Len Is Considering the Purchase of a Home

question 43

Multiple Choice

Len is considering the purchase of a home.As a home is a large investment,Len wants to make sure that there are no liens,easements,or other encumbrances preventing him from an unchallenged right to possess and enjoy his property.Len can protect this right through the purchase of

• A)extended coverage insurance.
• B)replacement cost insurance.
• C)personal umbrella insurance.
• D)title insurance.

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Definitions:

Market Economies

Economic systems where supply and demand from consumers drive the production, allocation, and distribution of resources.

Privatisation

The selling of state‐owned enterprises into private ownership.

State-Owned Enterprises

Organizations that are owned and operated by the government and play a role in the delivery of public services or the production of goods.

Private Ownership

Ownership of assets by individuals or corporations rather than by the state or public entities.