Which of the Following Statements Is (Are)true Regarding Cancellation of Homeowners

question 49

Multiple Choice

Which of the following statements is (are) true regarding cancellation of Homeowners 3 policy?
I.Under no circumstances may the policy be cancelled before the expiration date.
II.The policy can be cancelled for specified reasons is insurer follows the cancellation provisions specified in the policy

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

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Definitions:

Regression Line

A statistical tool represented as a line on a graph that best fits the data points, showing the relationship between two variables.

Profits

The financial gain obtained when the revenues from business activities exceed the expenses, costs, and taxes associated with the operation.

Exponential Smoothing

A time series forecasting method for smoothing data points by assigning exponentially decreasing weights over time.

Trend Adjustment

A statistical technique used to correct or adjust data to account for systematic patterns or trends over time, improving the accuracy of forecasts.