All of the Following Statements About Conditions Under a Homeowners

question 11

Multiple Choice

All of the following statements about conditions under a homeowners policy are true EXCEPT

• A)If an insurer broadens coverage without an additional premium during the policy period,the broadened coverage applies immediately to the present policy.
• B)A waiver or change in any policy provision must be approved in writing by the insurer to be valid.
• C)The insurer must give written consent for an assignment of the policy to be valid.
• D)If the named insured dies,coverage automatically ceases with respect to any property of the deceased.

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Definitions:

Universal

A term that implies applicability or relevance to all cases or situations without exception.

Cross-Cultural

Pertaining to or comparing two or more different cultures, often emphasizing the interaction and comparative study of their differences and similarities.

Cross-Border Mergers

Transactions where companies from different countries combine their operations or assets, often to expand market reach or consolidate industry positions.

Direct Foreign Investment

A financial commitment by an individual or company from one country into business ventures or assets in another country, whether by setting up business activities or purchasing business assets.