Which of the following terms describes an insured's oral or written statement that becomes part of an insurance contract?

A) Misrepresentation.

B) Warranty.

C) Representation.

D) Waiver.

Answer: B

Insurance Transaction

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In an insurance contract, the applicant's "consideration" is the
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The voluntary relinquishment of a legal right is called
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All of the following statements are true regarding installments for a fixed amount EXCEPT
Fraternal Benefit Society has each of the following characteristics EXCEPT
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All of the following are true regarding rebates EXCEPT
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Life income joint and survivor settlement option guarantees
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