Which of the Following Is an Accurate Statement About Property

question 34

Multiple Choice

Which of the following is an accurate statement about property insurance policies?

• A)They are less likely to provide coverage for flood-related losses than for lightning-related losses.
• B)They are more likely to provide coverage for losses resulting from friendly fires than for losses resulting from hostile fires.
• C)They do not provide coverage for losses resulting from fires that were intentionally caused by persons having no connection with the insured.
• D)Requisite insurable interest must generally exist at the time of the entering into the policy.

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Definitions:

Nonconforming Goods

Products delivered under a contract that fail to meet the specifications or quality standards agreed upon.

Destination Contract

A destination contract is an agreement in which the seller is obligated to transport goods to a specific destination, with risk of loss passing upon delivery at the destination.

Anti-Piracy Agreements

Contracts or treaties between entities aimed at preventing unauthorized reproduction or distribution of copyrighted material.

Shipping Concerns

Issues or problems related to the transport of goods, such as delays, damage, or loss during transit.