Which of the Following Terminates the Insurer's Duty to Perform

question 53

Multiple Choice

Which of the following terminates the insurer's duty to perform under the policy?

• A)The insured's breach of warranty
• B)An increase in the value of the insured property
• C)A decrease in the value of the insured property
• D)A case of innocent misrepresentation by the insured

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Definitions:

Unit Product Cost

The total cost to produce one unit of a product, comprising both direct costs like materials and labor, and allocated indirect costs.

Variable Costing

A bookkeeping procedure that adds only variable production fees (including direct materials, direct labor, and variable manufacturing overhead) into the costs associated with products.

Unit Product Cost

The total cost to produce a single unit of product, including direct materials, direct labor, and allocated overhead.

Direct Labor Cost

The expense of labor that can be directly attributed to the production of goods or services.