Small Business Management Study Set 2
Quiz 23: Risk Management
Business Interruption Insurance Covers
Business interruption insurance covers A) lost income. B) shoplifting. C) debts to suppliers. D) defective products.
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A unique, attractive feature of a BOP is that both real and personal property are valued on A) an appraised cash value basis. B) a market-adjusted depreciated value basis. C) a replacement-cost basis. D) a proximal-to-value basis.
A coinsurance provision requires that a property be insured for at lease ____ percent of its value. A) sixty B) seventy C) eighty D) ninety
Doug's BOP on his fishing guide business excludes property losses due to the wakes of other fishing boats. This is an example of the ____ approach to property insurance. A) foreseen risk B) reasonable-person standard C) named-peril D) insurance-to-value
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