AIC 304 Study Questions With VERIFIED Answers Latest Update 2025

AIC 304 Study Questions With VERIFIED Answers Latest Update 2025 The insurance-to-value provision often found in homeowners policies applies only to - Correct Answer A. Property insured under Coverage A--Dwelling. B. Personal property. C. Property insured under Coverage A--Dwelling and Coverage B--Other Structures. D. Property insured under Coverage B--Other Structures C Benjamin is a claims representative handling a merchandise loss. He needs someone to prepare an inventory of the damaged goods, verify their value, preserve damaged items, locate the best market for salvageable items, and oversee the sale. Benjamin should hire a(n) - Correct Answer A. Wholesaler. B. Salvor. C. Public adjuster. D. Junk dealer. B Philip is a claims representative for Goshen Insurance. He is working on a motor truck cargo (MTC) liability claim and is trying to determine if the entity facing legal liability for the cargo loss is an insured under the MTC policy. In addition to the blanket MTC policy, Philip will need to review which one of the following? - Correct Answer A. The schedule of vehicles B. The insured's trip transit policy C. The schedule of terminals D. The carrier section of the bill of lading D Brenda and Tyrone are homeowners with a monthly mortgage of $1,200. Their home sustains damage from a fire, and restoration is expected to take several months to complete. They rent an apartment with a monthly rent of $1,500 to