an HO-3 form covers damage to a home caused by which of the following? a. Fuel oil spillage b. termites c. Breakdown of mechanical equipment d. flood

A horse jumps through the window of an insured’s house and damages interior and exterior walls. Which of the following forms will provide coverage for the loss? HO-1 form HO-2 form HO-3 form Ho-4 form

A comprehensive general liability policy includes property damage coverage for which of the following incidents? An insured intentionally causes a fire that burns down the building in which he is the sole tenant. An insured personal property on the premises destroyed by a fire An insured repair a boiler for a dry cleaner that explodes and causes extensive damage to the building An insured leases a computer that is subsequently damaged by an employee.

1. Homeowners 3 (Special Form) is an all-risks policy that insures the dwelling and other structures against risk of direct physical loss to property. True False

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

when determining the value of a building for insurance purposes which of these is not a consideration? A. The Economy B. Physical Condition C. Average Vaule of homes on the same block D. Sqaure Footage

Exterior and interior painting would be classified as O a. asset improvements O b. ordinary maintenance and repairs O c. extraordinary repairs O d. none of these choices

A land development company that wants to protect itself against bodily injury liability claims resulting from accidents that might occur on its vacant land should purchase which of the following types of insurance? Comprehensive personal liability Commercial general liability Personal Injury liability Contractual liability

Describe an operating loss carryforward. List the two Conceptual questions concerning accounting for a carryforward.

. A __________  __________ is a part of a fire insurance policy that requires the policyholder to purchase coverage at least equal to a specified percentage of the replacement cost of the property to obtain full reimbursement for losses.