can someone who is knowledgeable in business law please check my answers thank you.
1.)insurance that pays for damage from some type of impact to the insured 's own car is?
a.property damage liability insurance
b.comprehensive insurance
c.collision insurance
d.uninsured
i chose b?
2.)many wills are held to be void because they were drafted and signed by people who did not seek?
a.witness
b.relatives
c.legal advice
d.agents
i chose c?
3.)an oral or written statement verifying insurance coverage before the regular policy is issued is a ?
a.binder
b.premium
c.risk
d.grace period
i chose a?
4.)the written contract between a person buying insurance and the insurance company selling it is the?
a.premium
b.binder
c.insurance plan
d.policy
i chose d?
1.) To determine the correct answer, you can refer to the definitions of the different types of insurance mentioned in the question.
- Property damage liability insurance typically covers damage caused by the insured to someone else's property and not damage to the insured's own car.
- Comprehensive insurance covers damage to the insured's own car from various causes other than collisions, such as theft, fire, or natural disasters.
- Collision insurance specifically covers damage caused by collisions with other vehicles or objects.
Based on this information, the correct answer to the first question would be c. collision insurance, as it specifically covers damage to the insured's own car from impacts and collisions.
2.) For this question, you need to consider the reasons why many wills are deemed void.
- A witness is someone who can testify to the signing of a legal document, including a will. While witnesses are important for the validity of a will, they are not the primary reason why many wills are void.
- Relatives, agents, or legal advisors can play different roles in the creation and execution of a will, but again, they are not the main reason for a will being deemed void.
The correct answer to the second question would be c. legal advice. Many wills are held to be void because they were not drafted or signed with the assistance of legal advice. Seeking legal advice ensures that the will complies with the necessary legal formalities and requirements.
3.) To determine the correct answer, you need to understand the terms used in insurance.
- A binder is a temporary contract that provides insurance coverage until the regular policy is issued. However, it does not involve a statement verifying insurance coverage.
- Premium refers to the amount of money paid to an insurance company for coverage, and it does not relate to verifying insurance coverage.
The correct answer to the third question would be a. binder. A binder is an oral or written statement that confirms insurance coverage before the regular policy is issued. It is a temporary contract that provides coverage until the permanent policy is prepared.
4.) To answer this question, you need to understand the terms related to insurance contracts.
- Premium is the amount of money paid to the insurance company for coverage, and it does not refer to the written contract between the buyer and the insurance company.
- Binder, as discussed earlier, is a temporary contract that confirms coverage but is not the permanent written contract.
The correct answer to the fourth question would be d. policy. The policy is the written contract between a person buying insurance and the insurance company selling it. It outlines the terms, conditions, coverage, and obligations of the insurer and insured.