Author Question: Which of the following statements about an insurable interest in life insurance is (are) true? I. It ... (Read 18 times)

roselinechinyere27m · **on:** Jul 11, 2018

Which of the following statements about an insurable interest in life insurance is (are) true? I. It is required of any person named as beneficiary. II. It may result from a pecuniary (financial) interest.

A) I only
B) II only
C) both I and II
D) neither I nor II

Question 2

A total loss under a valued policy is settled on the basis of the

A) market value of the loss.
B) actual cash value of the loss.
C) replacement value of the loss.
D) amount of insurance covering the loss.