RMIN 5100S LATEST 2026 EXAM QUESTIONS AND
ANSWERS RATED A+
✔✔Considering animals and fragile articles, what are examples of situations in which
they would be covered? When would they not be covered? - ✔✔Covered: if caused by
specified cause of loss
Not covered: if not caused by specified cause of loss (fire, lightning, wind, etc) -> pet
store would not be covered for an animal that dies naturally
✔✔Theft-related exclusions in special forms - ✔✔Dishonest/criminal acts by insured,
partners, members, employees, etc
Voluntary surrendering of property as result of fraud/trickery
Property transferred away from premises on the basis of unauthorized instructions
Theft of construction materials
Inventory shortages/unexplained disappearance
Special limits for theft of furs, jewelry, precious metals, stamps, tickets, etc
✔✔special form - additional coverages & coverage extensions - ✔✔"Fungus" (also
included in basic and broad)
Collapse (also included in broad)
Property in transit - up to $5000 for property in a vehicle operated and owned/leased by
an insured (named perils coverage)
Water damage, other liquids, powder or molten material damage - covers cost to tear
out and replace part of a building in order to repair appliances/system/pipe in which
water/liquid is escaping from
✔✔chapter 2 reminders - ✔✔At least one of the COL forms must be added to the
Building and Personal Property (BPP) coverage form
The COL forms show what perils are covered
The BPP shows what property is covered
Commercial property coverage part
CP declaration
CP coverage form (BPP)
CP COL form (basic, broad, special)
CP conditions
✔✔limits of insurance - ✔✔BPP states that "the most we will pay for loss or damage in
any one occurrence is the applicable Limit of Insurance in the Declarations"
Limits apply separately to each occurrence, but occurrence is not defined
, Recall that payments under all Coverage Extensions and most Additional Coverages
are paid in addition to the limit of insurance
Policy may include specific/scheduled limits (individual limits for building $100,000,
business personal property $50,000, personal property of others $10,000) or blanket
limit ($160,000 blanket on the building, business personal property, and personal
property of others)
✔✔specific vs blanket limits - ✔✔If specific limits, the limits are displayed on the
Declarations
If blanket limits, the limit is the total of all limits
Blanket limits can increase the amount of debris removal paid (25% of total coverage)
You can have blanket limits for the building and for the building personal property
example
✔✔deductibles - ✔✔The insurer is not obligated to pay losses less than the deductible
The deductible is applied once per occurrence (policy period)
The deductible is subtracted from the loss (not the Limit of Insurance) when determining
the amount payable
When specific limits of insurance apply (not blanket), the losses cannot be combined in
applying the deductible
Coinsurance is applied prior to the deductible
✔✔BPP loss conditions - ✔✔abandonment
appraisal
duties in the event of loss or damage
✔✔abandonment - ✔✔prohibits the insured from abandoning damaged property to the
insurer for disposal (repair/disposal is responsibility of insured)
✔✔appraisal - ✔✔establishes a method to resolve disputes about the amount of loss
(does not apply to disputes about coverage)
✔✔duties in the event of loss or damage: - ✔✔Notify police if loss results from violation
of law (vandalism, theft, etc)
Promptly notify the insurer of a loss
ANSWERS RATED A+
✔✔Considering animals and fragile articles, what are examples of situations in which
they would be covered? When would they not be covered? - ✔✔Covered: if caused by
specified cause of loss
Not covered: if not caused by specified cause of loss (fire, lightning, wind, etc) -> pet
store would not be covered for an animal that dies naturally
✔✔Theft-related exclusions in special forms - ✔✔Dishonest/criminal acts by insured,
partners, members, employees, etc
Voluntary surrendering of property as result of fraud/trickery
Property transferred away from premises on the basis of unauthorized instructions
Theft of construction materials
Inventory shortages/unexplained disappearance
Special limits for theft of furs, jewelry, precious metals, stamps, tickets, etc
✔✔special form - additional coverages & coverage extensions - ✔✔"Fungus" (also
included in basic and broad)
Collapse (also included in broad)
Property in transit - up to $5000 for property in a vehicle operated and owned/leased by
an insured (named perils coverage)
Water damage, other liquids, powder or molten material damage - covers cost to tear
out and replace part of a building in order to repair appliances/system/pipe in which
water/liquid is escaping from
✔✔chapter 2 reminders - ✔✔At least one of the COL forms must be added to the
Building and Personal Property (BPP) coverage form
The COL forms show what perils are covered
The BPP shows what property is covered
Commercial property coverage part
CP declaration
CP coverage form (BPP)
CP COL form (basic, broad, special)
CP conditions
✔✔limits of insurance - ✔✔BPP states that "the most we will pay for loss or damage in
any one occurrence is the applicable Limit of Insurance in the Declarations"
Limits apply separately to each occurrence, but occurrence is not defined
, Recall that payments under all Coverage Extensions and most Additional Coverages
are paid in addition to the limit of insurance
Policy may include specific/scheduled limits (individual limits for building $100,000,
business personal property $50,000, personal property of others $10,000) or blanket
limit ($160,000 blanket on the building, business personal property, and personal
property of others)
✔✔specific vs blanket limits - ✔✔If specific limits, the limits are displayed on the
Declarations
If blanket limits, the limit is the total of all limits
Blanket limits can increase the amount of debris removal paid (25% of total coverage)
You can have blanket limits for the building and for the building personal property
example
✔✔deductibles - ✔✔The insurer is not obligated to pay losses less than the deductible
The deductible is applied once per occurrence (policy period)
The deductible is subtracted from the loss (not the Limit of Insurance) when determining
the amount payable
When specific limits of insurance apply (not blanket), the losses cannot be combined in
applying the deductible
Coinsurance is applied prior to the deductible
✔✔BPP loss conditions - ✔✔abandonment
appraisal
duties in the event of loss or damage
✔✔abandonment - ✔✔prohibits the insured from abandoning damaged property to the
insurer for disposal (repair/disposal is responsibility of insured)
✔✔appraisal - ✔✔establishes a method to resolve disputes about the amount of loss
(does not apply to disputes about coverage)
✔✔duties in the event of loss or damage: - ✔✔Notify police if loss results from violation
of law (vandalism, theft, etc)
Promptly notify the insurer of a loss
