Final answer:
MPCI cannot be bought after the sales closing date. This insurance covers various perils and can be provided by private insurers, regulated by government. Coverage details, including earthquake coverage, may vary by policy. The correct answer is option B. MPCI cannot be purchased after the sales closing date.
Step-by-step explanation:
Among the statements provided about multi-peril crop insurance (MPCI), the true one is: MPCI cannot be purchased after the sales closing date. This type of insurance has deadlines that are critical for farmers to adhere to. If a farmer attempts to purchase MPCI after the sales closing date, they will not be able to obtain coverage for that crop year.
It’s important to note that MPCI coverage can be quite comprehensive and generally offers protection against a variety of risk factors, including natural disasters, price declines, and disease, among others. The statement suggesting that MPCI must be run by the state is false, as MPCI policies can be provided by private insurers but are usually regulated and sometimes subsidized by governments.
Lastly, the claim that it does not cover earthquake may or may not be true as coverage details can vary by the policy; some may exclude earthquake while others might offer it as a covered peril.