Some states do not require an individual to demonstrate the ability to pay an automobile liability claim until after the individual has been involved in an accident or has been convicted for certain offenses,
such as driving under the influence of alcohol. This approach to dealing with compensating innocent auto accident victims is called a(n)
A) unsatisfied judgement fund.
B) financial responsibility law.
C) uninsured motorist law.
D) compulsory insurance law.
Answer: B
Business
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A firm increases the risks of insolvency by keeping relatively large amounts of money tied up in
marketable securities. Indicate whether the statement is true or false
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