Author Question: Which of the following statements about the insurer's obligation to provide a legal defense under ... (Read 61 times)

SAVANNAHHOOPER23 · **on:** Jul 11, 2018

Which of the following statements about the insurer's obligation to provide a legal defense under the personal liability coverage (Coverage E) of the homeowners policy is (are) true?

I. The insurer agrees to defend the insured only if the suit is not groundless, false, or fraudulent.
II. The insurer's obligation to defend the insured ceases after the amount paid for damages from an occurrence equals the policy limit.
A) I only
B) II only
C) both I and II
D) neither I nor II

Question 2

What information does a firm's balance sheet provide to the viewing public?

A) a complete listing of all of a firm's cash receipts and cash expenditures for a defined period of
time
B) an itemization of all of a firm's assets, liabilities, and equity as of the balance sheet date
C) a report of investments made and their cost for a specific period of time
D) a report of revenues and expenses for a defined period of time

adf223 · **Reply #1 on:** Jul 11, 2018

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