Which one (1) of the following statements best describes "The Facility Association"? OA) It is a government fund used to pay claims for injury or damage caused by uninsured drivers. OB) It is run by the provincial government to provide insurance on all hard to place risks. OC) It is a pool of insurers to provide insurance on all substandard property and automobile risks. OD) It is a pooling arrangement subscribed to by all automobile insurers who share the experience on risks writte and is serviced by a few insurers called servicing carriers.
Which one (1) of the following statements best describes "The Facility Association"? OA) It is a government fund used to pay claims for injury or damage caused by uninsured drivers. OB) It is run by the provincial government to provide insurance on all hard to place risks. OC) It is a pool of insurers to provide insurance on all substandard property and automobile risks. OD) It is a pooling arrangement subscribed to by all automobile insurers who share the experience on risks writte and is serviced by a few insurers called servicing carriers.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Which one (1) of the following statements best describes "The Facility Association"?
OA) It is a government fund used to pay claims for injury or damage caused by uninsured drivers.
OB) It is run by the provincial government to provide insurance on all hard to place risks.
OC) It is a pool of insurers to provide insurance on all substandard property and automobile risks.
OD) It is a pooling arrangement subscribed to by all automobile insurers who share the experience on risks written
and is serviced by a few insurers called servicing carriers.
Transcribed Image Text:When determining the actual cash value of a building, which one (1) of the following factors is NOT taken into
consideration?
OA) The resale value of the building.
OB) The ownership of the building.
OC) The normal life expectancy of the building.
OD) The condition of the building immediately before the damage occurred.
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