An Insurance Policy That Covers a Person for Errors or Omissions

question 67

Multiple Choice

An insurance policy that covers a person for errors or omissions made in the course of carrying out his or her professional responsibilities is sometimes referred to as a[n] ________.

• A)errors and omissions policy.
• B)deductible policy.
• C)professional indemnification and malpractice policy.
• D)professional errors policy.
• E)professional malpractice policy.

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Definitions:

CPI

This index measures the average prices across a specified set of consumer goods and services, weighted accordingly, to serve as a benchmark for inflation, known as the Consumer Price Index.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care, used to estimate the economy's inflation rate.

Inflation Rate

The annual percentage increase in the general price level of goods and services, reflecting the rate at which the purchasing power of currency is eroded.

Market Basket

A fixed list of items, used to track the progress of inflation in an economy or to compare costs of living.