To pay a claim, insurable interest with casualty insurance must exist

a. At the time the policy is issued

b. By the effective date of the policy

c. When the policy is being underwritten

d. At the time of loss

Answer: d. At the time of loss

Insurance

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A domestic insurer issuing variable contracts must establish one or more
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The pro rata liability clause is designed to protect the principle of
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Life insurance policies will normally pay for losses arising from
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In an insurance contract, the applicant's "consideration" is the
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How many pair of glasses in a 12-month period will a vision expense insurance plan cover?
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
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Which of the following statements about accumulated interest earned on dividends from an insurance policy is TRUE?
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All of the following are true regarding a decreasing term policy EXCEPT
Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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The authority granted to a licensed producer is provided via the
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All of the following entities regulate variable life policies EXCEPT
The pro rata liability clause is designed to protect the principle of
When the principal gives the agent authority in writing, it's referred to as
What is the benefit of choosing extended term as a nonforfeiture option?
All of the following are TRUE regarding the convertibility option under a term life insurance policy EXCEPT
All of the following statements concerning dividends are true EXCEPT:
All of the following are true regarding rebates EXCEPT
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All of the following are elements of an insurance policy EXCEPT
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What is the purpose of establishing the target premium for a universal life policy?
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What documentation grants express authority to an agent?

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