Which of the Following Statements Concerning Coverage for a Newly-Acquired

question 2

Multiple Choice

Which of the following statements concerning coverage for a newly-acquired auto under the Personal Auto Policy?
I.The insured must notify the insurer within 14 days after becoming the owner for the collision coverage to continue to be in force.
II.There is no notification requirement for the liability coverage to remain in force until the end of the policy period.

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

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Definitions:

Production Possibilities Curve

A curve showing the different combinations of two goods or services that can be produced in a full-employment, full-production economy where the available supplies of resources and technology are fixed.

Government-Mandated

Regulations or requirements imposed by governmental bodies that must be followed by individuals, businesses, or other organizations.

Demand Curves

A graphical representation showing how the quantity demanded of a good or service varies with its price.

Supply Curves

A graphical representation of the relationship between the price of a good and the quantity of the good supplied by producers.