Please tell me these True/False questions.

1. A typical property insurance policy requires that whenever a property loss occurs, the insured must give prompt notice to the insurer.

2. Compensatory damages are intended to punish a wrongdoer whose outrageous conduct has caused injury or damage to another party.

3. Deductibles both minimize attitudinal hazard and lower premium costs.

4. In a liability insurance policy, the insurance company has an obligation to provide a defense at its expense.

5. Most property and liability policies contain a provision that specifies how an insurer's obligation is affected by the existence of other insurance that covers a loss.

6. Negligence is the failure to exercise the proper degree of care required by the circumstances.

7. Open-perils coverage refers to a policy that contains a very long list of named perils.

8. Property and liability insurance premiums paid for business coverage are generally deductible as a business expense.

9. Standard property and liability insurance policies largely eliminate the need for consumers to make choices other than policy amounts.

10. An HO-3 policy covers damage to the insured's residence building against open perils, including earthquake and flood.

11. Coverage for children over the age of 21 under their parents' homeowners policy is discontinued, even if the children continue to reside in their parent's household.

12. In a homeowners policy, the amount payable for the loss of money and securities is limited only for theft.

13. The limits for homeowners Coverages B,C, and D are part of the Coverage A limit.