Which of the Following Statements About the Payment of Defense

question 43

Multiple Choice

Which of the following statements about the payment of defense costs by the PAP is (are) true?
I.They are paid in addition to the policy limits.
II.They are payable even after the limit of liability is exhausted.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Demand

The consumer's desire to purchase goods and services and willingness to pay a price for a specific good or service.

Cross Elasticity

A measure of how the quantity demanded of one good responds to a change in price of another good.

Dress Shirts

A type of shirt designed to be worn with formal attire, characterized by a collar, buttons, and long sleeves.

Ties

In business and economics, may refer to agreements or relationships between entities that link their interests or operations.