Anne Has an Expensive Diamond Ring

question 72

Multiple Choice

Anne has an expensive diamond ring.Which coverage from the following list would pay for damage or theft of this item?

• A)an umbrella policy
• B)a household inventory
• C)additional living expense coverage
• D)a personal articles endorsement
• E)a coinsurance floater

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Definitions:

Free-Riding

The practice of benefitting from a good or service without paying for it or contributing to its provision, often discussed in the context of public goods.

Public Good

A product or service that is non-excludable and non-rivalrous, meaning its consumption by one individual does not reduce its availability to others.

Collective Willingness

The aggregated preference or desire of a group of individuals to support or buy into a particular idea, policy, or product.

Marginal Cost

The boost in complete costs associated with creating one more unit of a product or service.