Which of the Following Statements Is TRUE with Respect to Property

question 56

Multiple Choice

Which of the following statements is TRUE with respect to property insurance?

• A) A benefit paid by an insurer to an insured is called a premium.
• B) Property insurance is available for real property, but not personal property.
• C) A benefit may be paid under a property insurance policy even if the insured is entitled to sue a third party for causing the loss or damage in question.
• D) Property insurance is called first party coverage only if the insurer sold the policy to a human being, rather than a corporation.
• E) Property insurance is called third party coverage if one person buys insurance with respect to property that is owned by another person.

---

Definitions:

Ethics Competency

The ability to recognize ethical dilemmas, understand various ethical perspectives, and make decisions that align with ethical principles.

Bank CEO

The chief executive officer of a banking institution, responsible for the strategic direction and management of the bank.

Creative Way

An innovative or original approach to solving problems or generating new ideas.

Save Bank

A strategy or plan to conserve financial resources or prevent financial collapse.