Question 3007 of 287 · Texas Life, Accident and Health Agent Exam
Compared to a conditional receipt, a binding receipt
Exactly one answer is correct.
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Correct answer to question 3007
- C: provides temporary coverage from the time of the application, unless the insurer declines the risk
Explanation
A binding receipt provides immediate coverage under stated limits, often a short period of time. A conditional receipt makes coverage depend on insurability.
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