Which of the Following Obligations Do Most Property Insurance Contracts

question 15

Multiple Choice

Which of the following obligations do most property insurance contracts impose on the property owner?

• A) Identify the perils against which protection is needed.
• B) Divide and classify belongings as " personal property " and " business property. "
• C) Complete a property inventory and designate a future value to each item listed in the inventory.
• D) Arrange for a real estate appraiser to determine the value of the property.
• E) Provide information related to previous rental history and claim history.

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Definitions:

Managers

Individuals responsible for overseeing and making decisions within a business to ensure its goals are met.

Reinvestment Risk

The risk that future proceeds from investments may have to be reinvested at a lower potential interest rate.

Coupon Rate

The interest rate that a bond issuer will pay to a bondholder, typically expressed as an annual percentage of the face value of the bond.

Interest Rates

The percentage of an amount of money charged for its use per period, commonly expressed as an annual percentage rate.