Which of the following statements about the aggregate policy limit in a Commercial General Liability policy is OA It is set by the insurer after a claim It is the maximum amount payable for all claims under the policy OC It is negotiated at the time of a 168 It is adjusted for inflation Recording

Which of the following statements about the aggregate policy limit in a Commercial General Liability policy is OA It is set by the insurer after a claim It is the maximum amount payable for all claims under the policy OC It is negotiated at the time of a 168 It is adjusted for inflation Recording

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Q: Upon successful completion of the examination you may qualify for registration as an insurance…

A: Note: As per bartleby guidelines in case multiple questions are asked by the students then the…

Q: 5 Credit reports always include which of the following information A) Borrower's former spouse's…

A: The question is asking about the type of information that is always included in credit reports.…

Q: Your insured lives in an apartment but takes a temporary position in another city and must store…

A: The correct answer is:OB) insurer cannot cancel the policy mid-term and must remain at risk until…

Q: By the use of relevant examples, differentiate between the following:a. Hazard based risk and…

A: a. Risk that can be assessed and which the risk of uncertainty are the two major categories that…

Q: If a buyer is offered the terms of sale of "3/10, net 30" this means that the buyer can receive a 10…

A: This statement is FALSE.

Q: The XYZ Bank sets up a temporary location after the bank bolding aroyed by a teftate the expenses OA…

A: The objective of the question is to determine the type of loss that the XYZ Bank incurs when it sets…

Q: All of the following are sources of information to an insurance company pertaining to the…

A: Government tax records

Q: 5 Credit reports always include which of the following information A) Borrower's former spouse's…

A: The objective of the question is to identify the type of information that is always included in…

Q: A real estate investor based in Corona Del Mar, California borrowed $43,200,000 from Union Bank…

A: So, the correct answer is (d) $216,000.Explanation:To calculate the monthly loan payment for the…

Q: The contract for a home purchase typically includes: 1. The negotiated price II. The completion of a…

A: When entering into the significant endeavor of purchasing a home, fundamental components typically…

Q: One of three tenants in your insured's rented triplex, sets fire to his apartment, is charged with…

A: Cancellation of Insurance Policy: Cancellation of an insurance policy refers to the termination or…

Q: The two primary goals of the claims function are keeping the insurer’s promise and supporting the…

A: The insurance is take so as to minimize the risk and shift the risk.

Q: Which of the following is not a true statement: A. In a risked based agreement, the provider…

A: A risk based agreement is a agreement that help to get financially help beyond the traditional…

Q: 1. X borrows money from a bank memorialized by a written loan agreement. Z orally promises the…

A: Collateral promise refers to a scenario in which the guarantor agrees to pay the debts of a…

Q: 24 of 90 Brok Com state Binders may Only writters All binders e Binders only

A: Insurances are agreements or contracts also popularly called policy, under which the insurnace…

Q: Under a Personal Auto pollicy, a temporary substitute automobile is an auto that iss OA fomnished…

A: The objective of the question is to identify the correct definition of a 'temporary substitute…

Q: Explain correct and incorrect option with explanation please.

A: Option a: This option is incorrect because prepaid expenses are those that are not yet incurred but…

Q: PLS HELP ASAP

A: Under the umbrella of a Homeowners policy, "Fine Arts Coverage" is an insurance policy designed to…

Q: Describe the company's objectives for writing a default letter for student loan payement.

A: A default letter is a formal written communication made by a lender or creditor to a borrower who…

Q: If an insurer wishes to cancel a health insurance policy, it can do so: OA B. O C O D. in Florida as…

A: The question is asking about the ways an insurer can cancel a health insurance policy. This involves…

Q: One More Question. PT. Jaya Service Indonesia, a company engaged in car servicing located in Radio…

A: Step 1: Journalize journal entries for February transactionsStep 2:Make an Income Statement and…

Q: A producer must deliver an Outline of Coverage to a prospective insured who is eligible for Medicare…

A: A person contacts insurance company in order to reduce the uncertainty either over his assets or his…

Q: Pls help ASAP

A: An insurance contract is a simple legal agreement between a person or business and an insurance…

Q: A shopping center investor bought a 36,000 square foot shopping center in Calabasas, California with…

A: Given information:Shopping center size: 36,000 square feetLocation: Calabasas, CaliforniaMortgage…

Q: Which one (1) of the following statements is true about coverage for loss or damage caused by an…

A: Insurance is a type of contract in which the insurer re-imburses the poilyc holders of the financial…

Q: Which of the following would be included in probate? POD Account Totten Trust. Retirement Plan…

A: Probate refers to a legal procedure that mainly deals with the distribution of property, and assets…

Q: 14 Identify the correct statement about OMVIC Investigators. Nk5HZ0drRVpzcTRVVmozR2hVL1Zvdz09 → a. O…

A: Note: As per bartleby guidelines in case multiple questions are asked by the students then the…

Q: Which one (1) of the following statements about "Section 6 - Direct Compensation-Property Damage…

A: Automobile insurance policies are agreements or contracts between individuals and insurance…

Q: Weismann Company issued 18-year bonds a year ago at a coupon rate of 11 percent. The bonds make…

A: The current bond price is the amount someone is willing to pay for a bond on the secondary market at…

Q: Explain Tolerable exception rate?

A: Sampling for replacement When replace sampling is utilised, a population attribute is sampled…

Q: In order to prevent an insured from recovering more than his actual loss, insurance policies contain…

A: A deductible clause is an insurance policy which is defined as a part of agreement which the…

Q: If a lessor is a merchant who is holding the goods for the buyer to pick up, the risk of loss passes…

A: When goods are leased, the risk of loss can be a complex issue. The Uniform Commercial Code (UCC)…

Q: which of the following offers lines of insurance to against risk a. insurance rating system b.…

A: The objective of the question is to identify which among the given options offers lines of insurance…

Q: Under a typica OA) Fees of OB) Nursing ✓ Experim OD) Ambula

A: Group insurance programs provide coverage to a group of individuals, often employees of a company,…

Q: 1.) which of the following statements is incorrect about life settlement and variables A) the life…

A: The objective of the question is to identify the incorrect statement about life settlement and its…

Q: Which of the following are checks without sufficient fund, as contemplated by BP Blg. 22? (I) A…

A: When a check is submitted for encashment and the bank is unable to honor the payment, this is…

Q: insured voluntarily gives up the life insurance contract, the policy is A) Foreclosed B) Lapsed…

A: Ans: there is a minimum duration after which an insured can voluntarily give up his life insurance…

Q: 11 which of the following types of insurance best satisfies the need for permanent insurance…

A: The objective of the question is to identify the type of insurance that best satisfies the need for…

Q: Liabilities decrease and cash decreases Liabilities increase and the Income Statement…

A: Improve deals by selling and tolerating gift vouchers In spite of the fact that gift vouchers are…

Question

Which of the following statements about the aggregate policy limit in a Commercial General Liability policy is
OA
It is set by the insurer after a claim
It is the maximum amount payable for all claims under the policy
OC It is negotiated at the time of a 168
It is adjusted for inflation
Recording

AI-Generated Solution

AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.

Unlock instant AI solutions

Tap the button
to generate a solution

Click the button to generate
a solution

SEE SOLUTION

Similar questions

68. if a policy loan is not repaid A Nonforfeiture is activated Interest on the loan accrues The incondensable period extended The policy lapses automatically
Imagine the following scenario. At home, your friend Mary packed an orange into your bag for lunch. On her way to school, she decided to go into a convenience store to buy some stationeries. At the checkout counter, she opened her bag to take her wallet to pay for the purchase. The cashier saw the orange in her bag, which happened to be the same kind of orange sold at the store. What would the cashier be thinking? Will he conclude that she has stolen the orange from his store? The convenient store does not have any CCTV, and she were the only customer at this moment. So how could she prove that she did not steal the orange? Based on what you have learned from the past 3 lessons regarding blockchain, suggest a way that you can help Mary to prove that she did not steal the orange. You are free to make certain assumptions. ▪ Introduce blockchain to your friend Mary in your own words. How can blockchain be used to solve the problem? What are the benefits offered by the blockchain as…
What happens when an employee records a fictitious refund of goods at his cash register? a. A disbursement from the register is unrecorded. b. The victim company’s inventory is unreported, and a disbursement from the register is overstated c. The victim company’s inventory is overstated, and a disbursement from the register is recorded. d. The victim company’s inventory is understated.
In a subprime loan, interest rates are: equal to prime loan rates unrelated to a borrower's credit score higher than prime loan rates lower than prime loan rates
A buyer generally prefers an asset sale to get better depreciation deductions post sale. True False
What is the main reason lenders pay borrowers' property taxes through a pre-paid escrow account? It prevents a tax lien from being applied to the home. The tax lien would be senior to the mortgage lien. It prevents the borrower from refinancing with another lender because they would lose all of their escrow funds. It allows the lender to earn interest on the pre- paid tax money as itsits in the account. It allows the lender to take advantage of corporate tax deductions.
why and how can guaranteed issue (cannot be denied insurance due to pre-existing conditions)
PLS HELP ASAP
52 if the insured consults during the first policy year the insurer will a. Pay the face amount but not double b. Pay 10% of the policy face value c. Return all premiums and not pay the claim d. Return all premiums less company expenses
An insurance company notifics an insured that $50 of the insured's physicians chaige is above the usual, customary, and reasonable limits covered situation, the excess amount would be ⓇA applied to the deductible ⓇB OC. OD. paid at the 80/20 coinsurance rate disallowed as a covered charge charged back to the physician
A private offering is a sale of securities in which: X investors may resell their stock within 3 months of acquisition. the security can only be sold within the home state of the offeror. the security is exempt from registration. the issuer provides less disclosures in return to selling less stock to fewer investors.
PLS HELP ASAP