Which of the following statements concerning the scheduled personal property endorsement with agreed value loss settlement is (are) true?
I. The endorsement provides open-perils ("all-risks") coverage on the scheduled property.
II. Losses under the endorsement are settled on an actual cash value basis.
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: A
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In Vagias v. Woodmont Properties, Vagias wanted to buy a house in Montville. He told his real estate agent that he wanted to buy in that location because of the school district's reputation. The agent showed him a house in a development called "Woodmont Court at Montville." Vagias asked if the house was within the jurisdictional limits of Montville. The agent and a representative for the builder, neither of whom were familiar with the township boundaries, assured him it was within the city limits. Vagias bought the house but was unable to enroll his son in the school district because the property was outside the city limits. Vagias sued, claiming he paid a premium for the house based on the school district's reputation. The homebuilder argued that the misrepresentations were
unintentional and that Vagias did not suffer a loss in the value of his home. The court held that A. Woodmont was liable because the real estate agent showed Vagias a house that did not meet his requests. B. Woodmont was not liable because the New Jersey Consumer Fraud Act does not apply to real estate. C. Woodmont was not liable because the misrepresentation was not intentional. D. Woodmont was liable because the location of the house was the basis of the bargain and the misrepresentation was affirmative, thus meeting the requirements of the New Jersey Consumer Fraud Act.
Which of the following statements is most consistent with the integrated marketing approach?
A) A good product will sell itself. B) If left alone, consumers are inclined to purchase only inexpensive products. C) All communication to consumers must deliver a consistent message irrespective of the medium. D) In order to succeed, the main focus should be on having an efficient production process in place. E) Online marketing is less important than traditional marketing efforts.
The percentage of a decendent's estate that a spouse can claim is called a forced share
a. True b. False Indicate whether the statement is true or false
Which of the following is a true statement about a company that uses the allowance method?
A. Uncollectible accounts are not recorded until the amount becomes significant. B. Uncollectible Accounts Expense is recorded when a receivable is written off. C. The net realizable value of its accounts receivable is shown on the balance sheet. D. None of these answer choices are correct.