When You Have an Auto Accident That Is Your Fault,your

question 63

Multiple Choice

When you have an auto accident that is your fault,your PAP's Liability coverage will pay for all of the following except:

• A)Bodily injuries of your family members riding with you
• B)Bodily injuries of non family members who are passengers in your car at the time of the accident
• C)Bodily injuries of your best friend who is a passenger in your car at the time of the accident (moderate)
• D)The cost to repair or replace property belonging to others that you damaged in the accident

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Definitions:

Strike Price

The set price at which an option contract can be bought or sold when it is exercised.

Call Option

A financial contract that gives the holder the right, but not the obligation, to buy a specified amount of an asset at a predetermined price within a specific time frame.

Value Increase

An appreciation in the worth or market value of an asset over time.

Time To Expiration

The duration remaining until the expiration date of a financial contract, most commonly used in the context of options or other derivative instruments.