Annette and Ron Just Got Married

question 61

Multiple Choice

Annette and Ron just got married. They received some very expensive wedding gifts including some beautiful silverware and jewelry. Their homeowner's policy:

• A) automatically covers these items.
• B) does not automatically cover such items and they must take out a separate policy specifically for those types of items.
• C) does not automatically cover these items, but a rider can be used to add this coverage.
• D) automatically covers these items from theft, but not from damage due to fire, explosion, or vandalism.

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Definitions:

Compounded Monthly

An interest calculation method where interest is added to the principal once a month, affecting the overall interest earned or paid.

GICs

Known as Guaranteed Investment Certificates in Canada, these investments assure a certain rate of return within a predetermined period.

Investor

An individual or organization that allocates capital with the expectation of receiving financial returns.

Rate

The percentage at which interest is charged or paid, or a measure of change over time.