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CISR - Commercial Property Questions with Correct Answers 2025

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Course CISR - Commercial Property
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CISR - Commercial Property Questions with Correct Answers 2025

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CISR - Commercial Property Questions
with Correct Answers 2025
Identify the types of Commercial Property exposed to loss: - CORRECT ANSWER -
Real & Personal



List parties that could have an insurable interest in the property: - CORRECT ANSWER -
Owners, Mortgage, Lessees, Signers of a Contract



What is the difference between direct and indirect loss? - CORRECT ANSWER -
Direct: Damage to Tangible Property / Indirect: Loss of Income/Extra Expense



Define ACV - CORRECT ANSWER -Replacement cost minus depreciation



Define Replacement Cost - CORRECT ANSWER -
Amount needed to replace with like kind and quality



Define Functional Replacement Value - CORRECT ANSWER -Like kind/quality not feasible -
limit needed to serve the same purpose



Coinsurance Formula - CORRECT ANSWER -did/should x loss = loss payment - deductible



How do you find "should" in coinsurance formula? - CORRECT ANSWER -
should = limit x coinsurance %



Define agreed value - CORRECT ANSWER -Up front agreement on a fixed value -
suspends coinsurance if conditions are met

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