Coinsurance clause Study guides, Class notes & Summaries
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Pearson VUE: Property Insurance Practice Exam Questions and Answers (100%Verified).
- Exam (elaborations) • 29 pages • 2024
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Pearson VUE: Property Insurance Practice Exam Questions and Answers (100%Verified). 
1. S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent 
Coinsurance clause. To avoid a coinsurance penalty in the event of a partial 
loss, S should purchase a policy with minimum limits of AT LEAST which of 
the following amounts? 
A. $100,000 
B. $90,000 
 
C. $80,000 
D. $20,000: answer- C 
2. The MAXIMUM amount a p...
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State Farm Property (Actual) Exam Solved 100% Correct
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In property insurance actual cash value is defined as which of the following - ANSWER-Replacement cost at the time of the loss, less depreciation 
 
Peril is most easily defined as - ANSWER-the cause of loss insured against 
 
What is a leading factor in the determination of actual cash value - ANSWER-replacement cost 
 
Replacement cost is defined as - ANSWER-full replacement of property at its current cost, new and without reduction for depreciation 
 
Property insurance that provides 100k cov...
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Pearson VUE: Property Insurance Practice Exam Questions and Answers Rated A+
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Pearson VUE: Property Insurance 
Practice Exam Questions and Answers 
 
Rated A+ 
 
S is purchasing a Commercial Property policy to cover a commercial building with a 
replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a 
coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum 
limits of AT LEAST which of the following amounts? 
 
A. $100,000 
 
B. $90,000 
 
C. $80,000 
 
D. $20,000 C 
 
The MAXIMUM amount a policy wi...
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Pearson VUE: Property Insurance Practice Exam Questions and Answers (100%Verified).
- Exam (elaborations) • 29 pages • 2024
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Pearson VUE: Property Insurance Practice Exam Questions and Answers (100%Verified). 
1. S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent 
Coinsurance clause. To avoid a coinsurance penalty in the event of a partial 
loss, S should purchase a policy with minimum limits of AT LEAST which of 
the following amounts? 
A. $100,000 
B. $90,000 
 
C. $80,000 
D. $20,000: answer- C 
2. The MAXIMUM amount a p...
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National Real Estate Exam Questions and Answers 100% Pass
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National Real Estate Exam Questions 
 
and Answers 100% Pass 
 
1. Efforts to increase homeownership include all the following EXCEPT 
A) requiring lower down payments. 
B) penalizing first-time homebuyers for using funds from IRA's. 
C) requiring loan applicants to have better credit. 
D) lowering closing costs for first-time home buyers. C) requiring loan applicants to have 
better credit. 
 
The real cost of owning a home includes certain costs/expenses that many people 
overlook. Which of t...
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CISR Insuring Commerical Property Questions With Correct Answers!!
- Exam (elaborations) • 22 pages • 2023
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Select the answer that most closely describes Actual Cash Value (ACV). - 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. - A provision which 
changes the policy valuation so as to provide for replacement with a different structure which performs 
the same service or function, but is less costly. 
Which of the following statements best def...
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Florida Claims Adjuster Exam 2023 , 6-20 All Lines Adjuster- Florida- Review
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Florida Claims Adjuster Exam 2023 
 
1.	Peril: Something that causes a loss. 
 
2.	Hazard: Something that increases the probability that a loss will occur. 
 
 
 
 
3.	Warranty: A policy condition, either based on information in the i nsureds appli- cation or inserted by the insurer. It is a guarantee of a fact. 
 
4.	Misrepresentation: An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. 
 
 
 
5.	Concealment: Th...
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Pearson VUE: Property Insurance Practice Exam Questions with 100% Correct Answers | Updated & Verified | 2024
- Exam (elaborations) • 24 pages • 2024
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S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of 
$100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the 
event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the 
following amounts? 
A. $100,000 
B. $90,000 
C. $80,000 
D. $20,000 C 
The MAXIMUM amount a policy will pay in the event of a loss is called the: 
A. coinsurance amount 
B. deductible 
C. limit o...
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TEST FOR ADJUSTER PRO, FLORIDA STUDY(QUESTIONS AND ANSWERS)A+ GRADED EXAM 2023-2024
- Exam (elaborations) • 98 pages • 2023
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TEST FOR ADJUSTER PRO, FLORIDA 
STUDY(QUESTIONS AND ANSWERS)A+ 
GRADED EXAM 2023-2024 
- CORRECT ANSWER-Subtract the deductible from covered damages to get 
indemnification 
- CORRECT ANSWER-6 unique characteristics of insurance policy 
1 Contracts of adhesion (court ez win) 
2 Utmost good faith 
3 aleatory 
4 personal 
5 Unilateral (only insurer has obligation) 
6 Conditional 
- CORRECT ANSWER-1945 regulate insurance 
Naic doesn't give benefits to comissioners 
90 day to pay 
hijacking on...
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RIBO – General Exam Questions Latest Version 2024/2025 Expert-Verified Q&As
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"Offer" and "acceptance" is best described as being: - Unconditional-communicated-same mannerwithin time limit 
A broker/agent is responsible for what? - Writing only those classes of business acceptable to 
his/her insurer. 
A building owned by A is sold for cash to B. Two days after the sale, a fire destroys the building causing a 
loss of $100,000. Neither the broker nor the insurer was notified of the change in ownership. The 
insurer would pay: - Nothing. (when you sell your house, you ...
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