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Exam (elaborations)

CISR - Commercial Property Questions with Correct Answers 2025

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CISR - Commercial Property Questions with Correct Answers 2025

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Institution
CISR
Module
CISR

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Uploaded on
May 23, 2025
Number of pages
2
Written in
2024/2025
Type
Exam (elaborations)
Contains
Questions & answers

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  • cisr commercial property questions with correct

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CISR - Commercial Property Questions
with Correct Answers 2025
IdentifyGtheGtypesGofGCommercialGPropertyGexposedGtoGloss:G-GCORRECTGANSWERG-
RealG&GPersonal



ListGpartiesGthatGcouldGhaveGanGinsurableGinterestGinGtheGproperty:G-GCORRECTGANSWERG-
Owners,GMortgage,GLessees,GSignersGofGaGContract



WhatGisGtheGdifferenceGbetweenGdirectGandGindirectGloss?G-GCORRECTGANSWERG-
Direct:GDamageGtoGTangibleGPropertyG/GIndirect:GLossGofGIncome/ExtraGExpense



DefineGACVG-GCORRECTGANSWERG-ReplacementGcostGminusGdepreciation



DefineGReplacementGCostG-GCORRECTGANSWERG-
AmountGneededGtoGreplaceGwithGlikeGkindGandGquality



DefineGFunctionalGReplacementGValueG-GCORRECTGANSWERG-LikeGkind/qualityGnotGfeasibleG-
GlimitGneededGtoGserveGtheGsameGpurpose




CoinsuranceGFormulaG-GCORRECTGANSWERG-did/shouldGxGlossG=GlossGpaymentG-Gdeductible



HowGdoGyouGfindG"should"GinGcoinsuranceGformula?G-GCORRECTGANSWERG-
shouldG=GlimitGxGcoinsuranceG%



DefineGagreedGvalueG-GCORRECTGANSWERG-UpGfrontGagreementGonGaGfixedGvalueG-
GsuspendsGcoinsuranceGifGconditionsGareGmet
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