Insurance Planning Final: Exam Section

Section $1$ of $1$

$48\mathrm{.}0\%$ Complete

Which of the following statements concerning the insurance terms is $($are$)$ correct?

I. Subrogation is the right, upon paying the insured the amount of a loss, to try to collect from a responsible third party.

II$.$ Indemnity is when an insured is entitled to payment only to the extent of financial loss or legal liability.

A$.$ I only.

B$.$ II only.

C$.$ Both I and II$.$

D$.$ Neither I nor II$.$

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