UGA RMIN 5100S - Exam 2 (Brown) questions with answers

UGA RMIN 5100S - Exam 2 (Brown)
|\ |\ |\ |\ |\ |\ |\




questions with answers |\ |\




Specific limits separate the individual limits by BLANK & BLANK -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



CORRECT ANSWERS ✔✔location; type
|\ |\ |\




Blanket limits can be applied by BLANK, "BLANK category", or in
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



BLANK - CORRECT ANSWERS ✔✔location
|\ |\ |\ |\ |\




(building + personal property);
|\ |\ |\




coverage category |\ |\




(building A + building b);
|\ |\ |\ |\




total


Insurer is not obligated to pay for losses that are less than the
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



BLANK amount - CORRECT ANSWERS ✔✔deductible
|\ |\ |\ |\ |\




Deductibles are subtracted from the BLANK when determining the
|\ |\ |\ |\ |\ |\ |\ |\ |\



amount payable - CORRECT ANSWERS ✔✔loss
|\ |\ |\ |\ |\

, While deductibles are applied BLANK per occurrence, losses in
|\ |\ |\ |\ |\ |\ |\ |\ |\



different categories (location & type) cannot be combined first to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



meet the deductible in BLANK limits - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\



✔✔once; specific |\




BLANK is applied prior to the deductible - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



✔✔coinsurance


In a BLANK limit, building losses can be combined first before
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



applying the deductible - CORRECT ANSWERS ✔✔blanket
|\ |\ |\ |\ |\ |\




What are the BPP loss conditions? - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\ |\



✔✔abandonment;
appraisal;
duties after loss; |\ |\




loss payment;
|\




recovered property; |\




vacancy;
valuation;


(BPP Loss Conditions) abandonment - prohibits insured from
|\ |\ |\ |\ |\ |\ |\ |\



abandoning damaged property to the insurer for BLANK (repair is
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



also insured's responsibility) - CORRECT ANSWERS ✔✔disposal
|\ |\ |\ |\ |\ |\