Which of the following statements is CORRECT about perils in property insurance policies?a. a property insurance policy must contain a list of all covered perils.b. an HO-00-02 (HO-2) Form provides coverage for more perils than a HO-00-03 (HO-3) Formc. a peril is defined as the cause of lossd. a peril increases the chance of loss

In property insurance, a peril is indeed defined as the specific cause of loss or damage to…

Answered: Which of the following statements is…

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

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Which of the following statements BEST describes the purpose of a Deability income policy? A It is used to pay for hospital, medical, and surgical expenses if a senous disability occurs. It is designed to supplement Medicare Part A benefits It is used to pay for an insured's normal living expenses if the insured becomes disabled It is designed to supplement Workers' Compensation benefits B D.
In most life insurance applications, the largest amount of information requested is data which A) Identifies the applicant B) Describes the type of insurance applied for Relates to the insurability of the applicant D) Describes the desired benefits and mode of payment
Risk retention involves... /-చ్ ఆరి Select one: a. assuming the cost of an uninsurable risk b. the possibility of loss or gain C. self-insuring in the event of incurring uninsurable risk d. stopping the activity that involves risk of loss e. buying insurance
Which of the following statements BEST describes the purpose of a teability Income policy? A It is used to pay for hospital, medical, and surgical expenses if a senous disability occurs It is designed to supplement Medicare Part A benefits It is used to pay for an insured's normal living expenses if the insured becomes disabled It is designed to supplement Workers' Compensation benefits B C OD.
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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.
Scaffold Equipment manufactures and sells scaffolds and ladders that are used by construction firms. The products are sold directly to independent retailers in the United States. The company's risk manager knows that the company could be sued if a scaffold or ladder is defective, and someone is injured. Because the cost of products liability insurance has increased, the risk manager is considering other techniques to treat the company's loss exposures.a. Describe the steps in the risk management process.b. For each of the following risk management techniques, describe a specific action using that technique that may be helpful in dealing with the company's products liability exposure.1. Avoidance2. Loss prevention3. Loss reduction4. Noninsurance transfers
3. Which of the following coverage options would protect you if someone's insurance didn't cover enough of the damages? A. Uninsured motorist B. Property Damage Liability C. Comprehensive D. Bodilv Injury Liability

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