When You Have an Auto Accident That Is Your Fault

question 19

Multiple Choice

When you have an auto accident that is your fault, your PAP's Liability coverage will pay for all of the following except:

• A) bodily injuries of your family members riding with you
• B) bodily injuries of non-family members who are passengers in your car at the time of the accident
• C) bodily injuries of your best friend who is a passenger in your car at the time of the accident
• D) the cost to repair or replace property belonging to others that you damaged in the accident

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Definitions:

Petty Cash Fund

A small amount of cash kept on hand within a business for minor, day-to-day expenses.

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.

Highly Liquid Investments

Investments that can be quickly converted into cash without a significant loss in value.

Specific Amount

A precise quantity or financial figure identified within a transaction or financial statement, not generalized or estimated.