Is a snowmobile considered to be an automobile for insurance purposes in Ontario? OA) No, it is not considered to be an automobile. OB) Yes, wherever it is being operated. OC) Only when being operated on a public highway. OD) Not when being operated by an underage driver.
Is a snowmobile considered to be an automobile for insurance purposes in Ontario? OA) No, it is not considered to be an automobile. OB) Yes, wherever it is being operated. OC) Only when being operated on a public highway. OD) Not when being operated by an underage driver.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:Is a snowmobile considered to be an automobile for insurance purposes in Ontario?
OA) No, it is not considered to be an automobile.
OB) Yes, wherever it is being operated.
OC) Only when being operated on a public highway.
OD) Not when being operated by an underage driver.

Transcribed Image Text:Why would you recommend a "Valued" policy on valuable property to an insured?
OA) It establishes, at the time the policy is issued, the amount of insurance the insurer will pay in the event the property is
totally damaged, lost or destroyed.
OB) It provides for replacement cost of the property irrespective of the amounts of the insurance.
OC) It is a special kind of policy, rarely issued and is therefore, highly "valued".
OD) It will pay for the full value of the damage, however caused.
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