IIA
IIA-CFSA · Question #206
Insurance is a method of transferring, for a fee, the financing responsibility for the risk to another party. Insurance polices are legal contracts. There are four elements that constitute a legal…
The correct answer is B. Periodic review. See the full explanation below for the reasoning.
Question
Insurance is a method of transferring, for a fee, the financing responsibility for the risk to another party. Insurance polices are legal contracts. There are four elements that constitute a legal, binding contract. Which of the following is NOT out of those elements?
Options
- AAgreement
- BPeriodic review
- CCompetent parties
- DLegal purpose
How the community answered
(42 responses)- A2% (1)
- B81% (34)
- C5% (2)
- D12% (5)
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