INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 153

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement.
-Marilee has insurance (which does not expire for another six months) on a house she recently sold to Claudia.Now the house has been flattened by a tornado.Marilee [can | cannot] collect on her policy.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Goodwill

The intangible asset representing the value of a business's reputation, customer relations, and brand identity that contributes to its profitability.

Usury Statutes

Laws regulating the maximum interest rates that can be charged on loans.

Real Estate Mortgages

A secured loan agreement where the borrower pledges real estate property as collateral for the loan, which the lender can seize if the loan isn't repaid.

Consumer Loans

Financial loans given to individual borrowers for personal, family, or household purposes, as opposed to business or commercial loans.