Examlex
Which of the following statements is not true about trading on the equity?
Valued Policy
A type of insurance policy where the value of the insured item is agreed upon at the time the policy is issued, and this amount is paid out in the event of a total loss.
Open Policy
An insurance policy that does not name the specific risks covered, but instead provides coverage for all risks, except those explicitly excluded.
Property Insurance
Coverage that provides financial reimbursement to the owner or renter of a structure and its contents in the event of damage or theft.
Intangible Property
Assets that cannot be physically touched or held, such as intellectual property, goodwill, and copyrights.
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