The Fair Credit Reporting Act of 1970 requires which of the following?

a. The insurance company must publish a financial statement for the preceding fiscal year and make it available upon request to all applicants for insurance.

b. Medical information must be sent to the applicant if requested.

c. If the policy is rejected or rated as a result of false or incomplete information, the applicant can force the inspecting company to change its records.

d. Consumer reports cannot contain information on bankruptcies more than 10 years old.

Answer: D

Insurance

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

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The two major actions required for a policyholder to comply with the Reinstatement Clause are
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Ambiguities in an insurance policy are always resolved in favor of the
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The voluntary relinquishment of a legal right is called
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What is the benefit of choosing extended term as a nonforfeiture option?
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