3. Apex Insurance Company requires their new employees to take a Basic Insurance Skills Test. One question on the test asks new employees to identify sections of an insurance policy: declarations, insuring agreement, conditions, exclusions, definitions, and miscellaneous provisions. A portion of the test is reproduced below. Identify the section of the policy illustrated by each of the following. (half-point each) a. The storage shed is 50 feet by 100 feet, with a concrete floor. The walls of the structure are made of masonry noncombustible material. The peaked roof is made of tin sheets attached to wood sheets that rest on wooden supports. The wooden roof supports are spaced 10 feet apart. There is an overhead door on one end of the structure. The door is 30 feet wide and 26 feet in height." b. "This insurance does not cover losses that are intentionally caused. Additionally, this policy does not cover losses to currency, coins, stocks, bonds, manuscripts, or stamps. Finally, losses attributable to earthquakes and floods are not covered." c. This policy covers direct physical loss to property, provided the loss is caused by fire, lightning, wind, hail, riot, vandalism, explosion, or smoke." d. "In this policy, "you" refers to the named insured." "In this policy, we refers to Apex Insurance Company." "An "occurrence" means a loss that happens suddenly and accidentally, as well as a loss that develops over time." e. "In case of loss to covered property, we have no duty to provide payment unless you, as the insured (or your legal representative) perform the following duties: give prompt notice of loss to us or to our agent, protect any damaged property from further harm, and cooperate with us in the investigation of the claim." 3. Apex Insurance Company requires their new employees to take a Basic Insurance Skills Test. One question on the test asks new employees to identify sections of an insurance policy: declarations, insuring agreement, conditions, exclusions, definitions, and miscellaneous provisions. A portion of the test is reproduced below. Identify the section of the policy illustrated by each of the following. (half-point each) a. The storage shed is 50 feet by 100 feet, with a concrete floor. The walls of the structure are made of masonry noncombustible material. The peaked roof is made of tin sheets attached to wood sheets that rest on wooden supports. The wooden roof supports are spaced 10 feet apart. There is an overhead door on one end of the structure. The door is 30 feet wide and 26 feet in height." b. "This insurance does not cover losses that are intentionally caused. Additionally, this policy does not cover losses to currency, coins, stocks, bonds, manuscripts, or stamps. Finally, losses attributable to earthquakes and floods are not covered." c. This policy covers direct physical loss to property, provided the loss is caused by fire, lightning, wind, hail, riot, vandalism, explosion, or smoke." d. "In this policy, "you" refers to the named insured." "In this policy, we refers to Apex Insurance Company." "An "occurrence" means a loss that happens suddenly and accidentally, as well as a loss that develops over time." e. "In case of loss to covered property, we have no duty to provide payment unless you, as the insured (or your legal representative) perform the following duties: give prompt notice of loss to us or to our agent, protect any damaged property from further harm, and cooperate with us in the investigation of the claim