All of the following are approaches for protecting innocent victims of automobile accident EXCEPT:
a) Uninsured motorist coverage
b) No-fault automobile insurance
c) Financial responsibility laws
d) Higher deductible on collision coverages
Answer: d) Higher deductible on collision coverages
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In which of the following cases will the agency problem between shareholders and managers be the
greatest? A) The Johnson family owns 50% of the common stock of the company. The other 50% is owned by 5 mutual funds. B) 100% of the common stock is owned by the founder of the company who decided to retire and hired a manager to run his business for him. C) The common stock of the company is owned by many diverse shareholders, with no shareholder owning more than 1% of the outstanding stock. D) All top managers in the company own significant amounts of stock and stock options.
If the current rate of interest is 8% APR, then the future value of an investment that pays $250 per quarter and lasts 20 years is closest to:
A) $18,519 B) $48,443 C) $9936 D) $20,000