Exam_3_study_guide

Exam_3_study_guide - AHRM 2304: Family Financial Management...

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AHRM 2304: Family Financial Management Study Guidelines for Exam 3 Chapter 10 Understand the component parts and application of HO policies. HO-1: Basic form homeowner’s insurance HO-2: Broad form homeowner’s insurance HO-3: Special form homeowner’s insurance HO-4: Renter’s or tenant’s insurance HO-6: Condominium owner’s insurance HO-8: Modified coverage – older homes homeowner’s insurance What kinds of supplemental coverage are available? When should they be purchased? What is the difference between a named perils and all-perils policy? What is the difference in ACV and replacement cost coverage on contents? Which requires the higher $ amount of coverage? What would be the ACV of an item costing $400 with a 10-year life, destroyed or stolen after two years? Ans: $320 What is the 80% rule? The 100% rule? How is each applied? Understand the component parts and application of an auto policy. Understand and apply split-coverage limits. What is the difference between comprehensive and collision coverage? How do deductibles apply when getting reimbursement for a claim? How can you keep costs down on HO and auto insurance?
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This test prep was uploaded on 04/09/2008 for the course AAEC 2104 taught by Professor Rhlytton during the Fall '06 term at Virginia Tech.

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Exam_3_study_guide - AHRM 2304: Family Financial Management...

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