Which of the Following Statements About Endorsements to the Homeowners

question 17

Multiple Choice

Which of the following statements about endorsements to the homeowners policy is (are) true?
I.The purpose of the inflation guard endorsement is to help prevent home owners from being under-insured.
II.The purpose of the watercraft endorsement is to provide coverage for watercraft when they are used outside the United States.

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

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Definitions:

Securities Exchange Act

The Securities Exchange Act is a U.S. federal law that governs the trading of securities, such as stocks and bonds, to protect investors against fraud and to regulate the securities industry.

Scienter

A legal term referring to the knowledge of wrongdoing, particularly in cases of fraud or deceit.

Fraud

The intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Scienter

Knowledge of the wrongful nature of one's actions, particularly in the context of securities fraud.