FIN 3113 Chapter 10 Complete Answered 100% correctly_ Spring 2023

1. All property insurance companies require you to show the following when making a claim: a. Proof of loss b. Personal property inventory c. Values at the time of inventory d. All of the above. ____ 2. The asset most likely to be specifically itemized in a property insurance endorsement is a. sofa. b. clothing. c. jewelry. d. garden equipment. e. all of these. ____ 3. Your standard HO policy will not include coverage for damage done by a. flood. b. windstorm. c. falling objects. d. wind. e. theft. ____ 4. Which Homeowners' policy is best suited for a resident of a rented apartment to cover that person's personal property? a. HO-3 b. HO-4 c. HO-5 d. HO-8 e. A Homeowners' policy will not apply since the real estate involved is not owned by the insured. ____ 5. Negligence results when a person a. is not insured. b. acts as a "reasonable person." c. fails to act as a "reasonable person." d. admits it. e. is more than 18 years old. ____ 6. Donna, who is single and 30-years-old, has received several speeding tickets recently and was shocked by the effect on her auto insurance. Donna drives a 2002 Pontiac Firebird, is currently not covered by health insurance, has an emergency fund of $25,000, an income of $100,000 per year, and an investment portfolio of $230,000. She is trying to reduce the price of her auto insurance. Which of the following actions is most likely to be advisable. a. lower her liability limits to the minimum allowed in her state b. drop