Exam (elaborations)
Pearson VUE: Property Insurance Practice Exam questions with correct answers
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S is purchasing a Commercial Property policy to cover a commercial building with a replacement cost of $100,000. The policy includes an 80 percent Coinsurance clause. To avoid a coinsurance penalty in the event of a partial loss, S should purchase a policy with minimum limits of AT LEAST which of the following amounts? A. $100,000 B. $90,000 C. $80,000 D. $20,000 CORRECT ANSWER C The MAXIMUM amount a policy will pay in the event of a loss is called the: A. coinsurance amount B. deductible C. limit of liability D. pro rata return CORRECT ANSWER C
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Institution
Property And Casualty Insurance
Module
Property and Casualty Insurance
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Written for
- Institution
- Property and Casualty Insurance
- Module
- Property and Casualty Insurance
Document information
- Uploaded on
- October 19, 2023
- Number of pages
- 65
- Written in
- 2023/2024
- Type
- Exam (elaborations)
- Contains
- Questions & answers
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