Líneas ComercialesPregunta 473 de 531
A retailer's business personal property limit is $300,000, raised to $700,000 for September through December by a peak season endorsement. A covered fire on November 10 destroys $560,000 of stock. The deductible is $5,000. How much is paid?
a.$300,000
b.$555,000
c.$295,000
d.$560,000
Explicación
A peak season endorsement lifts the limit for the stated months, when inventory is at its highest, so the November loss is measured against $700,000 rather than the off-season $300,000: $560,000 less the $5,000 deductible is $555,000. The answers built on $300,000 apply the base limit to a loss that fell inside the endorsed period, and the full $560,000 ignores the deductible.
Practica las 531 preguntas gratis — sin registro.
Own the complete California Property & Casualty Broker-Agent guide — PDF + EPUB, $24.99 →
Preguntas relacionadas de este tema
- After a covered fire, a print shop rents temporary space for $12,000 a month for three months and rents replacement presses for $9,000 so it can keep filling orders. What is its extra expense claim?
- An insured elects to exclude ordinary payroll from its business income coverage. During a shutdown the policy will then not pay:
- An insured on a reporting form last reported $200,000 of stock when the true value on that date was $250,000. A covered loss of $50,000 follows. What does the full reporting condition allow?
- For the vacancy condition in a commercial property policy, a building owned by the insured counts as vacant when:
- Why is equipment breakdown coverage bought separately from the commercial property policy?
- A builders risk policy on a commercial building under construction is normally written for a limit equal to:
Última revisión: · proceso editorial
Equipo de PrepPass · Verificado con California Property & Casualty Insurance License Exam · Cómo revisamos