Pls help ASAP Statutory Conditions in an insurance policy are established for the protection of both the person insured and the insurer, Whichone (1) of the following is NOT the subject of a Statutory Condition?OA) Knowingly making false statements.OB) Details about when and how to make a claim under the policy.CC) Method by which the policy may be terminated by either the insured or the insurer.S Time limit in which premium must be paid. 80 of 90An insurance broker whose registration is "restricted to ActingUnder Supervision" may NOT perform which one (1) of thefollowing activities?Sign letters to members of the public recommending insurance coverage.Solicit insurance except in the presence of their supervisor.Deposit insurance premiums in their own trust bank account.Collect premiums on behalf of the insurance broker by whom they are employed.

Answered: Statutory Conditions in one (1) of the…

Statutory Conditions in one (1) of the following OA) Knowingly makin OB) Details about wh OC) Method by which Time limit in whic

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Pls help ASAP

Statutory Conditions in an insurance policy are established for the protection of both the person insured and the insurer, Which
one (1) of the following is NOT the subject of a Statutory Condition?
OA) Knowingly making false statements.
OB) Details about when and how to make a claim under the policy.
CC) Method by which the policy may be terminated by either the insured or the insurer.
S Time limit in which premium must be paid.

80 of 90
An insurance broker whose registration is "restricted to Acting
Under Supervision" may NOT perform which one (1) of the
following activities?
Sign letters to members of the public recommending insurance coverage.
Solicit insurance except in the presence of their supervisor.
Deposit insurance premiums in their own trust bank account.
Collect premiums on behalf of the insurance broker by whom they are employed.

Expert Solution

Step 1: Define key term

Statutory Conditions: Legally mandated provisions in insurance policies that set out rights and responsibilities for both the insured and the insurer to ensure fair and standardized insurance practices.

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