Bpp optional coverages - Study guides, Class notes & Summaries

Which one of the following lists the covered causes of loss (basic, broad, or special); the deductible amount; and any optional coverages? a. Commercial property conditions b. Commercial property declarations c. Causes of loss forms d. Commercial property coverage forms - Answer-b. Commercial property declarations Which one of the following is covered under the Building and Personal Property Coverage form (BPP) as business personal property? a. Completed additions to a building b. Perma...

CPCU 557 CHAPTER 2 EXAM 2024 WITH 100% CORRECT ANSWERS BPP Loss Conditions - correct answer Abandonment Appraisal Duties in the Event of Loss or Damage Loss Payment Recovered Property Vacancy Valuation Coinsurance Mortgageholder What are the 4 Loss Payment options? - correct answer 1. Pay the Amount of the Damage 2. Pay the cost of repairing or replacing the damaged property 3. Take all or any part of the property and pay either agreed or appraised price 4. Repair/replace with...

RMIN 5100S Exam 2 Study Guide 2024 With Complete Solution categories of commercial loss exposures -Correct Answer-property, personnel, liability, net income loss property loss -Correct Answer-- tangible: personal property, real estate -intangible: patent, copyright personnel loss -Correct Answer-death, disability, injury, retirement liability loss -Correct Answer-your responsibility to someone else for property damage, bodily injury, or net income loss net income loss -Correct Answer-re...

Which one of the following lists the covered causes of loss (basic, broad, or special); the deductible amount; and any optional coverages? a. Commercial property conditions b. Commercial property declarations c. Causes of loss forms d. Commercial property coverage forms - Answer-b. Commercial property declarations Which one of the following is covered under the Building and Personal Property Coverage form (BPP) as business personal property? a. Completed additions to a building b. Perma...

CIC Commercial Multi-line Exam Prep Questions Answers Distinguish between Covered Property and Property Not Covered under the Businessowners Coverage Form. - Answer ️️ Covered: Buildings: Includes PP of landlord (common areas, furnished) Covers Bridges, Retaining Walls, Wharves, Docks Replacement Cost BPP: Includes Property of Others (in CCC) Exterior Building Glass Replacement Cost Not Covered: Money/Securities Fences, radios, antennas, towers, signs (detached) plants Install...

CISR Insuring Commercial Property Exam 146 Questions with Answers Select the answer that most closely describes Actual Cash Value (ACV). - CORRECT ANSWER A method of establishing the value of property wherein depreciation and obsolescence are deducted from the value of the property. Select the answer that most closely describes Functional Replacement Cost. - CORRECT ANSWER A provision which changes the policy valuation so as to provide for replacement with a different structure which per...

CIC Commercial Property Exam Questions with Complete Solutions Learning Objective 1A - Rights and Duties of the first Named Insured - Answer️️ 1. Authorization to Cancel 2. Receive Cancellation 3. Make Changes with Insurer Consent 4. Responsible for Payment of Premium 5. Payee (Receiver) for Return Premium Learning Objective 1B - How does Coinsurance apply? - Answer️️ Amount Carried/Amount Required x Loss = Recovery-Deductible (Settlement) or "Did Have"/"Should Have" x Loss...

First named insureds rights and duties - Answer-1. Authorized to cancel 2. Receive notice of cancellation 3. Make changes with insurer consent 4. Responsible for payment of all premoums 5. Payee for return premoums Common policy dec info - Answer-1. Eff date 2. Named insured 3. Description of premises 4. Coverages provided (building, bpp, business income; limit of insurance; covered causes of loss-by item; coinsurance, rates) What is the coinsurance equation? - Answer-(Amount ...

RMIN 5100S exam 2 study guide 2024 with complete solution categories of commercial loss exposures property, personnel, liability, net income loss property loss - tangible: personal property, real estate -intangible: patent, copyright personnel loss death, disability, injury, retirement liability loss your responsibility to someone else for property damage, bodily injury, or net income loss net income loss reduction in income due to a direct loss commercial property loss exposures...

AINS Commercial Insurance (Accurate Solution With Questions & Answers) Professional liability and management liability policies can provide duty-to-defend coverage in the same manner as the typical commercial general liability policy. However, some professional liability policies provide defense costs reimbursement coverage requiring that the insurer do which one of the following? - ANS-Reimburse the insured for defense expense covered by the policy Which one of the following is a charac...