Frank Purchased a Building in a Run-Down Area of a City.When

question 5

Multiple Choice

Frank purchased a building in a run-down area of a city.When Frank was unable to obtain property insurance in the voluntary insurance market,an agent suggested that he contact a state pool created in the 1960s that makes property insurance available in riot-prone areas.The state pool the agent referred to is called a(n)

• A)unsatisfied judgment fund.
• B)FAIR plan.
• C)guaranty fund plan.
• D)assigned risk plan.

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Definitions:

Retentive Timer

A type of timer that keeps track of the accumulated time across power cycles or resets.

AC Time

A measure of the time that alternating current (AC) takes to complete one cycle, often referenced in electrical and electronic contexts.

Efficiency-Wage Theory

The theory suggesting firms pay wages above the equilibrium to increase worker productivity and reduce turnover.