8 Your insured's young son has just purchased an automobile and wants you to insure it in his father's name and show himself as anoccasional driver. Which one (1) of the following steps should you take?OA) Issue the policy as requested.OB) Decline to issue the policy as the son is obviously the principal driver and registered owner.OC) Place the policy with another insurer and rate the father as the principal driver.OD) Advise the son to register the vehicle in his mother's name and rate it on her driving record. Your insured resides in a frame dwelling. A local by-law requires that if the dwelling is totally destroyed, it must be rebuilt withmasonry construction. Would special attention be required for your insured's Homeowners policy?OA) No, the Homeowners policy automatically provides for increased costs stipulated in a by-law.OB) Yes, the appropriate by-laws endorsement must be added and the amount of insurance must be increased to cover thecost of masonry construction.OC) Yes, the appropriate by-laws endorsements must be added to the policy.OD) Yes, a Replacement Cost endorsement must be added to the policy.

The situation described in the question involves a potential insurance policy for a young son who…

Your insured's young son has just purchased an automobile and wants you to insure it in his father's name and show himself as an occasional driver. Which one (1) of the following steps should you take? OA) Issue the policy as requested. OB) Decline to issue the policy as the son is obviously the principal driver and registered owner. OC) Place the policy with another insurer and rate the father as the principal driver. OD) Advise the son to register the vehicle in his mother's name and rate it on her driving record.

Your insured's young son has just purchased an automobile and wants you to insure it in his father's name and show himself as an occasional driver. Which one (1) of the following steps should you take? OA) Issue the policy as requested. OB) Decline to issue the policy as the son is obviously the principal driver and registered owner. OC) Place the policy with another insurer and rate the father as the principal driver. OD) Advise the son to register the vehicle in his mother's name and rate it on her driving record.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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