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      Question

      A person named in a life insurance contract to receive

      the benefits of the policy if other named beneficiaries are not living is referred as ________.
      A Convertible Correct Answer Incorrect Answer
      B Contingent Liability Correct Answer Incorrect Answer
      C Contractual Liability Correct Answer Incorrect Answer
      D Contingent Beneficiary Correct Answer Incorrect Answer

      Solution

      A person named in a life insurance contract to receive the benefits of the policy if other named beneficiaries are not living is referred as Contingent Beneficiary.

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