What is an insurance policy that covers claims made during the policy year? Which elements are required for legally binding contracts? A mouse is a(n):
Understand the Problem
The questions presented are related to insurance policies and contract law. The first question asks about a specific type of insurance policy covering claims made during the policy year. The second question inquires about elements required for legally binding contracts. The third question distinguishes between different types of devices in relation to a computer mouse.
Answer
72) Claims-made policy, 73) All are correct, 74) Input device.
The answers are: 72) Claims-made policy, 73) All are correct, 74) Input device.
Answer for screen readers
The answers are: 72) Claims-made policy, 73) All are correct, 74) Input device.
More Information
A claims-made policy covers claims made during its active period. Legally binding contracts require elements like offer, acceptance, consideration, legal subject, and capacity. A mouse is a type of input device.
Tips
A common mistake is confusing occurrence and claims-made policies; remember claims-made covers claims made within the policy period irrespective of when the event occurred.
Sources
- Claims-Made Policy: Definition, How It Works, and Coverages - investopedia.com
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