Which of the Following Statements About the Scheduled Personal Property

question 38

Multiple Choice

Which of the following statements about the scheduled personal property endorsement to the homeowners policy is (are) true?
I.It provides named-perils coverage on scheduled items.
II.It can be used to insure valuable items such as jewelry,silverware,and coin collections.

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

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Definitions:

Payment of Dividends

The distribution of a portion of a company's earnings to its shareholders as determined by the company's board of directors.

Factory Overhead

Indirect costs related to manufacturing, such as utilities, maintenance, and salaries of supervisory personnel not directly involved in production.

Cost

The amount of money that needs to be spent to purchase, produce, or maintain something.

Benefit

An advantage or profit gained from something, often referring to employment perks beyond salary, such as health insurance.