Nima called her Broker to advise them that her house is for sale and that Realtors will be coming through. She wants to know if there are any repercussions for not having her alarm activated overnight. Aside from dealing with the issue of the alarm and Nima's policy, is there anything else that is relevant for her Broker to ask? OA) What did her realtor assess her home value to be? OB) Is Nima's home currently vacant? OC) Has Nima advised her Monitoring Company that the alarm will be deactivated? OD) Will Nima be disclosing her previous claims to the new homeowner? Your insured lives in an apartment but takes a temporary position in another city and must store some major furniture items in a storage warehouse until he/she returns. In the interim the unfurnished apartment is sublet to a friend. Subsequently, the warehouse is broken into and some of your insured's furniture is stolen. What would a Tenants Comprehensive policy pay? OA) The actual cash value or replacement cost of the property stolen less the policy deductible, subject to the 10% limitation on property temporarily removed. OB) Nothing. The loss is not covered. OC) The actual cash value or replacement cost of all the personal property stolen, less the policy deductible, subject to the policy limit. OD) That proportion of the loss which the value of the property at the warehouse bears to the total value of all of his/her personal property.
Nima called her Broker to advise them that her house is for sale and that Realtors will be coming through. She wants to know if there are any repercussions for not having her alarm activated overnight. Aside from dealing with the issue of the alarm and Nima's policy, is there anything else that is relevant for her Broker to ask? OA) What did her realtor assess her home value to be? OB) Is Nima's home currently vacant? OC) Has Nima advised her Monitoring Company that the alarm will be deactivated? OD) Will Nima be disclosing her previous claims to the new homeowner? Your insured lives in an apartment but takes a temporary position in another city and must store some major furniture items in a storage warehouse until he/she returns. In the interim the unfurnished apartment is sublet to a friend. Subsequently, the warehouse is broken into and some of your insured's furniture is stolen. What would a Tenants Comprehensive policy pay? OA) The actual cash value or replacement cost of the property stolen less the policy deductible, subject to the 10% limitation on property temporarily removed. OB) Nothing. The loss is not covered. OC) The actual cash value or replacement cost of all the personal property stolen, less the policy deductible, subject to the policy limit. OD) That proportion of the loss which the value of the property at the warehouse bears to the total value of all of his/her personal property.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:Nima called her Broker to advise them that her house is for sale and that Realtors will be coming through. She wants to
know if there are any repercussions for not having her alarm activated overnight. Aside from dealing with the issue of
the alarm and Nima's policy, is there anything else that is relevant for her Broker to ask?
OA) What did her realtor assess her home value to be?
OB) Is Nima's home currently vacant?
OC) Has Nima advised her Monitoring Company that the alarm will be deactivated?
OD) Will Nima be disclosing her previous claims to the new homeowner?
Transcribed Image Text:Your insured lives in an apartment but takes a temporary position in another city and must store some major furniture
items in a storage warehouse until he/she returns. In the interim the unfurnished apartment is sublet to a friend.
Subsequently, the warehouse is broken into and some of your insured's furniture is stolen. What would a Tenants
Comprehensive policy pay?
OA) The actual cash value or replacement cost of the property stolen less the policy deductible, subject to the 10%
limitation on property temporarily removed.
OB) Nothing. The loss is not covered.
OC) The actual cash value or replacement cost of all the personal property stolen, less the policy deductible,
subject to the policy limit.
OD) That proportion of the loss which the value of the property at the warehouse bears to the total value of all of
his/her personal property.
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