All of the Following Are General Exclusions Under Section I

question 1

Multiple Choice

All of the following are general exclusions under Section I of the Homeowners 3 policy EXCEPT

• A)losses due to earthquake.
• B)losses due to the failure of the insured to use all reasonable means to save and preserve property after the time of a loss.
• C)losses resulting from a power failure caused by an insured peril at the residence premises.
• D)losses due to radiation from a nuclear power plant.

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Definitions:

Passive Income

Income earned from rental property, limited partnerships, or other enterprises in which a person is not actively involved.

Foreign Tax Credit

A nonrefundable tax credit for income taxes paid to a foreign government as a result of foreign income tax withholdings.

Taxable Income

The portion of an individual's or a corporation's income that is subject to taxation by the government after deductions and exemptions.

Foreign Income Taxes

Taxes levied by a foreign country on income earned within its jurisdiction, which can sometimes be credited against domestic taxes in the taxpayer's home country.