The Liability Coverage of the PAP Is Excess with Regard

question 21

Short Answer

The liability coverage of the PAP is excess with regard to a nonowned vehicle.If two excess policies apply, then the "other insurance" provision calls for a(n) _____ distribution of liability.

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Definitions:

Equally-Weighted Portfolio

An investment portfolio where each asset is allocated the same proportion of the total investment, disregarding market capitalization.

Portfolio Return

The overall gain or loss of an investment portfolio, considering all sources of income and capital gains.

Single Factor APT

Arising from the Arbitrage Pricing Theory, this is an asset pricing model based on a single factor, typically the market return, to predict security returns.

Arbitrage Opportunities

Situations where a trader can profit from discrepancies in prices across different markets or instruments without risk.