Which of the Following Statements Is True About Open-Perils Policy

question 60

Multiple Choice

Which of the following statements is true about open-perils policy and named-perils policy?

• A)Open-perils policies cover many perils not covered by named-perils policies.
• B)An open-perils policy covers only losses caused by the perils listed in the policy.
• C)A named-perils policy is also known as the "all risk" policy.
• D)The exclusions in a named-perils policy are more definitive of coverage than in an open-perils policy.
• E)A named-perils policy provides broader coverage than an open-perils policy.

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Definitions:

Endogenous

Originating from within an organism, system, or process, often referring to substances or processes that occur naturally inside the body.

Reactive Depression

A type of depression triggered by a significant stressful life event or situation.

Stressful Events

Incidents or situations that trigger a state of emotional or physical tension, often requiring adjustment or coping mechanisms from the individual.

Endogenous Depression

Endogenous Depression is a subtype of major depressive disorder thought to occur due to internal biochemical imbalances rather than external stressors.