Martin would like to insure valuable personal property limited in coverage by his homeowners policy. Martin has two options
He can purchase the coverage through a separate personal articles floater policy or he can add an endorsement to his homeowners policy. The endorsement is called the
A) extended coverage endorsement.
B) scheduled personal property endorsement.
C) personal injury endorsement.
D) replacement cost endorsement.
Answer: B
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What level are inputs for estimating fair values are based on inputs that are readily available via prices for identical assets or liabilities in actively traded markets such as securities exchanges?
a. Level 1. b. Level 2. c. Level 3. d. None of these.
Convergent validity is established when the measured items are conceptually consistent with a
construct definition. Indicate whether the statement is true or false
Which of the following strategies would a company most likely use to increase customer satisfaction?
A) decreasing the variety of offered services B) divesting C) lowering prices D) "firing" unprofitable customers E) limiting customer experiences with a brand
Ralph sold a motel to Steve by stating that he had paid $250,000 for it and that his net average annual profit from the business has been $40,000. In reality he paid $100,000 for the motel and has earned a net average annual profit of only $30,000. Steve made no attempt to verify the statements until after the transaction was completed. In this case:
A) Ralph has committed fraudulent misrepresentation and the contract is voidable at Steve's option. B) Steve is bound by the contract, because he failed to verify the statements which were made to him. C) the contract is not voidable, but Steve may sue for damages. D) the contract is automatically void.