Which of the Following Statements Concerning Homeowners' Insurance Is False

question 29

Multiple Choice

Which of the following statements concerning homeowners' insurance is false?

• A)Under named perils insurance,it is the insurance company's responsibility to prove that your loss was not due to one of the named perils.
• B)Even under all risks insurance some perils,such has earthquakes,are excluded.
• C)Named perils insurance protects you only against perils that are specifically named in the policy.
• D)In actuality,named perils insurance provides broader coverage than all risks insurance.

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Definitions:

Total Profit

is the financial gain made by a business after subtracting all expenses, taxes, and costs associated with generating the revenue.

Profit Per Unit

The amount of profit generated by selling one unit of a product or service.

Profit Maximizing

The process or strategy employed by businesses to increase their profits to the highest possible level given their resources and constraints.

Total Revenue

The income generated by a company from the sale of its goods or services before any costs or expenses are subtracted.