Examen
Caib 2 - Commercial Property Questions And Answers With Verified Solutions 100% Correct!!!
- Cours
- Établissement
Caib 2 - Commercial Property Questions And Answers With Verified Solutions 100% Correct!!!
[Montrer plus]
Aperçu du contenu
Caib 2 - Commercial Property QuestionsAnd Answers With Verified Solutions
100% Correct!!!
What are 2 examples of temporary locations where property maybe located and
insured by temporary location coverage? - ANSWER✔✔1) When at customers
premises on a pre-sale trial basis
2) When at warehouse awaiting pickup by client
What are 3 coverages found in EDP Policies? - ANSWER✔✔1) Loss to data
processing systems and components (hardware)
2) Loss to data processing media and programs (software)
3) Extra Expenses
What are 2 key coverage advantages provided by section I of EDP Policies? -
ANSWER✔✔1) Broad water losses
2) Mechanical & Electrical breakdown
List 5 causes of mechanical and electrical breakdown insured by EDP Policies? -
ANSWER✔✔1) Error in machine programing
2) Processing
3) Short Circuit
4) Dampness or dryness or atmosphere
5) Extremes of temperature
What limit of coverage is available to insure Valuable Papers & Records while off
premises? - ANSWER✔✔10% of amount of insurance or $5000, whichever is less
,What type of electrical disturbance is insured by Valuable Papers & Records while
off premises? - ANSWER✔✔when it is caused by lightning
What 2 factors influence premiums to be charged on both Accounts Receivable
and Valuable Papers & Records coverage - ANSWER✔✔1) Availability of
duplicates
2) Quality of described receptacle
When can coverages be extended to insure Valuable Papers & Records while off
premises (2) - ANSWER✔✔1) When being transported outside premises
2) When at other premises on a temporary basis
What are 4 coverages provided by accounts receivable form and provide an
example of each - ANSWER✔✔1) Amounts which cannot be collected due to loss
of accounts receivable records (Ex: client doesn't remember entire list of customers
who owe)
2) Interest on loans your client needs to pay current liabilities (Ex: supplier must be
paid prior to settlement)
3) Extra costs in collection of accounts receivable (Ex: paying a collection
agencies or overtime to staff trying to collect accounts)
4) Expenses incurred in the reconstruction of records (Ex: hiring an accountant to
reconstruct AR list)
What are 4 coverages automatically included in commercial package policies -
ANSWER✔✔1) Property Insurance
2) Business Interruption
3) Liability Insurance
, 4) Crime Insurance
What are 5 considerations that may result in lower premiums - ANSWER✔✔1)
Building constructed after 1945
2) Sprinklered
3) Alarmed
4) Sole Occupant
5) Increased deductible
List 3 provisions found in the extension for personal property of officers and
employees - ANSWER✔✔1) Only applicable when the employee (The owner)
does not have the property insured or when the client is liable
2) coverage is limited to $250/employee or director
3)coverage applies at described location or any newly acquired location
Identify 2 crime coverages provided by building damage by theft extension -
ANSWER✔✔1) Theft or attempt thereat
2) Vandalism or malicious acts happening during same occurrence
What Perils are insured by commercial Broad form policies - ANSWER✔✔All
risk of direct physical loss or damage subject to policy conditions and exclusions
Identify 6 advantages of the broad form - ANSWER✔✔1) theft losses to stock &
equipment is insured
2) water damage from rupture of overhead water lines
3) impact of vehicles operated by insured or employees is covered
4) many types of collapse
Les avantages d'acheter des résumés chez Stuvia:
Qualité garantie par les avis des clients
Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.
L’achat facile et rapide
Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.
Focus sur l’essentiel
Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.
Foire aux questions
Qu'est-ce que j'obtiens en achetant ce document ?
Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.
Garantie de remboursement : comment ça marche ?
Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.
Auprès de qui est-ce que j'achète ce résumé ?
Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur classhub. Stuvia facilite les paiements au vendeur.
Est-ce que j'aurai un abonnement?
Non, vous n'achetez ce résumé que pour $11.99. Vous n'êtes lié à rien après votre achat.
Peut-on faire confiance à Stuvia ?
4.6 étoiles sur Google & Trustpilot (+1000 avis)
80461 résumés ont été vendus ces 30 derniers jours
Fondée en 2010, la référence pour acheter des résumés depuis déjà 14 ans
