Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In 2018, Mark purchased a new vehicle from his local dealership. The next year, he was involved in an accident that caused serious damages to

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

In 2018, Mark purchased a new vehicle from his local dealership. The next year, he was involved in an accident that caused serious damages to his car by another driver who was later deemed to be at fault. The adjustor notified him that the vehicle was unable to be salvaged. What would have been the best policy option for Mark to have in his insurance contract? A high amount of liability insurance A temporary substitute automobile clause A waiver of depreciation feature Comprehensive Insurance John's car was parked in his driveway when a neighbor noticed flames coming from the vehicle. The car was severely damaged and John contacted his insurance carrier. Under which type of coverage would John's claim fall? Collision Comprehensive Third party liability Accident benefits Greg recently purchased auto insurance for his new car, valued at $35,000. Which of the following statements best describes why Greg's insurance policy is considered a contract of indemnity? Greg is both the owner and beneficiary of the policy The amount payable under the contract is established in advance of any loss Greg can receive at most $35,000 from the insurance company for damage to his car The insurer agrees to fulfill the conditions of the contract in event of theft or loss In order to qualify for full federal cash contributions under the Canada Health and Social Transfer (CHST) program, the provinces must abide by the five criteria established by the federal government as they relate to provincial health services. The five criteria are: 1. Neutrality 2. Portability 3. Public administration 4. Comprehensiveness 5. Cohesiveness 6. Universality 7. Accessibility 8. Instantaneous 9. Assessment 10.Accountability 1, 4, 5, 7 and 8 only 1, 5, 8, 9 and 10 only 10.Accountability O 7 1, 4, 5, 7 and 8 only O 1, 1, 5, 8, 9 and 10 only 2, 3, 4, 6 and 7 only 2, 3, 6, 8 and 10 only 68

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Clever Girl Finance Learn How Investing Works Grow Your Money

Authors: Bola Sokunbi

1st Edition

1119696739, 978-1119696735

More Books

Students also viewed these Finance questions