An "Insurable Interest" Can Best Be Described As

Multiple Choice

An "insurable interest" can best be described as:

A) the insured having paid the premiums of an insurance policy, as called for in the policy.
B) a financial interest in the real or personal property being insured, in the sense that if the insured did not acquire insurance, he or she would suffer a monetary loss resulting from damage to or destruction of the property.
C) the item in question being fully-covered under a valid insurance policy.
D) the item is question being fully capable of identification at the time of a loss, even if it could not have been identified at the time the policyholder acquired the insurance policy.
E) the item of interest being owned by a person different from the person who takes out the insurance.