Which one (1) of the following kinds of loss or damage is covered under the Condominium Unit Owners ComprehensivePolicy?OA) Vandalism or malicious acts or glass breakage occurring while the unit is vacant.OB) Migratory birds flying into and breaking picture windows in a unit.OC) Smoke from agricultural smudging or industrial operations.OD) Repeated seepage from an air conditioning system. What is the Actual Cash Value of an item?OA) It is the cost to replace it with similar, new item.OB) It is the amount it would sell for on the date of loss.OC) It is the cost to replace it with a similar item in similar condition.OD) It is the cost when first bought by the insured.

A Condominium Unit Owners Comprehensive Policy is an insurance policy bought by all units to protect…

Answered: Which one (1) of the following kinds of…

Pkg Acc Infor Systems MS VISIO CD

10th Edition

ISBN:9781133935940

Author:Ulric J. Gelinas

Publisher:Ulric J. Gelinas

Chapter8: Controlling Information Systems: Introduction To Pervasive Controls

Section: Chapter Questions

Problem 33RQ

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Which one of the following statements is correct with respect to the Building and Personal Property Coverage Form's (BPP) coverage for personal property of others? The BPP specifically excludes coverage for businesses (bailees) that have customers' property in their custody, such as laundries, dry cleaners, appliance repair shops, and furniture upholstery shops. Coverage protects the insured while the property is in or on the building described in the declarations or within 100 feet of either the building or structure, whichever is greater. The BPP covers personal property of others while it is located anywhere in the world. Coverage for personal property of others applies only if the insured is legally responsible for the damage.
Substandard Housing is property in violation of the California state or local health and safety codes as determined by city or county regulatory agencies. Which of the following is true regarding deductions for expenses for substandard property? A. Deductions for expenses for substandard property are allowed B. When the property is noncompliant for part of a year, the Franchise Tax Board (FTB) disallows the deductions for the entire year C. Deductions are allowed for a property only after the regulatory agency re-inspects the property and issues a Notice of Compliance D. Deductions are allowed for a substandard property after repairs are complete
which of the following perils is excluded under a homeowner's policy lightning Civil Contamination contamination Smoke
Regarding accountant's liability, the courts have held accountants liable for their financial statements to which of the following: (multiple answers possible. However marking all will result in an incorrect score.) a. client b. bankers of the client c. future investors in the business of the client d. creditors of the client e. third party vendors that might supply client
In the context of home insurance coverage, it is correct to say that: * If damage from a fire or other event prevents the use of our home, the personal property coverage pays the cost of living in a temporary location while our home is being repaired. The main component of homeowner's insurance is protection against financial loss due to damage or destruction to a house or other structures. The additional living expenses coverage is related to the coverage of our household belongings, such as furnitire, appliances, and clothing. None of the other asnwers is correct.
Which one (1) of the following statements most accurately describes a special feature of the Condominium Unit Owners Comprehensive Policy?•It provides additional coverage for damage to the owned condominium unit if the Condominium Corporation's insurance is inadequate or is not effective.•It provides additional insurance protection for the Condominium Corporation in the event of an uninsured loss.•It amends the Tenants Comprehensive policy to include that which is usual to a condominium.•It adds the condominium corporation as an additional named insured with respect to liability coverage.
Repairing a leaky roof after a hail storm is an example of maintenance. O routine O custodial O corrective O preventive
If the owners of building insured under commercial general liability policy purchase another building in the same risk class, how soon will coverage on the second building go into effect? Immediately after the closing of the purchase of the second building When the owners notify their insurance producer of the purchase When the owners notify their insurance company of the purchase When the owners pay the required additional premium
Property insurance will not cover damage to your home caused by a hail storm. True or False
All of the following occurrences are covered through the National Flood Insurance Program EXCEPT: Select one: a. Runoff from heavy rain. b. Water damage to a home built below the ground. c. Water damage due to the rising waters of a river. d. Mud slides.
What type of property insurance would cover injury to a repairperson on your property? A. Additional living expenses coverage B. Damage to home or property insurance cover C. Personal liability coverage
Homeowners insurance covers all of the following, EXCEPT: a) Flood b) Fire c) Damage caused by aircraft d) Accidental discharge of water from plumbing

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