Question

1. why is a homeowners insurance policy considered a package policy?

○ a. it combines two or more separate coverages in a single policy.
○ b. it comes in a policy binder.
○ c. it is associated with home ownership.
○ d. it is usually sold with other policies.

1. pierres homeowners policy often refers to \we.\ he correctly determines that \we\ means:

○ a. pierre and his family
○ b. the insurance agent who sold the policy
○ c. the insurance company
○ d. the insurance industry

1. kathie is the only person named in the declarations of her homeowners insurance policy. when her policyfers to an \insured\ it does not include:

○ a. kathie

Explanation:

• Question 73: A package policy combines multiple coverages. Homeowners insurance typically covers property (like the house itself) and liability (protection against lawsuits if someone is injured on the property), so it fits the definition of combining two or more separate coverages in a single policy.
• Question 74: In an insurance policy, "we" refers to the entity providing the insurance, which is the insurance company. The policy is a contract between the insured (Pierre) and the insurer (the company).

Answer:

• 73. A. It combines two or more separate coverages in a single policy.
• 74. C. the insurance company