In the ISO Commercial Crime Coverage Form,robbery Is Defined as the

question 38

Multiple Choice

In the ISO Commercial Crime Coverage form,robbery is defined as the

• A)unlawful taking of property to the deprivation of the insured.
• B)unlawful taking of property from the care and custody of a person by someone who has caused or threatens to cause bodily harm or who has committed an unlawful act witnessed by that person.
• C)unlawful taking of money or securities through the alteration of a negotiable instrument.
• D)unlawful taking of property from inside the premises by someone who unlawfully enters or leaves the premises as evidenced by marks of forcible entry or exit.

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Definitions:

Transaction Costs

The expenses incurred when buying or selling goods or services, beyond the price of the goods.

Opportunity Cost

The value of the next best alternative forgone as the result of making a decision.

Voluntary Exchange

A transaction where two parties trade goods or services by mutual agreement without coercion.

Transaction Costs

Expenses incurred during the buying or selling process, not limited to the price of the good, like fees, taxes, or other costs associated with the transaction.