CAIB 1 Practice Exam (Multiple Choice) Questions and Answers 100% Pass

CAIB 1 Practice Exam (Multiple Choice) Questions and Answers 100% Pass All of the following factors except one are used to determine the ACV of insured property. Pick the exception. A - condition of the object. B - sentimental value. C - re-sale value. D - normal life expectancy - Answer- B - sentimental value. The Indemnity Agreement in property insurance policies states that in the event of a loss, the insurer will pay the lesser of three amounts in the event of a claim. One factor which does not enter into this calculation is A - the actual cash value of the property B - the original cost of the property C - the insured's interest in the property D - the policy limit - Answer- B - the original cost of the property Under the various Homeowners Forms available today which of the following is not an "insured"?