacity? - Ans: 1. Minors 2. Insane Persons 3. Individuals Under the Influence 4. Person Coerced 5. Enemy Aliens 6. Convict
Unilateral - Ans: An act in exchange for a promise or a pr...
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