A Property Damage or Public Liability Policy

question 42

Multiple Choice

A property damage or public liability policy

• A) can be cancelled at any time by the insured.
• B) cannot be cancelled by the insured.
• C) can be cancelled at any time by the insurer.
• D) can be cancelled only after 30 day's notice by either party.

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Definitions:

Trade Tariffs

Taxes imposed by a government on imported goods to protect domestic industries and generate revenue.

Wage Rates

The standardized amount of compensation received by a worker per unit of time or per task performed.

High Wages

A level of income that is significantly above the average or minimum wage.

Protectionism

Economic policy of restricting imports from other countries through methods such as tariffs and quotas, intended to protect domestic industries from foreign competition.