Personal Property Insurance Covers

question 67

Multiple Choice

Personal property insurance covers

• A) All personal property.
• B) Furniture and appliances, but not clothing or some electronics.
• C) Clothing and some electronics, but not furniture and appliances.
• D) All items up to 200% of the insured value of the home.
• E) Personal property items up to 55-75% of the insured value of the home.

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Definitions:

Secured Loan

A loan backed by collateral, reducing the risk for the lender and often resulting in a lower interest rate for the borrower.

Leveraged Lease

A lease agreement where the lessor uses borrowed funds to purchase an asset which is then leased to the lessee, allowing for tax benefits and risk-sharing.

Nonrecourse

A type of loan where the lender’s recovery is limited to the collateral pledged for the loan, with no further claim against the borrower in case of default.

Lease Payments

Lease Payments are regular payments made by a lessee to a lessor for the use of an asset over a specified period.