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Find the total annual premium. Use the fire insurance rate table
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Question : Find the total annual premium. Use the fire insurance rate table : 2139072

Find the total annual premium. Use the fire insurance rate table. Rates are for each \$100 of insurance.

51)

 Area Rating: 2 Building Classification: C Building Value: \$ 512,000 Contents Value: \$ 101,600

A) \$ 4,388.64

B) \$ 3,526.80

C) \$ 2,862.80

D) \$ 4,038.40

Find the amount to be paid by the insurance company. Assume the policy includes an 80% coinsurance clause. Round to the nearest dollar.

52)

 Replacement Cost of Building: \$ 340,000 Face Value of Policy: \$ 306,000 Amount of Loss: \$ 2,500

A) \$ 2,222

B) \$ 2,500

C) \$ 2,813

D) \$ 2,000

53)

 Replacement Cost of Building: \$ 367,000 Face Value of Policy: \$ 257,000 Amount of Loss: \$ 2,200

A) \$ 1,926

B) \$ 1,760

C) \$ 2,514

D) \$ 2,200

54)

 Replacement Cost of Building: \$ 760,000 Face Value of Policy: \$ 507,000 Amount of Loss: \$ 57,000

A) \$ 57,000

B) \$ 47,531

C) \$ 45,600

D) \$ 38,000

55)

 Replacement Cost of Building: \$ 50,000 Face Value of Policy: \$ 30,000 Amount of Loss: \$ 2,800

A) \$ 2,800

B) \$ 2,100

C) \$ 2,240

D) \$ 1,680

56)

 Replacement Cost of Building: \$ 982,000 Face Value of Policy: \$ 589,200 Amount of Loss: \$ 197,000

A) \$ 147,750.00

B) \$ 73,875.00

C) \$ 197,000.00

D) \$ 118,200.00

Find the amount paid by each insurance company. Assume that any coinsurance requirement is met.

57)

 Insurance loss: \$ 10,000 Company A coverage: \$ 84,000 Company B coverage: \$ 28,000

A) A pays: \$ 7,200

B pays: \$ 2,800

B) A pays: \$ 7,500

B pays: \$ 2,500

C) A pays: \$ 10,000

B pays: \$0

D) A pays: \$ 8,400

B pays: \$ 1,600

58)

 Insurance loss: \$ 32,000 Company A coverage: \$ 160,000 Company B coverage: \$ 40,000

A) A pays: \$ 32,000

B pays: \$0

B) A pays: \$ 16,000

B pays: \$ 16,000

C) A pays: \$ 24,000

B pays: \$ 8,000

D) A pays: \$ 25,600

B pays: \$ 6,400

59)

 Insurance loss: \$ 15,000 Company A coverage: \$ 90,000 Company B coverage: \$ 10,000

A) A pays: \$ 15,000

B pays: \$0

B) A pays: \$ 11,250

B pays: \$ 3,750

C) A pays: \$ 7,500

B pays: \$ 7,500

D) A pays: \$ 13,500

B pays: \$ 1,500

60)

 Insurance loss: \$ 102,000 Company A coverage: \$ 400,000 Company B coverage: \$ 50,000 Company C coverage: \$50,000

A) A pays: \$ 102,000

B pays: \$0

C pays: \$0

B) A pays: \$ 51,000

B pays: \$ 34,000

C pays: \$ 17,000

C) A pays: \$ 34,000

B pays: \$ 34,000

C pays: \$ 34,000

D) A pays: \$ 81,600

B pays: \$ 10,200

C pays: \$ 10,200

Solution 5 (1 Ratings )

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