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Exam Fx Property And Casualty Questions And Answers
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Question Number 505
When the initial premium accompanies the application, who makes the offer?A. BeneficiaryB. InsuredC. InsurerD. Agent
InsuredThis isn't the best answer, but the best answer isn't here. What is that? The policy owner/applicant. The insured is the next best answer. Think these things through like this. It would have been easy for me to put applicant/owner, or owner/insured as one of the answers but you won't think as much as on this one. The state does the same thing in their exams.The person making the application is known as the "insured" even though the contract/policy hasn't been completed yet. The box on the form says "Insured" and that's where their name goes.
✔ Correct Answer:
InsuredThis isn't the best answer, but the best answer isn't here. What is that? The policy owner/applicant. The insured is the next best answer. Think these things through like this. It would have been easy for me to put applicant/owner, or owner/insured as one of the answers but you won't think as much as on this one. The state does the same thing in their exams.The person making the application is known as the "insured" even though the contract/policy hasn't been completed yet. The box on the form says "Insured" and that's where their name goes.
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