Which of the following is (are) covered under a claims-made policy?
I. Claims arising out of occurrences which take place during the policy period, regardless of when the claim is made
II. Claims first reported during the policy period, provided the event occurred after a retroactive date stated in the policy
A) I only
B) II only
C) both I and II
D) neither I nor II
Answer: B
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Answer the following statement true (T) or false (F)
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A) 0 B) 1 C) 2 D) 3 E) 4
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A. negotiable. B. nonnegotiable, because one month is not a reasonable time. C. nonnegotiable, because there is no option to pay early. D. nonnegotiable, because the maturity date cannot be determined from the face of the instrument.