During the application process, a statement made by an applicant that becomes part of the contract is considered to be a(n):

A statement made by an applicant that becomes part of the contract is considered a warranty. In insurance contracts, warranties are specific guarantees or promises made by the insured, which must be true and accurate. If a warranty is found to be untrue, it can lead to the voiding of the contract or denial of a claim.

This differs from representations, which are statements that the applicant believes to be true but are not guaranteed. Representations are subject to a standard of materiality; they only need to be substantially true to maintain the validity of the contract.

Waiver refers to the relinquishment of a known right, often expressed through actions or conduct, and is not focused on the truthfulness of statements made during the application process.

Exclusions pertain to specific conditions or circumstances that are not covered by the insurance policy.

Thus, when an applicant provides a statement that is considered a warranty, it signifies a binding promise regarding certain conditionals or facts that, if altered, could impact the insurance contract's enforcement.