What is ‘money laundering’?
A – The act of investing money in a manner to avoid taxation
B – The act of investing money overseas to avoid UK duty
C – The process by which criminals hide the true origin and ownership of money
D – The process by which money is transferred from one bank account or insurance policy to another
C: The process by which criminals hide the true origin and ownership of money.
When a caravan is being towed and is involved in a fault motor accident, resulting in damage to third-party property, does the liability section of the caravan policy cover the damage to the third-party property?
A: No, only third-party injuries are covered B: Yes, all third-party liabilities are covered C: No, any third-party liability while being towed is excluded D: Yes, providing the caravan had not become detached when the damage occurred
Generally, which of these ultimately pays the insurance premium on a commercial property owners policy?
A: The owner B: The tenant C: The managing agent D: The owner and the managing agent
D: A fiduciary is a person who occupies a position of trust and is required to act for the latter’s benefit.