Which of the Following Statements Is (Are)true with Regard to the ISO

question 42

Multiple Choice

Which of the following statements is (are) true with regard to the ISO commercial crime coverage forms?
I.The discovery version only covers losses which occur during the policy period.
II.The loss-sustained version covers losses which occur during the policy period and the loss is discovered during the policy period or within one year after the policy expires.

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

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Definitions:

Compliance

The act of following guidelines, regulations, or laws set forth by governing bodies or agreements.

Bargain Collectively

The process by which employers and groups of employees negotiate labor contracts concerning wages, hours, benefits, and other working conditions.

Federal Law

Laws passed by a country's federal government.

Union Members

Individuals who belong to a labor union, an organization that represents workers' interests and collective bargaining rights.