Which of the Following Statements About the Equipment Breakdown Protection

question 9

Multiple Choice

Which of the following statements about the equipment breakdown protection coverage form is (are) true?
I.The covered cause of loss is a breakdown of covered equipment,including boilers,machinery,and electrical and mechanical equipment.
II.It provides coverage for the reasonable cost of expediting permanent repair or replacement of damaged property.

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

---

Definitions:

Insurance Companies

Businesses that provide coverage, compensating policyholders for losses in exchange for premiums.

Limited Liability Partnership (LLP)

A limited liability partnership combines the limited liability advantage of a corporation with the tax advantages of a partnership.

General Partnership

A business arrangement where two or more individuals share ownership, as well as the profits, liabilities, and management duties.

Hedge Funds

Hedge funds are investment funds that employ various strategies to earn active returns for their investors, often engaging in leveraged, long, short, and derivative positions.