1. For purposes of crime coverages, the taking of property from one person by so

Question

1. For purposes of crime coverages, the taking of property from one person by someone else who has either caused harm or threatened to cause harm is referred to as

A. Burglary

B. Disappearance

C. Robbery

D. duress

2. Which of the following statements concerning a businessowners policy (BOP) is (are) correct?

I. A BOP is designed to be used by any type or size of business.

II. A BOP includes coverage for certain types of business income losses.

A. I only

B. II only

C. Both I and II

D. Neither I nor II

3. Which of the following statements concerning business overhead insurance is (are) correct?

I. These policies provide funds that can be used to cover many of the ongoing costs of operating a business while the owner is totally disabled.

II. These policies tend to have benefit durations of 5 years of more and have fairly long waiting periods.

A. I only

B. II only

C. Both I and II

D. Neither I nor II

Explanation / Answer

1) The correct option is  Burglary

the taking of property from inside the premises by a person unlawfully entering or leaving the premises, as evidence by marks of forcible entry or exit. visible marks or damage at the point of entry or exit are needed to confirm

2) The correct option is B

The BOP is a package policy providing most of the property (both direct and indirect), crime, and liability coverages that small and medium-sized businesses require. The BOP does not cover businesses related to autos, bars, and banks.

3)The correct option is C

Business Overhead Expense insurance is designed to reimburse a business for overhead expenses in the event a business owner becomes disabled. Expenses such as rent, utilities, telephone, equipment, employees' salaries, etc.). The benefit period may be written for a specified number of year (2, 5, or 10 years), to age 65 or for life.

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