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Question 380 out of 1 pointsYou are asked to evaluate the insurance policies of a new client, named John. Thehomeowner’s policy is for $250,000 with a $100 deductible. It was purchased approximately 8years ago. John recently updated his personal auto policy (PAP) that covers his 3 year old carwith the following split limits: $150,000 / $500,000 / $50,000. The PAP has both collision andcomprehensive coverage with a deductible of $250. He also has an umbrella policy in theamount of $1,000,000. Use this information to answer the following questions.If the replacement cost of the home is $400,000 and there is $50,000 of damage due to agrease fire, what is John's insurance reimbursement?Answers:A.$38,963B.$39,063C.$49,900D.$50,000ResponseFeedback:[$250,000 policy / (80% x $400,000 replacement cost)] x $50,000 loss -$100 deductible = $38,963
Question 390 out of 1 pointsYou are asked to evaluate the insurance policies of a new client, named John. Thehomeowner’s policy is for $250,000 with a $100 deductible. It was purchased approximately 8years ago. John recently updated his personal auto policy (PAP) that covers his 3 year old carwith the following split limits: $150,000 / $500,000 / $50,000. The PAP has both collision andcomprehensive coverage with a deductible of $250. He also has an umbrella policy in theamount of $1,000,000. Use this information to answer the following questions.Assume John causes an accident which totals his $40,000 car when he slides off the roadand hits a tree. What will John receive from his personal auto policy (PAP)?Answer
Question 400 out of 1 points
You are asked to evaluate the insurance policies of a new client, named John. Thehomeowner’s policy is for $250,000 with a $100 deductible. It was purchased approximately 8years ago. John recently updated his personal auto policy (PAP) that covers his 3 year old carwith the following split limits: $150,000 / $500,000 / $50,000. The PAP has both collision andcomprehensive coverage with a deductible of $250. He also has an umbrella policy in theamount of $1,000,000. Use this information to answer the following questions.When John hits the tree he injures his friend who sues for $1,240,000. What is the properorder of how this settlement will be paid (ignore any deductibles)?Answer

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