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Jim has an auto policy that includes Collision and Comprehensive coverage. Jim's son Jamie is not listed on the policy as he was moved out but has recently moved back home. One night Jim and Jamie have a fight and Jamie steals Jim's car, drives it recklessly, and crashes it. Jim does not want to press charges against his son. How will Jim's policy respond? OA) This will be covered under Collision coverage because Jamie crashed the vehicle OB) This will not be covered because Jamie was driving recklessly when the collision happened OC) This will be covered under Comprehensive coverage because Jamie stole the vehicle OD) This will not be covered because Jim did not have All Perils coverage ançais Font Size: A Alejandro called his Broker before leaving for a three-month trip to the United States and said, "Delete one vehicle from my policy as it will be parked in the garage while I am away. And I will be driving the other vehicle while I am in the US." What should the Broker recommend to Alejandro? OA) Only listed drivers are insured to drive his vehicle while he is out of the country. OB) To purchase additional auto insurance in Florida for the vehicle he is using there. OC) To purchase Suspension of Coverage Comprehensive coverage on his parked vehicle. OD) To increase his Liability limit to offset the difference between CAD and USD.

Jim has an auto policy that includes Collision and Comprehensive coverage. Jim's son Jamie is not listed on the policy as he was moved out but has recently moved back home. One night Jim and Jamie have a fight and Jamie steals Jim's car, drives it recklessly, and crashes it. Jim does not want to press charges against his son. How will Jim's policy respond? OA) This will be covered under Collision coverage because Jamie crashed the vehicle OB) This will not be covered because Jamie was driving recklessly when the collision happened OC) This will be covered under Comprehensive coverage because Jamie stole the vehicle OD) This will not be covered because Jim did not have All Perils coverage ançais Font Size: A Alejandro called his Broker before leaving for a three-month trip to the United States and said, "Delete one vehicle from my policy as it will be parked in the garage while I am away. And I will be driving the other vehicle while I am in the US." What should the Broker recommend to Alejandro? OA) Only listed drivers are insured to drive his vehicle while he is out of the country. OB) To purchase additional auto insurance in Florida for the vehicle he is using there. OC) To purchase Suspension of Coverage Comprehensive coverage on his parked vehicle. OD) To increase his Liability limit to offset the difference between CAD and USD.

Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter19: The Problem Of Adverse Selection
Section: Chapter Questions
Problem 1MC
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Jim has an auto policy that includes Collision and Comprehensive coverage. Jim's son Jamie is not listed on the policy as he was moved out but has recently moved back home. One night Jim and Jamie have a fight and Jamie steals Jim's car, drives it recklessly, and crashes it. Jim does not want to press charges against his son. How will Jim's policy respond? OA) This will be covered under Collision coverage because Jamie crashed the vehicle OB) This will not be covered because Jamie was driving recklessly when the collision happened OC) This will be covered under Comprehensive coverage because Jamie stole the vehicle OD) This will not be covered because Jim did not have All Perils coverage
Transcribed Image Text:Jim has an auto policy that includes Collision and Comprehensive coverage. Jim's son Jamie is not listed on the policy as he was moved out but has recently moved back home. One night Jim and Jamie have a fight and Jamie steals Jim's car, drives it recklessly, and crashes it. Jim does not want to press charges against his son. How will Jim's policy respond? OA) This will be covered under Collision coverage because Jamie crashed the vehicle OB) This will not be covered because Jamie was driving recklessly when the collision happened OC) This will be covered under Comprehensive coverage because Jamie stole the vehicle OD) This will not be covered because Jim did not have All Perils coverage
ançais Font Size: A Alejandro called his Broker before leaving for a three-month trip to the United States and said, "Delete one vehicle from my policy as it will be parked in the garage while I am away. And I will be driving the other vehicle while I am in the US." What should the Broker recommend to Alejandro? OA) Only listed drivers are insured to drive his vehicle while he is out of the country. OB) To purchase additional auto insurance in Florida for the vehicle he is using there. OC) To purchase Suspension of Coverage Comprehensive coverage on his parked vehicle. OD) To increase his Liability limit to offset the difference between CAD and USD.
Transcribed Image Text:ançais Font Size: A Alejandro called his Broker before leaving for a three-month trip to the United States and said, "Delete one vehicle from my policy as it will be parked in the garage while I am away. And I will be driving the other vehicle while I am in the US." What should the Broker recommend to Alejandro? OA) Only listed drivers are insured to drive his vehicle while he is out of the country. OB) To purchase additional auto insurance in Florida for the vehicle he is using there. OC) To purchase Suspension of Coverage Comprehensive coverage on his parked vehicle. OD) To increase his Liability limit to offset the difference between CAD and USD.
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