Which of the Following Is Covered Under the Building and Personal

question 31

Multiple Choice

Which of the following is covered under the building and personal property coverage form?

• A)the insured's stock and inventory when located inside the insured building
• B)vehicles owned by the insured
• C)aircraft and watercraft owned by the insured
• D)a manufacturing building owned by a key customer or key supplier of the insured.

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Definitions:

Jurisdiction

The legal authority granted to a court or governmental entity to make decisions and enforce laws.

Diversity Jurisdiction

Federal courts' authority to hear lawsuits involving parties from different states or countries, based on their diversity of citizenship.

Corporation

A firm that is authorized by statute to act as a legal entity separate and distinct from its owners (shareholders).

Federal Courts

Courts established by the federal government of a country, which have jurisdiction over matters outlined in the federal constitution.