CAIB 1 CH5 Question and answers rated A+ 2024

CAIB 1 CH5 Question and answers rated A+ 2024 Your clients accepted your recommendation to insure their dwelling on a guaranteed replacement cost basis. They also instructed you to add replacement cost coverage on all outbuildings on their premises. Indicate whether the following buildings would be eligible for replacement cost coverage. State Yes/No portable steel granaries having wood floors. Age: 2 years - correct answer No Your clients accepted your recommendation to insure their dwelling on a guaranteed replacement cost basis. They also instructed you to add replacement cost coverage on all outbuildings on their premises. Indicate whether the following buildings would be eligible for replacement cost coverage. State Yes/No farm machinery storage shed constructed of metal; concrete foundation. Age: new - correct answer Yes Your clients accepted your recommendation to insure their dwelling on a guaranteed replacement cost basis. They also instructed you to add replacement cost coverage on all outbuildings on their premises. Indicate whether the following buildings would be eligible for replacement cost coverage. State Yes/No farm workshop constructed of frame; concrete foundation. Age: 20 years - correct answer No Your clients accepted your recommendation to insure their dwelling on a guaranteed replacement cost basis. They also instructed you to add replacement cost coverage on all outbuildings on their premises. Indicate whether the following buildings would be eligible for replacement cost coverage. State Yes/No wood granaries on concrete foundation. Age: 5-25 years - correct answer Yes - all granaries less