A ________ provides the exclusive legal right to reproduce, publish, and sell the fixed form of an expression of an original creative idea

Last year, XYZ Insurance Company had a combined ratio of 102.4 and lost $10.2 million on the insurance that it sold

The company, however, was required to pay income taxes. The best explanation for this apparent contradiction is that XYZ offset its underwriting loss with A) increased loss reserves. B) investment income. C) increased loss adjustment expenses. D) unearned premiums.

The functional replacement provision in some property insurance policies is used when:

A) replacing a lost item is impossible B) replacing a lost item is much cheaper than expected C) replacing a building will cost much more than its market value D) an insured set of objects is collectively worth more than the sum of its individual components