Sarah purchased a Personal Auto Policy with liability limits of 50/100/25. Sarah ran a stop sign and hit a van. The van sustained $15,000 in damages
The following bodily injuries were suffered by passengers in the van: Passenger #1, $15,000; Passenger #2, $60,000; and Passenger #3, $10,000. Sarah sustained $5,000 in medical expenses, and Sarah's car sustained $10,000 in damages. How much will Sarah's insurer pay under Part A: Liability Coverage?
A) $90,000
B) $100,000
C) $115,000
D) $125,000
Answer: A
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Profit rate tends to decrease over the life of the retained customer due to increased purchases, referrals, price premiums, and increased operating costs to service
Indicate whether the statement is true or false
Smith Corporation has a $6,000 favorable flexible budget variance for January. Which of the following statements is true, if January's flexible budget net operating income was $100,000?
A) Smith's static budget must have showed a net operating income of $106,000. B) Smith's static budget must have showed a net operating income of $94,000. C) Smith's actual net operating income must have been $106,000. D) Smith's actual net operating income must have been $94,000.
A voucher system is a set of procedures and approvals designed to control cash disbursements and the acceptance of obligations.
Answer the following statement true (T) or false (F)
Prices are usually higher in convenience stores than in supermarkets because convenience stores offer:
A. more specialty goods B. a wider variety of products C. a higher level of customer services D. better location, longer hours, and faster service E. higher quality goods