Your Understanding of Insurance Policy Provisions Is Enhanced If You

question 16

Multiple Choice

Your understanding of insurance policy provisions is enhanced if you focus on ____ covered.

• A)perils and property
• B)types of losses and people
• C)locations and time period
• D)All of these

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Definitions:

Celler-Kefauver Act

The federal law of 1950 that amended the Clayton Act by prohibiting the acquisition of the assets of one firm by another firm when the effect would be less competition.

Federal Trade Commission

A U.S. government agency whose mission is to protect consumers and promote competition.

Misleading Advertising

Advertising that deceives or is likely to deceive the consumers, making them believe something about a product or service that is not true.

Insider Trading

Refers to illegal practice where trade of a company's stock is undertaken by people who have access to non-public, material information about the company.