All of the Following Statements About Conditions Under a Homeowners

question 24

Multiple Choice

All of the following statements about conditions under a Homeowners 3 policy are true EXCEPT

• A)If an insurer broadens coverage without an additional premium during the policy period,the broadened coverage applies immediately to the present policy.
• B)A waiver or change in any policy provision must be approved in writing by the insurer to be valid.
• C)The insurer must give written consent for an assignment of the policy to be valid.
• D)If the named insured dies,coverage automatically ceases with respect to any property of the deceased.

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Definitions:

Special Journal

A specialized accounting journal dedicated to recording a specific type of transaction, such as sales or purchases, for efficiency.

Total Individually

Calculating or assessing each item on its own, then summing them up for a total figure, often used in accounting or inventory management.

Sales Journal

A dedicated bookkeeping ledger designed for noting every credit sales transaction a business conducts.

Purchases Journal

A ledger in accounting used specifically to record all purchase transactions of a company, especially those made on credit.