N is a student pilot with a large life insurance policy. Which of these features would limit the insurer's obligation in the event N was killed while flying as a student pilot?

a. misrepresentation

b. exclusion

c. collateral assignment

d. concealment

b. exclusion

Explanation:

Exclusion is a provision in life insurance policies that excludes coverage for some type risk. Insurance companies utilize this provision in removing coverage for risk they are unwilling to insure. N flying as a student pilot is a risk and his insurance may not cover it, other examples of risk insurers may not be willing to cover are extreme sports such as biking.