Chpa industry terms - Study guides, Class notes & Summaries

CHPA Industry Terms Exam 107 Questions with Verified Answers Additional Living Expense (ALE) Coverage - CORRECT ANSWER A type of insurance included within homeowners' policies. ALE coverage reimburses the insured for the cost of maintaining a comparable standard of living following a covered loss that exceeds the insured's normal expenses prior to the loss. For example, additional living expense insurance would cover an insured's motel bill while fire damage to the home is being repaired, ...

CHPA Industry Terms Additional Living Expense (ALE) Coverage - correct answer A type of insurance included within homeowners' policies. ALE coverage reimburses the insured for the cost of maintaining a comparable standard of living following a covered loss that exceeds the insured's normal expenses prior to the loss. For example, additional living expense insurance would cover an insured's motel bill while fire damage to the home is being repaired, the home is replaced, or until the insured ...

CHPA Industry TermsAdditional Living Expense (ALE) Coverage - correct answer A type of insurance included within homeowners' policies. ALE coverage reimburses the insured for the cost of maintaining a comparable standard of living following a covered loss that exceeds the insured's normal expenses prior to the loss. For example, additional living expense insurance would cover an insured's motel bill while fire damage to the home is being repaired, the home is replaced, or until the insured mo...

CHPA Industry Terms questions and answers

Additional Living Expense (ALE) Coverage - ANSWERA type of insurance included within homeowners' policies. ALE coverage reimburses the insured for the cost of maintaining a comparable standard of living following a covered loss that exceeds the insured's normal expenses prior to the loss. For example, additional living expense insurance would cover an insured's motel bill while fire damage to the home is being repaired, the home is replaced, or until the insured moves to a permanent residence...

CHPA Industry Terms(The CHPA-approved industry terms are used to support the terminology employed on the Certified Corporate Housing Professional (CCHP) exam. These terms are developed by the CCHP Task Force and approved by the CHPA Board of Directors)2023.

CHPA Industry Terms 36-46 Long Distance Block - correct answer A process that prohibits access to long distance services on the telephone. Lump Sum Relocation Coverage - correct answer A relocation package that provides an employee with a specific dollar amount to cover the relocation needs of the employee and their family that they are free to use at their discretion. Master community lease - correct answer An agreement with a community that encompasses one or multiple units. Lease Ma...

CHPA Industry Terms 16 - 35Mission Statement - correct answer A statement of the purpose of a company or organization. The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated." Credit card authorization form - correct answer A written authorization giving the company permission to charge a credit card, from the person ...

CHPA Industry Terms 1-15Additional living expense (ALE) coverage - correct answer Reimburses the insured for the cost of maintaining a comparable standard of living following a covered loss that exceeds the insured's normal expenses prior to the loss. For example, additional living expense insurance would cover an insured's motel bill while fire damage to the home is being repaired, the home is replaced, or until the insured moves to a permanent residence. ALE coverage is subject to a limit eq...

CHPA Industry Terms 66 - 80 Statement of Deposit Account (SODA) - correct answer A written accounting of the status of a deposit once a unit is vacated. Any charges as a result of damages or unpaid rent are itemized. Temporary Duty Year (TDY) - correct answer Government employee on assignment at more or more locations, away from the permanent duty station (PDS), under orders providing for further assignment, or pending further assignment, to return to the old PDS or to proceed to a new PDS. ...