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Your insured resides in a frame dwelling. A local by-law requires that if the dwelling is totally destroyed, it must be rebuilt with masonry construction. Would special attention be required for your insured's Homeowners policy? OA) No, the Homeowners policy automatically provides for increased costs stipulated in a by-law. OB) Yes, the appropriate by-laws endorsement must be added and the amount of insurance must be increased to cover the cost of masonry construction. OC) Yes, the appropriate by-laws endorsements must be added to the policy. OD) Yes, a Replacement Cost endorsement must be added to the policy. Your insured's young son has just purchased an automobile and wants you to insure it in his father's name and show himself as an occasional driver. Which one (1) of the following steps should you take? OA) Issue the policy as requested. OB) Decline to issue the policy as the son is obviously the principal driver and registered owner. OC) Place the policy with another insurer and rate the father as the principal driver. OD) Advise the son to register the vehicle in his mother's name and rate it on her driving record.

Your insured resides in a frame dwelling. A local by-law requires that if the dwelling is totally destroyed, it must be rebuilt with masonry construction. Would special attention be required for your insured's Homeowners policy? OA) No, the Homeowners policy automatically provides for increased costs stipulated in a by-law. OB) Yes, the appropriate by-laws endorsement must be added and the amount of insurance must be increased to cover the cost of masonry construction. OC) Yes, the appropriate by-laws endorsements must be added to the policy. OD) Yes, a Replacement Cost endorsement must be added to the policy. Your insured's young son has just purchased an automobile and wants you to insure it in his father's name and show himself as an occasional driver. Which one (1) of the following steps should you take? OA) Issue the policy as requested. OB) Decline to issue the policy as the son is obviously the principal driver and registered owner. OC) Place the policy with another insurer and rate the father as the principal driver. OD) Advise the son to register the vehicle in his mother's name and rate it on her driving record.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Your insured resides in a frame dwelling. A local by-law requires that if the dwelling is totally destroyed, it must be rebuilt with masonry construction. Would special attention be required for your insured's Homeowners policy? OA) No, the Homeowners policy automatically provides for increased costs stipulated in a by-law. OB) Yes, the appropriate by-laws endorsement must be added and the amount of insurance must be increased to cover the cost of masonry construction. OC) Yes, the appropriate by-laws endorsements must be added to the policy. OD) Yes, a Replacement Cost endorsement must be added to the policy.
Transcribed Image Text:Your insured resides in a frame dwelling. A local by-law requires that if the dwelling is totally destroyed, it must be rebuilt with masonry construction. Would special attention be required for your insured's Homeowners policy? OA) No, the Homeowners policy automatically provides for increased costs stipulated in a by-law. OB) Yes, the appropriate by-laws endorsement must be added and the amount of insurance must be increased to cover the cost of masonry construction. OC) Yes, the appropriate by-laws endorsements must be added to the policy. OD) Yes, a Replacement Cost endorsement must be added to the policy.
Your insured's young son has just purchased an automobile and wants you to insure it in his father's name and show himself as an occasional driver. Which one (1) of the following steps should you take? OA) Issue the policy as requested. OB) Decline to issue the policy as the son is obviously the principal driver and registered owner. OC) Place the policy with another insurer and rate the father as the principal driver. OD) Advise the son to register the vehicle in his mother's name and rate it on her driving record.
Transcribed Image Text:Your insured's young son has just purchased an automobile and wants you to insure it in his father's name and show himself as an occasional driver. Which one (1) of the following steps should you take? OA) Issue the policy as requested. OB) Decline to issue the policy as the son is obviously the principal driver and registered owner. OC) Place the policy with another insurer and rate the father as the principal driver. OD) Advise the son to register the vehicle in his mother's name and rate it on her driving record.
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