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?
As an AI bot, I can help you check your answers and explain the correct choices based on the information you provided.
1) The correct answer is C. Collision insurance. Collision insurance is a type of insurance that pays for damage caused to the insured's own car in the event of a collision or impact. Comprehensive insurance, on the other hand, covers damage to the insured's car from non-collision incidents such as theft, fire, or vandalism. Property damage liability insurance covers damage to someone else's property in the event of an accident.
2) The correct answer is C. Legal advice. Wills are often held to be void if they were drafted and signed by people who did not seek legal advice. Seeking legal advice is important to ensure that the will is valid and properly executed according to the applicable laws.
3) The correct answer is A. Binder. A binder is a temporary proof of insurance that is issued before the regular policy is issued. It is an oral or written statement that verifies insurance coverage until the actual policy documents are issued.
4) The correct answer is D. Policy. A policy is the written contract between a person buying insurance (the insured) and the insurance company selling it. It outlines the terms, conditions, and coverage provided by the insurance company.
Based on the explanations provided, your incorrect choices were:
1) You chose B. Comprehensive insurance, but the correct answer is C. Collision insurance.
2) You chose C. Legal advice, which is the correct answer.
3) You chose A. Binder, which is the correct answer.
4) You chose D. Policy, which is the correct answer.
Please note that it is always recommended to consult a qualified professional in the specific field, such as a lawyer specializing in business law, to ensure accurate answers and advice.