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LOMA 281 Module 3 Lesson 3 Questions & Answers 100% Correct!! $11.99
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LOMA 281 Module 3 Lesson 3 Questions & Answers 100% Correct!!
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  • LOMA 281 Module 3

property - ANSWER A bundle of rights a person has with respect to something. real property - ANSWER Land and whatever is growing on or attached to the land. rights of a life policyowner - ANSWER name the beneficiary, change the beneficiary, transfer ownership to someone else

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  • August 30, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • loma 281 module 3 lesson 3 questions answers 100
  • loma 281 module 3 stuvia 2024
  • property answer a bundle of rights a person has
  • real property answer land and whatever is growin

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LOMA 281 Module 3 Lesson 3
Questions & Answers 100%
Correct!!
property - ANSWER A bundle of rights a person has with respect to something.



real property - ANSWER Land and whatever is growing on or attached to the land.



rights of a life policyowner - ANSWER name the beneficiary, change the beneficiary, transfer
ownership to someone else



class designation - ANSWER A beneficiary designation that identifies a certain group of persons,
rather than naming each person.



primary beneficiaries - ANSWER The party designated to receive the policy proceeds following the
death of the insured. Also known as first beneficiary.



personal property - ANSWER all property other than real property



intangible property - ANSWER Property that represents ownership of a legal right, such as a
contractual right (life insurance).



ownership of property - ANSWER The sum of all the legal rights that exist in a piece of property.




contingent beneficiary - ANSWER The party named to receive the policy proceeds if the primary
beneficiary should die before the insured. Sometimes referred to as a secondary beneficiary or
successor beneficiary.

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