What term best describes a situation where the lessor collects rents from the tenants and pays expenses out of those rents?

The assets of a property and liability insurance company are primarily

A) investments such as stocks and bonds. B) loss reserves. C) plant and equipment. D) premiums paid by policyholders.

The general liability policy covers bodily injury or property damage caused by "an accident, including continuous repeated exposure to substantially the same general harmful conditions." This cause is loss is called a(n)

A) occurrence. B) accident. C) event. D) incident.