Which of the Following Statements About Eligibility Requirements for Homeowners

question 18

Multiple Choice

Which of the following statements about eligibility requirements for homeowners insurance is (are) true?
I.A contract can be written on a twenty-unit apartment complex as long as the tenants are families.
II.Separate forms are available for renters and condominium owners.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Interest Rates

The cost of borrowing money or the return on invested capital, usually expressed as a percentage.

Life Insurance Companies

Financial institutions that provide policies to individuals, offering a sum of money to designated beneficiaries upon the policyholder's death in exchange for premiums paid during the policyholder’s lifetime.

Pension Funds

Financial programs that accumulate resources during an employee's working years and pay out retirement benefits upon reaching retirement age.

Short-term Securities

Financial instruments, such as bonds or Treasury bills, that mature or are redeemable within a short period, typically less than one year.