Which of the Following Statements Is True About Inland Marine

question 53

Multiple Choice

Which of the following statements is true about inland marine insurance?

• A)It is an outgrowth of automobile insurance.
• B)It is often on an open-perils basis.
• C)It is generally for actual cash value.
• D)It is often on a named-perils basis.
• E)It includes wear and tear and intentionally caused loss.

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Definitions:

Technology

Technology encompasses the tools, machines, techniques, and processes used to solve problems or improve conditions, often advancing capabilities in various fields.

Fine Arts

Disciplines involving the creation of artwork that is primarily appreciated for its aesthetic value and emotional power, including painting, sculpture, and music.

Construction

Construction refers to the process of building or assembling infrastructure, buildings, or any other substantial physical structures.

Communalist Orientation

A focus on the community and the collective over the individual, emphasizing shared values and responsibilities.