17. Insurable interest can be established in all of the following ways EXCEPT: A. Love and affection B. Sympathy for a neighbour C. Blood relationships D. Economic Interest 18. A(n) ___________________ contains unequal contingencies on the potential profit or loss upon both parties in the insurance contract. A. Aleatory Contract B. Unilateral Contract C. Indemnity Contract D. Valued Contract E. Contract of Adhesion 19. A life insurance contract is a(n) _______________ because buyers must adhere to the terms of the contract already in existence with no opportunity to negotiate terms, rates, values, et. A. Aleatory Contract B. Contract of Adhesion C. Unilateral Contract D. Valued Contract E. Indemnity Contract 20. A(n) _________________ obligates on party (the insurer) in the contract. A. Aleatory Contract B. Contract of Adhesion C. Unilateral Contract D. Valued Contract E. Indemnity ContractSubmitted by: Matthew Smith-Barrett, Error! Reference source not found. 5 21. A(n) _____________________ pays a predetermined amount with no way to assess loss. A. Contract of Adhesion B. Indemnity Contract C. Aleatory Contract D. Unilateral Contract E. Valued Contract 22. A(n) ___________________ pays the amount of loss only thereby returning the insured to the same position he/she was in before the loss occurred. A. Valued Contract B. Contract of Adhesion C. Indemnity Contract D. Aleatory Contract E. Unilateral Contract 23. If fraud is discovered after the contract has been in force for _____ years, it cannot be contested and any otherwise legitimate claims cannot be denied based on fraud, misrepresentation or concealment. A. One B. Two C. Three D. Four 24. The voluntary surrendering of legal, given right is known as: A. The parol evidence rule B. Estoppel C. A waiver D. Misrepresentation 25. The __________________ prohibits making any additional verbal changes to a contract once it becomes a written document. A. Waiver B. Parol evidence rule C. Entire contract clause D. Policy beneficiary 26. _____________ is the legal enforcement of a(n) ________________ A. Expressed, WaiverSubmitted by: Matthew Smith-Barrett, Error! Reference source not found. 6 B. Entire contract clause, Policy beneficiary C. Estoppel, Parol evidence rule D. Estoppel, Waive