Which of the Following Statements About the Uninsured Motorists Coverage

question 38

Multiple Choice

Which of the following statements about the uninsured motorists coverage of the PAP is true?

• A)The coverage usually applies only to property damage.
• B)The coverage applies only if the uninsured motorist is legally liable.
• C)Unless higher amounts are purchased,the maximum benefit is normally limited to $1,000.
• D)A covered person's only recourse is to sue the insurer if there is a disagreement over the amount of damages.

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Definitions:

Pre-tax Net Annual Savings

The amount of money saved annually before taxes, often resulting from implementing cost-saving measures or efficiency improvements.

Bank Loan

A sum of money lent at interest by a bank to a borrower, usually on collateral security, for a certain period.

Collection Float

The time period between when a check is deposited and when the funds are made available.

Chequing Account

A bank account from which money can be withdrawn without notice, typically used for day-to-day spending and bill payments.