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Which of the Following Statements About Ocean Marine Insurance Coverages

question 19

Multiple Choice

Which of the following statements about ocean marine insurance coverages is (are) true?
I.Hull insurance limits coverage to the breakdown of a ship's machinery and equipment.
II.Protection and indemnity insurance provides liability insurance to the ship owner for bodily injury and property damage to third parties.


Definitions:

Invested Assets

Assets that have been allocated or invested in various forms such as stocks, bonds, or real estate, aiming for a financial return.

Profit Margin Factor

A measure of a company's earnings (or profits) relative to its revenue, showing the percentage of each dollar of sales that results in profit.

Return On Investment

A performance measure used to evaluate the efficiency or profitability of an investment or compare the efficiency of multiple investments.

Income From Operations

The earnings generated from a company's regular core business operations, excluding deductions of interest and taxes.

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