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- Which of the following statements is correct about perils in property insurance policies? An (HO-2) form provides coverage for more perils than a (HO-3) Form. a Peril is defined as the cause of a loss A peril increases the chance of a loss a property insurance policy must contain a list of all cover perilsRisk and premiums for homeowners policies look at all of the following, EXCEPT: a) The results of the title search b) The property being insured c) The person buying the policy d) The type and amount of coveragehow to calculate property loss claim average
- Which of the following factors cannot be used to determine an insurer's limit of liability on property coverage? O A. Actual cash value Replacement cost Salvage value Policy limits OB. O C. D. WhiteboardWhat type of property insurance would cover injury to a repairperson on your property? A. Additional living expenses coverage B. Damage to home or property insurance cover C. Personal liability coverageWhat type of policy covers the cost of rebuilding or repairing property based on current construction costs? O actual cash value O depreciated asset value O replacement cost O net cash cost QUESTION 9 What process do insurance companies use to decide whether to sell a plicy and at what rate? O appraisal O undervriting O escrow assessment QUESTION 10 What service do insurance companies use to review the claim history for a property? O RECS O CHRS O FACA
- Renter's insurance would include coverage for: OA) earthquake damage. OB) flood damage. OC) personal property. OD) umbrella liability. OE) house and other structures.c) Using examples, how could the residual income method be operationalized to address potential policy applications for homeownership and rental housing affordability?An increase in the value of a home is called a. depreciation. b. amortization. c. equity. d. appreciation.
- Explain the differences between actual cash value (ACV) and replacement cost for homeowner’s insurance?Give typing answer with explanation and conclusion Property insurance protects you from financial losses resulting from the damage to or destruction of your property or possessions. True FalseWhen using the Comparison Method of Valuation to estimate the current market rent of a house, which of the following is not a value-sensitive variable that does not require adjustment to be made to the rental values of the comparables? (a) Location (b) Date of letting (c) Building condition (d) Land tenure