What can an insured do under a homeowners policy to provide insurance coverage for specific
valuable items, such as a rare and valuable painting?
A) Add a personal effects floater to the policy covering the artwork
B) Add the standard artwork addendum to the policy
C) Obtain an independent appraisal and submit it to the insurer
D) Nothing in particular; it will be covered within the overall policy limits, but that might
leave less coverage for other items
E) Execute an appurtenant structure substitution agreement in which the coverage for the
rare item will take the place of coverage for appurtenant structures
A
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A business makes a cash payment to a supplier on account for office supplies that were purchased earlier. Which of the following accounts is credited?
A) Cash B) Accounts Payable C) Office Supplies D) Utilities Expense
A broker's representation of a client, such as a buyer or seller, is best undertaken:
a. with an oral agreement only. b. through coercion. c. on a written employment agreement signed by both the client and the broker. d. through ratification after acts requiring a license have been performed.