Answered: Your client John Smith ensures his… | bartleby

Related questions

Question

Your client John Smith ensures his condominium through the office for a comprehensive form subject to a $200 deductible. He calls in a fire damage claim the damage is estimated to be $750 to replace a dishwasher $1000 for the marble countertop and $250 to clean the cabinets how much will he recover under this policy?

49. Improvements and Betterments made to a Condominium Unit by its owner are insured:
A. Under a blanket feature of the Condominium Corporation's Master Policy.
B) Under coverage A3 of the individual Unit Owners Comprehensive Policy.
C. Under Building coverage of the Condominium Corporation's Master Policy.
D. Under Coverage A1 of the Unit Owners Comprehensive Policy
C. $750 for the dishwasher, less the deductible
D. $1800 for the entire loss
2000
25
nder the Tec
50. Your client, John Smith insures his Condominium Unit through your office on a Comprehens
form subject to a $200 deductible. He calls in a fire damage claim. Damage is estimated to be
$750 to replace a dishwasher, $1000 for the marble countertop and $250 to clean the cabinets
How much will he recover under his policy?
A. $750 for the dishwasher, $250 for the cabinets, less the deductible
B. $2000 for the entire loss
250
ant's ow
C
51. Your clients advise you they have just purchased a set of matching antique candlesticks
valued at $2,500 each. They have Canadian historical significance and they wish to insur
specifically. You would recommend they:
A. Increase the limit of their contents coverage under their Homeowners policy. X
B. Insure the items by means of a Fine Arts coverage endorsement added to the Home
policy.
Doplacement Cost coverage to their Homeowners policy. X

Expert Solution

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Blurred answer

Similar questions

Which one of the following is NOT a correct pairing of a trust provision with its characteristics? A) Spendthrift provision: a clause in a trust that prevents a beneficiary from withdrawing more than the greater of $5,000 or 5% of the corpus.quizlet B) Crummey provision: a trust clause that provides the beneficiary with a limited duration right to demand payment of contributions to a trust each year up to the annual gift tax exclusion from the trustee. C) Discretionary provision: a trust clause that allows the trustee to use his or her sole judgment in determining how much of the trust income and principal will be paid to or on behalf of a beneficiary. ?
Buyer Javier makes a formal offer to Seller Joy: $250,000 and the appliances stay. Joy counters: $250,000, no appliances. Joy then reconsiders and accepts the first offer. Is Javier is obligated to buy the home? Why or why not? Yes, because Javier never formally withdrew the offer. No, because once Javier's offer is countered, it is considered rejected and is dead. Yes, because Joy's counter was for the same amount of money as Javier's initial offer. No. because a buyer can withdraw from a contract for any reason without penalty.
Building and personal property coverage form Can cover which of the following expenses Except automobile held for sale Building additions Improvement and betterment Property of others
Ryan is self-employed. This year Ryan used his personal auto for several long business trips. Ryan paid $1500.00 for gasoline on these trips. His depreciation on the car if he was using it fully for business purposes would b $3000. During the year, he drove his car a total of 12,000 miles (a combination of business and personal travel) Ryan can provide written documentation of the business purpose for trips totaling 3,000 mils. What business expense amount can Ryan deduct (if any) for these trips. Ryan estimates that he drove approximately 1300 miles on business trips, but he can only provide written documentation of the business purpose for trips totaling 820 miles. What business expenses amount can Ryan deduct (if any) for these trips?
Buyer Bert can't believe that Seller Sam has had a last-second change of heart about entering into an agreement to sell his home to Bert. Sam has offered to refund Bert's earnest money and even pay him something in acknowledgment of Bert's inconvenience and disappointment, but Bert's not having it. He wants Sam's house. Choose the remedy for breach of trust that Bert will most likely take. demand specific performance initiate rescission accept compensatory damages settle for liquidated damages
A pilot for a private jet stops for refueling in San Antonio. Topper Fuels offers him a case of premium Tequila to refuel with them (a total retail value of $423 to the pilot). For refueling, inspections, and minor repairs, Topper charges $2,900, over $400 more than the least expensive fuel company. What has happened to the company that owns the private jet
13. Sam Fraser, 24 years of age and single, possesses a two-year-old vehicle which he drives to work (a distance of 7(1/2) miles, full circle). He keeps the vehicle in 03 region, and has had one auto crash during the previous three years. What amount would Sam save money on a mix of $100-deductible impact and thorough inclusion on the off chance that he drove a vehicle delegated image 1 instead of as image 5? We don't know whether Sam has had driver preparing.
Scenario B (Australian Taxation Law): – Taxpayers at retirement age Inder Muller, aged 58, recently retired from his employment as chief accountant of Moon Light Pty Ltd, after 17 years and 4 months of service. Inder’s wife Belinda, aged 59, is currently running a small newsagency. Inder and Belinda visited you to seek advice on various retirement planning options specified below. Inder and Belinda both are covered by private health insurance. 2) Regarding Inder’s Termination payment & Superannuation Inder currently has superannuation valued at $582,000 with the Suncorp (complying Super fund). The total amount includes the following elements; > Tax free component $25,000 > Element untaxed in the fund $207,000 > Element taxed in the fund $350,000LAW6001 Required Advise Inder what would be the tax consequences of withdrawing his super prior to his retirement age, including all options available to him.
Yeah LTD purchased equipment on January 1, 2015 at a cost of $171,380. The equipment has an estimated useful life of 9 years and a residual value of $9,650. Crane realized that there was a declining demand for the product being produced by the equipment. Given this indicator of possible impairment, management determined that the recoverable amount of the asset on December 31, 2018 was $95,260. The company uses the straight-line method of depreciation. Record the impairment loss, if any, on December 31, 2018.
A Delaware LLC wanted to acquire a 300,000 square foot class “A” office building in Philadelphia for $150 per square foot that was 77% leased. Wells Fargo agreed to fund a purchase money mortgage loan with a maximum LTV of 60%. What is the minimum amount of equity that would be needed to close the acquisition? a. $45,000,000 b. $9,000,000 c. $18,000,000 d. $27,000,000
To acquire a 400,000 square foot industrial park in Boca Raton, Florida at a purchase price of $40 million, an investor put down 40% and borrowed $24 million with a 30-year fully amortizing fixed rate mortgage loan at an annual contract interest rate of 5% payable monthly. The borrower was charged two points by the lender that was deducted from the loan amount at closing. If the monthly payments on the loan were paid on time each month and if the loan was fully repaid at the end of 10 years with no prepayment penalty, what was the effective annual yield on the loan to the payoff date? a.5.28% b.5.38% c.5.18% d.5.08%
pls help asap

SEE MORE QUESTIONS