Which One of the Following Insurance Policy Provisions Requires the Insured

question 18

Multiple Choice

Which one of the following insurance policy provisions requires the insured to pay for part of the loss if the property is not insured for the specified percentage of replacement value?

• A)Personal property floater
• B)An endorsement
• C)Coinsurance clause
• D)Umbrella coverage
• E)Assigned risk clause

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Definitions:

Population Mean

The average value of all elements in a population.

Population Values

The actual numerical values representing a characteristic of every individual member of a population.

Confidence Level

A measure indicating the probability that a given range includes the true value of an estimated parameter.

Confidence Interval

A confidence interval is a range of values, derived from sample statistics, that is likely to contain the value of an unknown population parameter, with a specified level of confidence.