Minnesota Real Estate Exam Practice Question
Which of the following is TRUE about the Terrorism Risk Insurance Act of 2007?
Correct Answer: B
Rationale: The Terrorism Risk Insurance Act of 2007 ensures the availability of commercial property and casualty coverages specifically for acts of terrorism, making option B accurate. Option A is incorrect as the Act does not provide direct insurance for all terrorist acts but rather a framework for insurers. Option C is misleading; the Act does not specifically cover future attacks on the World Trade Center or Pentagon but addresses broader terrorism-related insurance needs. Option D is false because, while insurers may choose to offer coverage, the Act mandates certain conditions and does not allow for arbitrary exclusion of coverage.
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