AINS 23 Practice Test
BPP - Insuring Agreement is an element contained in the - Answer-commercial property coverage form
BPP - Covered Cause of Loss is an element contained in the - Answer-commercial property declarations
page
BPP - Newly Acquired or Constructed Property extension states a ________ amount of coverage that
applies to each building - Answer-maximum
BPP - Storage units coverage extension provides - Answer-temporary protection for BPP wile stored in a
portable storage unit
BPP - Rust & Decay is an exclusion unique to the - Answer-special form
BPP - Weight of Ice is covered by the ____ form but not by the ____ form - Answer-special basic
In regard to theft, the special form BPP... - Answer-covers any theft of covered prop not specifically
excluded
, BPP - Recovered Property condition... - Answer-insured can take the recovered property and return the
loss payment to the insurer
BPP - Buildings under construction - are they considered vacant? - Answer-no
BPP - The Loss Payment Condition states... - Answer-that the insurer will pay no more than the insured's
financial interest in the property
BPP - Mortgageholder Condition fact... - Answer-in most cases, the loss payment is used to repair the
damages and the mortgage continues in force as before
BPP - Replacement Cost Optional time limit that an insured must notify the insurer of a loss that will be
paid on a replacement cost basis? - Answer-180 days
BPP - How is the amount of loss calculated under the extension of Personal Property of Others? -
Answer-written agreement between the property owner and the insured
BPP - What Common Property Condition permits the insurer to verify property values necessary for
rating premiums? - Answer-examination of books and records
BPP - The EQ and Volcanic Eruption endorsement includes coverage for... - Answer-the full policy limit
BPP - The EQ and Volcanic Eruption (sub-limit form) endorsement includes coverage form contains a
COINS? T/F - Answer-false
BPP - the EQ and Volcanic Eruption endorsement contains a COINS clause? T/F - Answer-true
BPP - Commercial Property losses DO OR DO NOT increase proportionately with the value of the insured
property? - Answer-do not
BPP - Insuring Agreement is an element contained in the - Answer-commercial property coverage form
BPP - Covered Cause of Loss is an element contained in the - Answer-commercial property declarations
page
BPP - Newly Acquired or Constructed Property extension states a ________ amount of coverage that
applies to each building - Answer-maximum
BPP - Storage units coverage extension provides - Answer-temporary protection for BPP wile stored in a
portable storage unit
BPP - Rust & Decay is an exclusion unique to the - Answer-special form
BPP - Weight of Ice is covered by the ____ form but not by the ____ form - Answer-special basic
In regard to theft, the special form BPP... - Answer-covers any theft of covered prop not specifically
excluded
, BPP - Recovered Property condition... - Answer-insured can take the recovered property and return the
loss payment to the insurer
BPP - Buildings under construction - are they considered vacant? - Answer-no
BPP - The Loss Payment Condition states... - Answer-that the insurer will pay no more than the insured's
financial interest in the property
BPP - Mortgageholder Condition fact... - Answer-in most cases, the loss payment is used to repair the
damages and the mortgage continues in force as before
BPP - Replacement Cost Optional time limit that an insured must notify the insurer of a loss that will be
paid on a replacement cost basis? - Answer-180 days
BPP - How is the amount of loss calculated under the extension of Personal Property of Others? -
Answer-written agreement between the property owner and the insured
BPP - What Common Property Condition permits the insurer to verify property values necessary for
rating premiums? - Answer-examination of books and records
BPP - The EQ and Volcanic Eruption endorsement includes coverage for... - Answer-the full policy limit
BPP - The EQ and Volcanic Eruption (sub-limit form) endorsement includes coverage form contains a
COINS? T/F - Answer-false
BPP - the EQ and Volcanic Eruption endorsement contains a COINS clause? T/F - Answer-true
BPP - Commercial Property losses DO OR DO NOT increase proportionately with the value of the insured
property? - Answer-do not
