I. In an insurance contract, the insured's consideration is payment of the premium plus an agreement to abide by the conditions in the policy. II. In the case of an insurance contract, only the insurer makes a legally enforceable promise to pay a claim or provide other services to the insured.

• A. I is true and II is true
• B. I is true and II is false
• C. I is false and II is true
• D. I is false and II is false

The type of rating commonly used in commercial property insurance for large, complex structures where construction, occupancy, protection, exposure and maintenance are considered is which of the following?

• A. Judgment rating
• B. Schedule rating
• C. Class rating
• D. Unbiased rating

I. A material misrepresentation is one where the insurer would have issued the policy regardless of the misrepresentation. II. An innocent or unintentional misrepresentation generally makes a contract voidable according to a majority of court opinions.

• A. I is true and II is true
• B. I is true and II is false
• C. I is false and II is true
• D. I is false and II is false