Tamina has purchased a new condominium and has requested that the Broker also includes a jewelry floater for her Grandmother's pearls on her policy. She has provided a current appraisal. The information is entered into the brokers quoting software and a quote was provided and accepted. During the electronic signature process the broker notices that the jewelry floater was not included. What should the broker do? OA) Provide the application to Tamina for electronic signature "as is" and add the floater before uploading the application to the insurance company. OB) Stop the application process, requote and provide the corrected quote to Tamina with an apology for the broker's oversight. OC) Proceed with the process and when the policy is issued tell Tamina that the Insurance Company made an error, but you would be happy to add the floater onto her new policy for an additional premium. OD) As the broker has instructed Tamina to review the application before signing, wait to see if Tamina notices that the floater is not included. Insurance for boats can vary based on a number of factors. Which of the following statements is correct? OA) Outboard motors are mounted on the interior of the boat. OB) The horsepower of the motor has no impact on the premium. OC) Some home insurance policies may include coverage for small boats. OD) Inboard motors are mounted on the outside of the boat.
Tamina has purchased a new condominium and has requested that the Broker also includes a jewelry floater for her Grandmother's pearls on her policy. She has provided a current appraisal. The information is entered into the brokers quoting software and a quote was provided and accepted. During the electronic signature process the broker notices that the jewelry floater was not included. What should the broker do? OA) Provide the application to Tamina for electronic signature "as is" and add the floater before uploading the application to the insurance company. OB) Stop the application process, requote and provide the corrected quote to Tamina with an apology for the broker's oversight. OC) Proceed with the process and when the policy is issued tell Tamina that the Insurance Company made an error, but you would be happy to add the floater onto her new policy for an additional premium. OD) As the broker has instructed Tamina to review the application before signing, wait to see if Tamina notices that the floater is not included. Insurance for boats can vary based on a number of factors. Which of the following statements is correct? OA) Outboard motors are mounted on the interior of the boat. OB) The horsepower of the motor has no impact on the premium. OC) Some home insurance policies may include coverage for small boats. OD) Inboard motors are mounted on the outside of the boat.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Pls help ASAP
Transcribed Image Text:Tamina has purchased a new condominium and has requested that the Broker also includes a jewelry floater for her
Grandmother's pearls on her policy. She has provided a current appraisal. The information is entered into the brokers
quoting software and a quote was provided and accepted. During the electronic signature process the broker notices
that the jewelry floater was not included. What should the broker do?
OA) Provide the application to Tamina for electronic signature "as is" and add the floater before uploading the
application to the insurance company.
OB) Stop the application process, requote and provide the corrected quote to Tamina with an apology for the
broker's oversight.
OC) Proceed with the process and when the policy is issued tell Tamina that the Insurance Company made an
error, but you would be happy to add the floater onto her new policy for an additional premium.
OD) As the broker has instructed Tamina to review the application before signing, wait to see if Tamina notices that
the floater is not included.
Transcribed Image Text:Insurance for boats can vary based on a number of factors. Which of the following statements is correct?
OA) Outboard motors are mounted on the interior of the boat.
OB) The horsepower of the motor has no impact on the premium.
OC) Some home insurance policies may include coverage for small boats.
OD) Inboard motors are mounted on the outside of the boat.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education