Idaho Property & Casualty Exam Prep (A+ GUARANTEED)

Which of the following statements is false with respect to requirements for rates? A) Rates may not be inadequate B) A purpose of the rate regulation is to diminish competition between insurers C) Rates may not be unfairly discriminatory D) A purpose of the rate regulation is to regulate cooperative action among insurers correct answers B The Businessowners Coverage Form to the Businessowners Policy provides coverage on which of the following basis? A) Modified Perils B) Simplified Perils C) Broad Perils D) Open Perils correct answers D Which of the following describes the coverage of the Extra Expense Coverage Form? A It covers the loss of business income during the period of restoration B It covers the expense of disposing of spoiled merchandise caused by a power outage C It covers the necessary additional expenses incurred during the period of restoration which would not otherwise have been incurred in the absence of a direct loss D It covers the expense of removing the debris of a covered direct loss correct answers C All of the following are true of negligence, except: A It is the failure to use ordinary care B It does not require a duty to be owed C It is a type of tort D It does not include breach of contract correct answers B All of the following are Optional Coverages under the Businessowners Policy, except: A Money and securities B Employee dishonesty