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Introductory Business Law

The following sample questions do not appear on an actual CLEP examination. They are intended to give potential test-takers an indication of the format and difficulty level of the examination and provide content for practice and review. For more sample questions and information about the test, see the CLEP Official Study Guide.

Question 4 of 7

Two days after his daughter was born, Bill decided to take out a life insurance policy so that in the event he dies, there would be enough money to raise his daughter. This life insurance policy is an example of

  • A.

    a creditor beneficiary contract

  • B.

    a donee beneficiary contract

  • C.

    an incidental beneficiary contract

  • D.

    an assignment contract

  • E.

    a gift

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