In an attempt to locate further potential coverage needs, a producer homeowners a protective client who owns a home covered by the HO-3 policy. From which of the following does the client already have coverage?   The stereo system installed in the automobile The ultralight airplane stored in his garage His business property is kept in his office that he rents The rental value of the room in his home that he rents

Q: Your insured's automobile is damaged by another automobile owned and driven by his brother. The…

A: An Uninsured Automobile is a term used in insurance to refer to a motor vehicle (an automobile) that…

Q: which option is resulting in a moral risk (dishonesty)? Policyholder’s history of prior losses in…

A: Moral hazard is a situation in which a person involves in some risky event by knowing that his/her…

Q: Suppose that there are equal numbers of good and bad used cars in the market. Good used cars are…

A: The market for used cars, also known as the market for lemons is an example of a market with…

Q: You are the wage earner in a "typical family" with a $58,000 gross annual income. Use the easy…

A: The protection from financial loss resulting from certain circumstances is referred to as insurance.…

Q: None

A: Although they are often used as a kind of judicial remedy in civil cases, money damages are not…

Q: A way to help overcome adverse selection is to ...    require a deductible be paid before benefits…

A: Adverse selection refers to the situation when one of the parties has relatively more information…

Q: explain the difference between moral hazard and adverse selection using the example of health…

A: Market Failure refers to economics that can occur due to moral hazard or adverse selection. In any…

Q: Participate in a discussion regarding private information as shown in Section 12.3 in the textbook.…

A: Participate in a discussion regarding private information as shown in Section 12.3 in the textbook.…

Q: The effects (cost and benefits) of the police on consumers

A: The effect of price floor and price ceiling are different on consumers. However, both are…

Q: employee who owns an individual Disability Income policy is injured in an automobile accident and…

A: The term disability income (DI) insurance alludes to an insurance policy that turns out revenue to…

Q: Which of the following is an example of moral hazard? Group of answer choices High-quality products…

A: A moral hazard is a care to be done by others to protect us. Moral hazard a wealth-creating…

Q: The difference between the actuarily fair price for insurance and the price a risk-averse individual…

A: To Find: Difference between the actual fair price for insurance and, the price a risk- averse…

Q: Which of the following is a method used by a private seller to help reduce imperfect information…

A: Answer: Imperfect information refers to the situation where either buyer or seller has less…

Q: What are some ways a seller of labor (that is, someone looking for a job) might reassure a possible…

A: A labor market is a place where the people who are willing to work at the prevailing market wage…

Q: Which of the following situation does not apply to claims presented under uninsured motorist…

A: Uninsured Motorist Coverage (UM) is a type of insurance that protects you if you are hit by an…

Q: Suppose there are only two kind of cars in the market for used cars: lemons and good cars. A lemon…

A: In the market for used cars, a well-known problem called "the market for lemons" can arise due to…

Q: When is a mortgage clause used in connection with insurance on a property? The insured lends money…

A: Insurance refers to a type of financial product intended to shield people and businesses from the…

Q: What would be the highest price (premium) that she would be willing to pay for an insurance policy…

A: To find the highest price (premium) that Priyanka would be willing to pay for an insurance policy…

Q: How do you think the problem of moral hazard might have affected the safety of sports such as…

A: Asymmetric information refers to how the borrowers have better information about their ability to…

Q: Moral hazard is a problem that arises when which situation occurs? There is a risk of a "lemon."…

A: A Moral Hazard is a problem of behaving less carefully at the cost of giving the burden of risk to…

Q: What elements of the employee dishonesty exposure make it difficult to estimate the size of the loss…

A: The loss is the difference between the economic cost and economic revenue. Economic revenue is the…

Q: how does the control environment relate to audit planning? Explain clearly, concisely and briefly.

A: The control environment is the foundation of a good system of control. The control environment is…

Q: The winning bid for a house at a bank auction was $10.  But the house was not in good condition.…

A: Economics refers to the social science that studies the production, distribution, and consumption of…

Q: Who has power when it comes to your housing issue in your community? Note that power is likely held…

A: In any community, the power to influence housing issues is typically distributed among several key…

Q: 20-2 A collogue tells you that he can get a business loan from the bank, but he rates seem very high…

A: Banks are a common source for loans obtained by businesses in order to finance capital investments…

Q: Your insured asks if a cemetery plot he/she has just acquired is covered for Personal Liability…

A: Insurance is a legally binding game plan where an individual or association (the policyholder) pays…

Q: Which part of a special form or open perils policy should be considered or consulted to determine…

A: Economics as a subject is used to study and plan the allocation of scarce resources among humans…