The Basic Principles of Property and Liability Insurance Pertain To

question 53

Multiple Choice

The basic principles of property and liability insurance pertain to:

• A)types of exposure
• B)the principles of indemnity
• C)coinsurance
• D)all of the above

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Definitions:

Political Risk

Possibility of the expropriation of assets, changes in tax policy, restrictions on the exchange of foreign currency for domestic currency, or other changes in the business climate of a country.

Expropriation

The act of a government taking privately owned property, usually for public use or in the public interest, potentially with compensation.

Foreign Exchange Transactions

Trades between two parties to exchange one currency for another, determining the relative value of different currencies.

Largest Stock Market

Typically refers to the New York Stock Exchange (NYSE) or the NASDAQ, both of which are among the largest and most influential stock markets globally.