Even the Prepared Person Cannot Take Advantage of Luck Unless

question 56

Multiple Choice

Even the prepared person cannot take advantage of luck unless he or she ________.

• A)is highly intelligent
• B)can take action when opportunity knocks
• C)can convince others to join his or her effort
• D)puts in 16-hour days

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Definitions:

Insurance Policies

Contracts between an insurer and a policyholder that provide financial protection and compensation for specific losses in return for premiums paid.

Valued Policy

A type of insurance policy where the value of the insured item is agreed upon at the time the policy is issued, and this amount is paid out in the event of a total loss.

Open Policy

An insurance policy that does not name the specific risks covered, but instead provides coverage for all risks, except those explicitly excluded.

Property Insurance

Coverage that provides financial reimbursement to the owner or renter of a structure and its contents in the event of damage or theft.