Which of the Following Would Not Be Covered by Your

question 66

Multiple Choice

Which of the following would not be covered by your insurance company, through your liability policy?

• A)Your dog bites a guest and the guest sues you.
• B)While your accountant is visiting you, she trips on your carpet, breaks her leg and sues you.
• C)Your neighbour sues you because you have a tree he feels will fall in his yard and demands you cut it down.
• D)An uninvited salesman walking up your sidewalk trips and falls. He sues you.

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Definitions:

Tax Deductible

Expenses or payments that can be subtracted from gross income to reduce the amount of income subject to tax.

Bonds

Long-term securities issued by corporations, municipalities, or governments to raise funds, paying interest to holders.

Call Option

A financial contract that gives the holder the right, but not the obligation, to buy a stock, bond, commodity, or other asset at a specified price within a specified time period.

Callable Bonds

Bonds that give the issuer the right but not the obligation to redeem the bonds before their maturity date, usually at a predefined call price.