A Personal Property Floater and a Personal Liability Umbrella Policy

question 63

True/False

A personal property floater and a personal liability umbrella policy offer similar coverage.

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Definitions:

Stock Dividend

A stock dividend is a payment made in the form of additional shares instead of cash, reflecting a company's desire to reward shareholders without reducing cash on hand.

Par Value

The face value of a bond or stock as stated by the issuer, which may differ from its market value.

Capital in Excess

Funds received by a company over and above the par value of its stock, also known as additional paid-in capital.

Retained Earnings

Profits that a company has kept or retained rather than paid out as dividends to shareholders, often reinvested in the business.