Which of the following is true about term life insurance?

a.Premiums are higher than for universal life insurance

b.Premiums are lower than whole life insurance

c.Both a and b

d.None of the above

In which of the following cases does an insurable interest not exist?

a.A husband taking out a life insurance policy on his own life

b.A tenant obtaining property insurance on the apartment building in which he lives (not just his personal property in the apartment) against damage done by fire or flood.

c.A lawyer obtaining liability insurance to cover his own malpractice

d.A business owner insuring her inventory against damage by theft, fire or flood

Under tenancy in common:

a.the interest of a tenant who dies passes to the other co-tenants

b.the interest of a tenant who dies passes to her estate

c.the interest of a tenant who dies passes to the state

d.none of the above