Cấu trúc & Điều khoản hợp đồngCâu 517 / 531
An applicant says nothing about a fire that destroyed an earlier building at the same location, and the insurer does not ask about it. This is best described as:
a.Concealment of a material fact
b.A warranty the insured breached
c.A misrepresentation of a fact
d.An immaterial omission of history
Giải thích
Concealment is silence about a material fact the applicant knew and had a duty to disclose; a misrepresentation, by contrast, is an untrue statement actually made. Loss history at the very same location is plainly material, since it would change how an underwriter rates or accepts the risk, so calling it immaterial fails. A warranty is a promise written into the contract, not information withheld before it issues.
Luyện miễn phí toàn bộ 531 câu hỏi — không cần đăng ký.
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Câu hỏi liên quan cùng chủ đề
- An agent holding binding authority tells an applicant by phone that coverage is in force, and the building burns before any paperwork is issued. The likely outcome is that:
- Mid-term, an insurer broadens the coverage of its standard form without charging more for it. Under the liberalization clause the change:
- The entire contract provision in a property and casualty policy means that:
- Immediately after a covered fire, which action is a duty the policy places on the insured?
- In the claim process, a proof of loss is best described as:
- The insured and the insurer agree the fire loss is covered but cannot agree on what it is worth. Under the appraisal condition:
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