LESSON 2: LEGAL CONCEPTS OF THE INSURANCE CONTRACT

Section 2.2 Review

The policyholder always retains the Right of Assignment.

	a)	True
	b)	False
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Unequal contingencies on the potential for profit or loss upon both parties in an insurance contract is a(n):

	a)	Aleatory contract.
	b)	Contract of Adhesion.
	c)	Unilateral contract.
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Agents are prohibited from negotiating insurance contract provisions.

	a)	True
	b)	False
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A ____________ contract obligates only one party (the insurer) in the contract.

	a)	Aleatory
	b)	Unilateral
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Indemnity contracts are also known as reimbursement contracts.

	a)	True
	b)	False
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