Question (6)

For business income coverage, the period of restoration is the period of time that begins 72 hours after the

Group of answer choices:

(A) Claims representative has completed a claim report.

(B) Extent of loss has been estimated by the insured.

(C) Claim for damage has been submitted to the insurer.

(D) Time the physical loss occurs.

Question (7)

In the business income coverage form, the period of restoration

Group of answer choices:

(A) Begins immediately after the physical loss occurs with no waiting period.

(B) Includes additional time to assess the effects of pollutants.

(C) Includes additional time to repair the building to comply with building code or law.

(D) Ends when the property is or should have been restored.

Question (8)

The additional coverage of the Business Income Coverage Form (BIC) which extends the regular business income coverage to include business income losses that continue after the period of restoration ends is the

Group of answer choices:

(A) Expenses To Reduce Loss.

(B) Civil Authority.

(C) Extended Business Income.

(D) Interruption of Computer Operations.

Question (9)

The loss determination section of a business income insurance policy states that the business income loss is determined by all of the following, EXCEPT:

Group of answer choices:

(A) The increase in business resulting from a catastrophe

(B) The net income of the business before the loss occurred

(C) The operating expenses that must continue during the period of restoration to permit the insured to resume operations with the quality of service that existed prior to loss

(D) The probable net income of the business if no loss had occurred