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    Question

    What does the term "insured" refer to in insurance? 

    A The policy document holder Correct Answer Incorrect Answer
    B The person or entity buying the policy Correct Answer Incorrect Answer
    C The intermediary selling the policy Correct Answer Incorrect Answer
    D The reinsurer involved in the contract Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Explanation: The correct answer is B. The person or entity buying the policy. The insured is the individual or entity that purchases the insurance policy.

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