Property Insurance Fundamentals第 234 / 474 题
Two partners each own an undivided one-half interest in a $300,000 rental building. One buys a policy in her own name with a $300,000 limit. Fire destroys the building. She may collect:
a.the full $300,000 policy limit
b.her one-half interest, $150,000
c.the full $300,000 building value
d.$75,000, one half of her share
解析
Indemnity limits recovery to the insured's own financial interest, and hers is half the building, so $150,000 is the ceiling no matter what limit she bought. Collecting the whole limit or the whole building value would pay her for her partner's loss as well and leave her better off than before the fire. Halving her share a second time has no basis in the ownership.
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同考点相关题目
- A building is insured by one policy for $150,000 and another for $100,000, both sharing pro rata. A covered loss of $40,000 occurs. The $150,000 policy pays:
- Two policies share a loss pro rata: one carries an $80,000 limit, the other $120,000. A covered $50,000 loss occurs. The $80,000 policy pays:
- Which of these people has an insurable interest in one particular house?
- The limit of insurance shown on the declarations page of a property policy represents:
- Blanket insurance differs from specific insurance in that a blanket limit:
- The practical effect of an agreed value provision on a property policy is that:
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