All of the Following Statements About Covered Perils and Loss

question 19

Multiple Choice

All of the following statements about covered perils and loss settlement under an unendorsed Homeowners 3 policy are true EXCEPT

• A)The dwelling is covered on an all-risk basis.
• B)Personal property losses are settled on a replacement cost basis.
• C)Losses to the dwelling may be settled on an actual cash value basis.
• D)Personal property is covered on a named-perils basis.

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Definitions:

Expense Ratio

A measure of what it costs an investment company to operate a mutual fund, expressed as a percentage of the fund's average assets per annum.

Total Expense Ratio

It quantifies the total cost of fund management and operating expenses, expressed as a percentage of the fund’s total assets.

Gross Return

The total return on an investment before any deductions are made for costs or expenses.

Managed Investment Companies

Firms that invest pooled funds from clients, taking on the responsibility of investment decisions and management for those funds.