Joe has an HO-3 policy. He also has an unattached converted garage that he has turned into an apartment, and he rents it to a full-time college student. The apartment is destroyed by fire
What will happen with the claim according to the HO-3 contract?
A) Since fire is an excluded peril, nothing will be paid.
B) The peril of fire is not covered when it damages unattached structures.
C) There will be no payment because a rented other structure is excluded from coverage.
D) Because it was unattached, that type of property was not covered by the HO-3.
C
You might also like to view...
A company purchased a van at a cost of $42,000 and expects it can be sold for $6,000 after 120,000 miles of service. Assuming the units-of-production method is used and the van is driven for 24,000 miles during the first year, the depreciation at the end of the first year would be
a. $4,200. b. $1,200. c. $7,200. d. $12,000.
Answer the following statements true (T) or false (F)
1. The Hawthorne studies have been criticized for poor design and a lack of empirical data to support the conclusions, so the findings cannot be applied to modern management. 2. Abraham Maslow and Douglas McGregor were theorists in the human relations movement. 3. Abraham Maslow would say that some human needs must be satisfied before others. 4. Jaclyn is a manager who keeps a tight rein on her staff since she thinks they would not work without supervision. She doubts their commitment to the company and even to their own development. She is a Theory Y manager.
A duty imposed on the agent by the common law generally includes the duty:
A. to compensate. B. to reimburse. C. of indemnification. D. of loyalty.
Suppose the standard for a given cost during a period was $80,000. The actual cost for the period was $72,000. Under what circumstances would you consider the variance from budget to be a positive performance indication?
A) The cost is fixed, and actual production was 90 percent of the standard level of budgeted production. B) The cost is variable, and the standard cost noted above is the cost at a production level lower than the actual production level. C) The cost is variable, and actual production was 90 percent of the standard level of production. D) The cost is variable, and actual production was 75 percent of the standard level of production.