Which of the following statements about a calendar-year deductible is

Which of the following statements about a calendar-year deductible is (are) true?

I. It requires the insured to pay a specified amount of each claim regardless of when the claim occurs during the year and regardless of any previous claims during the year.
II. It is used only in policies which cover direct property losses.
A) I only
B) II only
C) both I and II
D) neither I nor II

ANSWER

Answer: D