Dave and Meagan Philips borrowed $150,000 from Fifth National Bank to help fund the purchase of a new home. The home serves as collateral for the loan. Fifth National has an insurable interest in the home based on

Dave and Meagan Philips borrowed $150,000 from Fifth National Bank to help fund the purchase of a new home. The home serves as collateral for the loan. Fifth National has an insurable interest in the home based on 



A) potential responsibility for legal liability.
B) being a secured creditor.
C) expectation of ownership.
D) having a contractual right.


Answer: B) being a secured creditor.

Popular posts from this blog

Jim has been arrested for drunk driving. In order to be allowed out of jail before his court date, Jim will most likely need: