Which of the Following Statements About Lloyd's of London Is

question 43

Multiple Choice

Which of the following statements about Lloyd's of London is true?

• A)Coverage is actually written by syndicates who belong to Lloyd's of London.
• B)New individual members or Names who belong to the various syndicates have unlimited legal liability.
• C)It operates as an admitted insurer throughout the United States.
• D)It allows underwriters to write coverage without meeting stringent financial requirements.

---

Definitions:

Beriberi

A disease caused by a vitamin B1 (thiamine) deficiency, leading to weakness, nerve damage, and heart failure.

Vitamin

Organic substance that is essential for normal body growth and maintenance and resistance to infection.

Closing Entries

At the close of an accounting period, recordings are made to move balances from temporary accounts to those that are permanent.

Adjustment Columns

Special columns found in accounting ledgers and worksheets used for making necessary modifications to accounts at the end of a reporting period.