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A client phones to tell you he has bought a high-end stereo system costing $5,000.00 which has just been installed in his car. What should you tell him? OA) Provide you with a copy of the invoice so you can have his O.A.P. 1 Owner's Policy endorsed to cover its full value. OB) No further action is needed. The new system is automatically covered under O.A.P. 1 Owner's Policy as part of the car. OC) There is no coverage on the system unless the car is equipped with an approved security system. OD) There is no coverage if the system is stolen unless the car has been forcibly opened.

A client phones to tell you he has bought a high-end stereo system costing $5,000.00 which has just been installed in his car. What should you tell him? OA) Provide you with a copy of the invoice so you can have his O.A.P. 1 Owner's Policy endorsed to cover its full value. OB) No further action is needed. The new system is automatically covered under O.A.P. 1 Owner's Policy as part of the car. OC) There is no coverage on the system unless the car is equipped with an approved security system. OD) There is no coverage if the system is stolen unless the car has been forcibly opened.

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A client phones to tell you he has bought a high-end stereo system costing $5,000.00 which has just been installed in his car. What should you tell him? OA) Provide you with a copy of the invoice so you can have his O.A.P. 1 Owner's Policy endorsed to cover its full value. OB) No further action is needed. The new system is automatically covered under O.A.P. 1 Owner's Policy as part of the car. OC) There is no coverage on the system unless the car is equipped with an approved security system. OD) There is no coverage if the system is stolen unless the car has been forcibly opened.
Transcribed Image Text:A client phones to tell you he has bought a high-end stereo system costing $5,000.00 which has just been installed in his car. What should you tell him? OA) Provide you with a copy of the invoice so you can have his O.A.P. 1 Owner's Policy endorsed to cover its full value. OB) No further action is needed. The new system is automatically covered under O.A.P. 1 Owner's Policy as part of the car. OC) There is no coverage on the system unless the car is equipped with an approved security system. OD) There is no coverage if the system is stolen unless the car has been forcibly opened.
John owns a building valued at and insured for $300,000. He sells Tom and Andy each an equal one-third share. None of them thinks to inform the broker or insurer of the change in ownership. Six months later the building is destroyed by fire. How much would John be entitled to collect? OA) Nothing. OB) $300,000.00 OC) $240,000.00 OD) $100,000.00
Transcribed Image Text:John owns a building valued at and insured for $300,000. He sells Tom and Andy each an equal one-third share. None of them thinks to inform the broker or insurer of the change in ownership. Six months later the building is destroyed by fire. How much would John be entitled to collect? OA) Nothing. OB) $300,000.00 OC) $240,000.00 OD) $100,000.00
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