Which of the following sections of the U.S. Constitution establishes the judicial branch of government?
A) Article I
B) Article II
C) Article III
D) None of the above
C
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A basic service is an example of an augmented retail strategy
Indicate whether the statement is true or false
What is the practical effect of an insurance contract being a contract of adhesion?
A) The insurer can refuse to pay claims if the insured has not complied with all policy provisions. B) The insured can assign the policy only with the insurer's consent. C) The insurer can sue the insured for failure to pay any premiums. D) The policy is interpreted in the insured's favor if the policy contains any ambiguities or uncertainties.
Rob purchased a Personal Auto Policy (PAP) with collision and other-than-collision coverage. Which of the following losses would be covered under his policy?
A) Rob wrecked his car while using it as a taxi cab. B) Thieves took Rob's radar detector from his car. C) A flash flood washed Rob's car off the road and damaged it. D) The new tires Rob had on the car were defective and wore out after 2 months.
Financing that matures in one year or less and has specific assets pledged as collateral is called ________
A) unsecured long-term financing B) unsecured short-term financing C) secured short-term financing D) secured long-term financing