In an Automobile Insurance Policy, If You Choose This Limit

question 31

Multiple Choice

In an automobile insurance policy, if you choose this limit of liability, a set of two limits will be specifically applied to bodily injury, and a single, aggregate limit will be applied to property damage.For the bodily injury limits, one limit applies per person, per accident, and a second limit is the total the insurer will pay for your liability to all persons injured in an accident.The limit for property damage is shown separately.Identify this limit of liability.

• A)Double limit of liability
• B)Split limit of liability
• C)Tort limit of liability
• D)Multiple limit of liability
• E)Single limit of liability

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Definitions:

Inventory Profile

A detailed outline or analysis of the types, amounts, and locations of inventory a company holds at any given time.

Graphical Plot

A visual representation of data points on a coordinate system, used to observe relationships or patterns within the data.

Economies of Scale

Refers to the cost advantage achieved when production becomes efficient, as the scale of the output expands, typically resulting in a reduction in average cost per unit through increased production efficiency.

Cycle Inventory

Inventory that turns over regularly in the course of business operations, representing the portion of inventory intended to meet normal demand.