Which of the Following Is a Distinguishing Characteristic of Comprehensive

question 31

Multiple Choice

Which of the following is a distinguishing characteristic of comprehensive general liability insurance?

• A) It compensates for liability for damage to the property of third parties.
• B) It compensates for liability for personal injuries suffered by a third party.
• C) It compensates for a third party's property damage and personal injuries.
• D) It compensates for losses sustained directly by the insured itself.

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Definitions:

National Compensation Survey

The National Compensation Survey is a comprehensive study conducted by the Bureau of Labor Statistics in the United States that gathers and analyzes salary and benefits data across various occupations and regions.

Salaries

Regular payments made by employers to employees, usually monthly or bi-weekly, for their work or services.

Economic Theory

A set of principles and methodologies that explain and predict economic phenomena.

Market Rate

The average or standard amount of money paid for a particular job in the labor market.