2013년 11월 28일 목요일

오전 7:00

By Eugenia Finnie

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About 'basics of accounting'|The Basics of Trust Accounts







About 'basics of accounting'|The Basics of Trust Accounts








Ｔｈｉｓ               ｓｅｃｔｉｏｎ               ｏｆ               ｓａｍｐｌｅ               ｐｒｏｂｌｅｍｓ               ａｎｄ               ｓｏｌｕｔｉｏｎｓ               ｉｓ               ａ               ｐａｒｔ               ｏｆ               Ｔｈｅ               Ａｃｔｕａｒｙ'ｓ               Ｆｒｅｅ               Ｓｔｕｄｙ               Ｇｕｉｄｅ               ｆｏｒ               Ｅｘａｍ               5,               ａｕｔｈｏｒｅｄ               ｂｙ               Ｍｒ.

Ｓｔｏｌｙａｒｏｖ.

Ｔｈｉｓ               ｉｓ               Ｓｅｃｔｉｏｎ               63               ｏｆ               ｔｈｅ               Ｓｔｕｄｙ               Ｇｕｉｄｅ.

Ｓｅｅ               ａｎ               ｉｎｄｅｘ               ｏｆ               ａｌｌ               ｓｅｃｔｉｏｎｓ               ｂｙ               ｆｏｌｌｏｗｉｎｇ               ｔｈｅ               ｌｉｎｋ               ｉｎ               ｔｈｉｓ               ｐａｒａｇｒａｐｈ.

Ｔｈｉｓ               ｓｅｃｔｉｏｎ               ｏｆ               ｔｈｅ               ｓｔｕｄｙ               ｇｕｉｄｅ               ｉｓ               ｉｎｔｅｎｄｅｄ               ｔｏ               ｐｒｏｖｉｄｅ               ｐｒａｃｔｉｃｅ               ｐｒｏｂｌｅｍｓ               ａｎｄ               ｓｏｌｕｔｉｏｎｓ               ｔｏ               ａｃｃｏｍｐａｎｙ               ｔｈｅ               ｐａｇｅｓ               ｏｆ               Ｉｎｓｕｒａｎｃｅ               Ｏｐｅｒａｔｉｏｎｓ,               Ｒｅｇｕｌａｔｉｏｎ,               ａｎｄ               Ｓｔａｔｕｔｏｒｙ               Ａｃｃｏｕｎｔｉｎｇ,               ｃｉｔｅｄ               ｂｅｌｏｗ.

Ｓｔｕｄｅｎｔｓ               ａｒｅ               ｅｎｃｏｕｒａｇｅｄ               ｔｏ               ｒｅａｄ               ｔｈｅｓｅ               ｐａｇｅｓ               ｂｅｆｏｒｅ               ａｔｔｅｍｐｔｉｎｇ               ｔｈｅ               ｐｒｏｂｌｅｍｓ.

Ｔｈｉｓ               ｓｔｕｄｙ               ｇｕｉｄｅ               ｉｓ               ｅｎｔｉｒｅｌｙ               ａｎ               ｉｎｄｅｐｅｎｄｅｎｔ               ｅｆｆｏｒｔ               ｂｙ               Ｍｒ.

Ｓｔｏｌｙａｒｏｖ               ａｎｄ               ｉｓ               ｎｏｔ               ａｆｆｉｌｉａｔｅｄ               ｗｉｔｈ               ａｎｙ               ｏｒｇａｎｉｚａｔｉｏｎ(ｓ)               ｔｏ               ｗｈｏｓｅ               ｔｅｘｔｂｏｏｋｓ               ｉｔ               ｒｅｆｅｒｓ,               ｎｏｒ               ｄｏｅｓ               ｉｔ               ｒｅｐｒｅｓｅｎｔ               ｓｕｃｈ               ｏｒｇａｎｉｚａｔｉｏｎ(ｓ).
               Ｓｏｍｅ               ｏｆ               ｔｈｅ               ｑｕｅｓｔｉｏｎｓ               ｈｅｒｅ               ａｓｋ               ｆｏｒ               ｓｈｏｒｔ               ｗｒｉｔｔｅｎ               ａｎｓｗｅｒｓ               ｂａｓｅｄ               ｏｎ               ｔｈｅ               ｒｅａｄｉｎｇ.

Ｔｈｉｓ               ｉｓ               ｍｅａｎｔ               ｔｏ               ｇｉｖｅ               ｔｈｅ               ｓｔｕｄｅｎｔ               ｐｒａｃｔｉｃｅ               ｉｎ               ａｎｓｗｅｒｉｎｇ               ｑｕｅｓｔｉｏｎｓ               ｏｆ               ｔｈｅ               ｆｏｒｍａｔ               ｔｈａｔ               ｗｉｌｌ               ａｐｐｅａｒ               ｏｎ               Ｅｘａｍ               5.

Ｓｔｕｄｅｎｔｓ               ａｒｅ               ｅｎｃｏｕｒａｇｅｄ               ｔｏ               ｔｙｐｅ               ｔｈｅｉｒ               ｏｗｎ               ａｎｓｗｅｒｓ               ｆｉｒｓｔ               ａｎｄ               ｔｈｅｎ               ｔｏ               ｃｏｍｐａｒｅ               ｔｈｅｓｅ               ａｎｓｗｅｒｓ               ｗｉｔｈ               ｔｈｅ               ｓｏｌｕｔｉｏｎｓ               ｇｉｖｅｎ               ｈｅｒｅ.

Ｐｌｅａｓｅ               ｎｏｔｅ               ｔｈａｔ               ｔｈｅ               ｓｏｌｕｔｉｏｎｓ               ｐｒｏｖｉｄｅｄ               ｈｅｒｅ               ａｒｅ               ｎｏｔ               ｎｅｃｅｓｓａｒｉｌｙ               ｔｈｅ               ｏｎｌｙ               ｐｏｓｓｉｂｌｅ               ｏｎｅｓ.
               Ｓｏｕｒｃｅ:
               Ｍｙｈｒ,               Ａ.Ｅ.;               ａｎｄ               Ｍａｒｋｈａｍ,               Ｊ.Ｊ.

Ｉｎｓｕｒａｎｃｅ               Ｏｐｅｒａｔｉｏｎｓ,               Ｒｅｇｕｌａｔｉｏｎ,               ａｎｄ               Ｓｔａｔｕｔｏｒｙ               Ａｃｃｏｕｎｔｉｎｇ               (Ｓｅｃｏｎｄ               Ｅｄｉｔｉｏｎ).

Ａｍｅｒｉｃａｎ               Ｉｎｓｔｉｔｕｔｅ               ｆｏｒ               Ｃｈａｒｔｅｒｅｄ               Ｐｒｏｐｅｒｔｙ               Ｃａｓｕａｌｔｙ               Ｕｎｄｅｒｗｒｉｔｅｒｓ.

2004.

Ｃｈａｐｔｅｒ               8,               ｐｐ.

8.40-8.41,               Ｃｈａｐｔｅｒ               9,               ｐｐ.

9.3-9.8.
               Ｏｒｉｇｉｎａｌ               Ｐｒｏｂｌｅｍｓ               ａｎｄ               Ｓｏｌｕｔｉｏｎｓ               ｆｒｏｍ               Ｔｈｅ               Ａｃｔｕａｒｙ'ｓ               Ｆｒｅｅ               Ｓｔｕｄｙ               Ｇｕｉｄｅ
               Ｐｒｏｂｌｅｍ               Ｓ5-63-1.

Ｗｈｉｃｈ               ｏｆ               ｔｈｅ               ｆｏｌｌｏｗｉｎｇ               ｓｔａｔｅｍｅｎｔｓ               ａｂｏｕｔ               ｃｌａｉｍｓ               ｉｎ               ｉｎｓｕｒａｎｃｅ               ａｒｅ               ｔｒｕｅ?

Ｍｏｒｅ               ｔｈａｎ               ｏｎｅ               ａｎｓｗｅｒ               ｍａｙ               ｂｅ               ｃｏｒｒｅｃｔ.
               (ａ)               Ｆｏｒ               ｍａｎｙ               ｉｎｓｕｒｅｄｓ,               ｔｈｅ               ｉｎｓｕｒｅｒ'ｓ               ｃｌａｉｍ               ａｄｊｕｓｔｅｒｓ               ａｒｅ               ｔｈｅ               ｏｎｌｙ               ｉｎｓｕｒｅｒ               ｒｅｐｒｅｓｅｎｔａｔｉｖｅｓ               ｗｉｔｈ               ｗｈｏｍ               ｔｈｅ               ｉｎｓｕｒｅｄｓ               ｈａｖｅ               ｃｏｎｔａｃｔ               ａｆｔｅｒ               ｔｈｅ               ｐｏｌｉｃｙ               ｈａｓ               ｂｅｅｎ               ｉｓｓｕｅｄ.
               (ｂ)               Ｉｆ               ａ               ｃｌａｉｍ               ｇｏｅｓ               ｔｏ               ｔｒｉａｌ,               ｔｈｅ               ｃｌａｉｍ               ａｄｊｕｓｔｅｒ               ｔｙｐｉｃａｌｌｙ               ｍａｎａｇｅｓ               ｔｈｅ               ｉｎｓｕｒｅｒ'ｓ               ｄｅｆｅｎｓｅ               ｃｏｕｎｓｅｌ.
               (ｃ)               Ｉｎｓｕｒｅｒ               ｃｌａｉｍ               ｏｆｆｉｃｅｓ               ａｒｅ               ｕｓｕａｌｌｙ               ｃｅｎｔｒａｌｉｚｅｄ               ｉｎ               ｏｎｅ               ｌｏｃａｔｉｏｎ               ｓｏ               ａｓ               ｔｏ               ｅｎａｂｌｅ               ｒａｐｉｄ               ｃｏｏｒｄｉｎａｔｉｏｎ               ａｍｏｎｇ               ｔｈｅ               ｖａｒｉｏｕｓ               ｏｆｆｉｃｅｓ.
               (ｄ)               Ｉｎｄｅｐｅｎｄｅｎｔ               ａｄｊｕｓｔｅｒｓ               ａｒｅ               ｂｅｓｔ               ｕｓｅｄ               ｆｏｒ               ｓｍａｌｌ,               ｒｏｕｔｉｎｅ               ｃｌａｉｍｓ,               ｏｎ               ｗｈｉｃｈ               ｔｈｅ               ｉｎｓｕｒｅｒ               ｓｈｏｕｌｄ               ｎｏｔ               ｅｘｐｅｎｄ               ｔｈｅ               ｔｉｍｅ               ａｎｄ               ｒｅｓｏｕｒｃｅｓ               ｏｆ               ｉｔｓ               ｓｐｅｃｉａｌｉｚｅｄ               ｉｎｔｅｒｎａｌ               ｓｔａｆｆ.
               (ｅ)               Ｍａｎｙ               ｉｎｓｕｒｅｒｓ               ｅｍｐｌｏｙ               ｉｎｄｅｐｅｎｄｅｎｔ               ａｄｊｕｓｔｅｒｓ               ａｓ               ａ               ｐａｒｔ               ｏｆ               ｔｈｅｉｒ               ｎｏｒｍａｌ               ｂｕｓｉｎｅｓｓ               ｏｐｅｒａｔｉｏｎｓ.
               (ｆ)               Ｈｉｇｈｅｒ               ｌｅｖｅｌｓ               ｏｆ               ｃｌａｉｍ               ｓｅｔｔｌｅｍｅｎｔ               ａｕｔｈｏｒｉｔｙ               ａｒｅ               ｔｙｐｉｃａｌｌｙ               ｇｒａｎｔｅｄ               ｔｏ               ｉｎｓｕｒｅｒ               ｅｍｐｌｏｙｅｅｓ               ａｎｄ               ｒｅｐｒｅｓｅｎｔａｔｉｖｅｓ               ｏｎ               ｔｈｅ               ｂａｓｉｓ               ｏｆ               ｓｅｎｉｏｒｉｔｙ               -               ｉ.ｅ.,               ｌｅｎｇｔｈ               ｏｆ               ｔｉｍｅ               ｓｐｅｎｔ               ｗｉｔｈ               ｔｈｅ               ｃｏｍｐａｎｙ.
               (ｇ)               Ｔｈｅ               ｃｌａｉｍ               ａｄｊｕｓｔｍｅｎｔ               ｐｒｏｃｅｓｓ               ｆｏｒ               ｐｒｏｐｅｒｔｙ               ａｎｄ               ｌｉａｂｉｌｉｔｙ               ｃｌａｉｍｓ               ｆｏｃｕｓｅｓ               ｏｎ               ｅｓｓｅｎｔｉａｌｌｙ               ｔｈｅ               ｓａｍｅ               ａｔｔｒｉｂｕｔｅｓ.
               Ｓｏｌｕｔｉｏｎ               Ｓ5-63-1.

Ｔｈｉｓ               ｑｕｅｓｔｉｏｎ               ｉｓ               ｂａｓｅｄ               ｏｎ               ｔｈｅ               ｄｉｓｃｕｓｓｉｏｎ               ｉｎ               Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐｐ.

8.40-8.41.

Ｔｈｅ               ｆｏｌｌｏｗｉｎｇ               ａｎｓｗｅｒｓ               ａｒｅ               ｃｏｒｒｅｃｔ:
               (ａ)               Ｆｏｒ               ｍａｎｙ               ｉｎｓｕｒｅｄｓ,               ｔｈｅ               ｉｎｓｕｒｅｒ'ｓ               ｃｌａｉｍ               ａｄｊｕｓｔｅｒｓ               ａｒｅ               ｔｈｅ               ｏｎｌｙ               ｉｎｓｕｒｅｒ               ｒｅｐｒｅｓｅｎｔａｔｉｖｅｓ               ｗｉｔｈ               ｗｈｏｍ               ｔｈｅ               ｉｎｓｕｒｅｄｓ               ｈａｖｅ               ｃｏｎｔａｃｔ               ａｆｔｅｒ               ｔｈｅ               ｐｏｌｉｃｙ               ｈａｓ               ｂｅｅｎ               ｉｓｓｕｅｄ.


               (ｂ)               Ｉｆ               ａ               ｃｌａｉｍ               ｇｏｅｓ               ｔｏ               ｔｒｉａｌ,               ｔｈｅ               ｃｌａｉｍ               ａｄｊｕｓｔｅｒ               ｔｙｐｉｃａｌｌｙ               ｍａｎａｇｅｓ               ｔｈｅ               ｉｎｓｕｒｅｒ'ｓ               ｄｅｆｅｎｓｅ               ｃｏｕｎｓｅｌ.


               (ｅ)               Ｍａｎｙ               ｉｎｓｕｒｅｒｓ               ｅｍｐｌｏｙ               ｉｎｄｅｐｅｎｄｅｎｔ               ａｄｊｕｓｔｅｒｓ               ａｓ               ａ               ｐａｒｔ               ｏｆ               ｔｈｅｉｒ               ｎｏｒｍａｌ               ｂｕｓｉｎｅｓｓ               ｏｐｅｒａｔｉｏｎｓ.
               Ｃｈｏｉｃｅ               (ｃ)               ｉｓ               ｎｏｔ               ｃｏｒｒｅｃｔ;               ｉｎｓｕｒｅｒ               ｃｌａｉｍ               ｏｆｆｉｃｅｓ               ａｒｅ               ｔｙｐｉｃａｌｌｙ               ｌｏｃａｔｅｄ               ｉｎ               ｃｌｏｓｅ               ｐｒｏｘｉｍｉｔｙ               ｔｏ               ｐｏｌｉｃｙｈｏｌｄｅｒｓ,               ｓｏ               ａｓ               ｔｏ               ｅｎａｂｌｅ               ｅａｓｉｅｒ               ｐｒｏｖｉｓｉｏｎ               ｏｆ               ｓｅｒｖｉｃｅ.
               Ｃｈｏｉｃｅ               (ｄ)               ｉｓ               ｎｏｔ               ｃｏｒｒｅｃｔ;               ｉｎｄｅｐｅｎｄｅｎｔ               ａｄｊｕｓｔｅｒｓ               ａｒｅ               ｏｆｔｅｎ               ｕｓｅｄ               ｆｏｒ               ｃｏｍｐｌｅｘ               ｃｌａｉｍｓ               ｔｈａｔ               ｒｅｑｕｉｒｅ               ｓｐｅｃｉａｌｉｚｅｄ               ｅｘｐｅｒｔｉｓｅ.

Ｓｏｍｅ               ｉｎｄｅｐｅｎｄｅｎｔ               ａｄｊｕｓｔｅｒｓ               ｍａｙ               ｓｐｅｃｉａｌｉｚｅ               ｉｎ               ｈａｎｄｌｉｎｇ               ｃｅｒｔａｉｎ               ｔｙｐｅｓ               ｏｆ               ｃｌａｉｍｓ               ｆｏｒ               ｗｈｉｃｈ               ｔｈｅ               ｉｎｓｕｒｅｒ               ｌａｃｋｓ               ｉｎｔｅｒｎａｌ               ｅｘｐｅｒｔｉｓｅ.
               Ｃｈｏｉｃｅ               (ｆ)               ｉｓ               ｎｏｔ               ｃｏｒｒｅｃｔ;               ｈｉｇｈｅｒ               ｌｅｖｅｌｓ               ｏｆ               ｃｌａｉｍ               ｓｅｔｔｌｅｍｅｎｔ               ａｕｔｈｏｒｉｔｙ               ａｒｅ               ｔｙｐｉｃａｌｌｙ               ｇｒａｎｔｅｄ               ｔｏ               ｉｎｓｕｒｅｒ               ｅｍｐｌｏｙｅｅｓ               ｏｎ               ｔｈｅ               ｂａｓｉｓ               ｏｆ               ｒｅｓｐｏｎｓｉｂｌｅ               ｕｓｅ               ｏｆ               ａｕｔｈｏｒｉｔｙ               ｔｈａｔ               ｈａｄ               ａｌｒｅａｄｙ               ｂｅｅｎ               ｇｒａｎｔｅｄ.

Ｅｘｐｅｒｉｅｎｃｅ               ｗｉｔｈ               ｔｈｅ               ｃｏｍｐａｎｙ               ｍａｙ               ｂｅ               ａ               ｆａｃｔｏｒ               ｔｈａｔ               ｉｓ               ｃｏｎｓｉｄｅｒｅｄ,               ｂｕｔ               ｓｔｒｉｃｔ               ｓｅｎｉｏｒｉｔｙ               ｃｏｎｓｉｄｅｒａｔｉｏｎｓ               ａｒｅ               ｓｅｌｄｏｍ               ｕｓｅｄ.
               Ｃｈｏｉｃｅ               (ｇ)               ｉｓ               ｎｏｔ               ｃｏｒｒｅｃｔ;               ｔｈｅｒｅ               ａｒｅ               ｃｏｎｓｉｄｅｒａｂｌｅ               ｄｉｆｆｅｒｅｎｃｅｓ               ｉｎ               ｔｈｅ               ｃｌａｉｍ               ａｄｊｕｓｔｍｅｎｔ               ｐｒｏｃｅｓｓ               ｂｅｔｗｅｅｎ               ｐｒｏｐｅｒｔｙ               ｃｌａｉｍｓ               ａｎｄ               ｌｉａｂｉｌｉｔｙ               ｃｌａｉｍｓ.

Ｐｒｏｐｅｒｔｙ               ｌｏｓｓｅｓ               ａｒｅ               ｐｒｉｍａｒｉｌｙ               ｏｂｊｅｃｔｉｖｅ               ａｎｄ               ｒｅｌａｔｉｖｅｌｙ               ｓｔｒａｉｇｈｔｆｏｒｗａｒｄ               ｔｏ               ｑｕａｎｔｉｆｙ.

Ｔｈｅ               ｌａｒｇｅｓｔ               ｃｏｍｐｏｎｅｎｔ               ｏｆ               ｌｉａｂｉｌｉｔｙ               ｌｏｓｓｅｓ               ｉｓ               ｓｕｂｊｅｃｔｉｖｅ               -               ｅ.ｇ.,               ｌｏｓｓｅｓ               ｄｕｅ               ｔｏ               "ｐａｉｎ               ａｎｄ               ｓｕｆｆｅｒｉｎｇ"               ａｎｄ               ｓｉｍｉｌａｒ               ｈａｒｍｓ.
               Ｐｒｏｂｌｅｍ               Ｓ5-63-2.

Ｌｉｓｔ               ｆｏｕｒ               ｑｕｅｓｔｉｏｎｓ               ｔｈａｔ               ａ               ｐｒｏｐｅｒｔｙ               ｃｌａｉｍ               ａｄｊｕｓｔｅｒ               ｗｏｕｌｄ               ｎｅｅｄ               ｔｏ               ａｎｓｗｅｒ               ｉｎ               ｈａｎｄｌｉｎｇ               ｖｉｒｔｕａｌｌｙ               ａｎｙ               ｐｒｏｐｅｒｔｙ               ｃｌａｉｍ.
               Ｓｏｌｕｔｉｏｎ               Ｓ5-63-2.

Ｓｉｘ               ｓｕｃｈ               ｑｕｅｓｔｉｏｎｓ               ａｒｅ               ｍｅｎｔｉｏｎｅｄ               ｂｙ               Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.3:
               1.

"Ｗｈｏ               ｈａｓ               ａｎ               ｉｎｓｕｒａｂｌｅ               ｉｎｔｅｒｅｓｔ               ｉｎ,               ａｎｄ               ｗｈｏ               ｉｓ               ｉｎｓｕｒｅｄ               ｗｉｔｈ               ｒｅｓｐｅｃｔ               ｔｏ,               ｄａｍａｇｅｄ               ｐｒｏｐｅｒｔｙ?"               
               2.

"Ｗｈａｔ               ｐｒｏｐｅｒｔｙ               ｉｓ               ｉｎｓｕｒｅｄ               ｕｎｄｅｒ               ａ               ｐｏｌｉｃｙ,               ｗｈｅｒｅ               ｉｓ               ｉｔ               ｉｎｓｕｒｅｄ,               ａｎｄ               ｄｕｒｉｎｇ               ｗｈａｔ               ｔｉｍｅ               ｐｅｒｉｏｄ?"               
               3.

"Ａｇａｉｎｓｔ               ｗｈａｔ               ｃａｕｓｅｓ               ｏｆ               ｌｏｓｓ               ｄｏｅｓ               ｔｈｅ               ｉｎｓｕｒａｎｃｅ               ｐｒｏｔｅｃｔ?"               
               4.

"Ｗｈａｔ               ｉｓ               ｔｈｅ               ｄｏｌｌａｒ               ａｍｏｕｎｔ               ｏｆ               ｔｈｅ               ｌｏｓｓ?"               
               5.

"Ｗｈａｔ               ａｒｅ               ｔｈｅ               ｉｎｓｕｒｅｄ'ｓ               ｄｕｔｉｅｓ               ａｆｔｅｒ               ａ               ｌｏｓｓ?"               
               6.

"Ｗｈａｔ               ｐｒｏｃｅｄｕｒｅｓ               ｍｕｓｔ               ｔｈｅ               ａｄｊｕｓｔｅｒ               ｆｏｌｌｏｗ               ｔｏ               ｓｅｔｔｌｅ               ｔｈｅ               ｃｌａｉｍ?"               
               Ａｎｙ               ｆｏｕｒ               ｏｆ               ｔｈｅ               ａｂｏｖｅ               ｓｕｆｆｉｃｅ               ａｓ               ａｎ               ａｎｓｗｅｒ.

Ｏｔｈｅｒ               ｖａｌｉｄ               ａｎｓｗｅｒｓ               ｍａｙ               ａｌｓｏ               ｂｅ               ｐｏｓｓｉｂｌｅ.
               Ｐｒｏｂｌｅｍ               Ｓ5-63-3.

Ｄｅｆｉｎｅ               ｔｈｅ               ｆｏｌｌｏｗｉｎｇ               ｋｉｎｄｓ               ｏｆ               ｉｎｔｅｒｅｓｔ               ｉｎ               ｐｒｏｐｅｒｔｙ:
               (ａ)               Ｓｏｌｅ               ｏｗｎｅｒｓｈｉｐ;               
               (ｂ)               Ｊｏｉｎｔ               ｏｗｎｅｒｓｈｉｐ;               
               (ｃ)               Ｔｅｎａｎｃｙ               ｂｙ               ｅｎｔｉｒｅｔｉｅｓ;               
               (ｄ)               Ｏｗｎｅｒｓｈｉｐ               ｉｎ               ｃｏｍｍｏｎ.
               (ｅ)               Ｎａｍｅ               ｔｈｒｅｅ               ｋｉｎｄｓ               ｏｆ               ｉｎｔｅｒｅｓｔｓ               ｉｎ               ｐｒｏｐｅｒｔｙ,               ａｓｉｄｅ               ｆｒｏｍ               ｏｗｎｅｒｓｈｉｐ               ｉｎｔｅｒｅｓｔ,               ｗｈｉｃｈ               ｃａｎ               ｅｘｉｓｔ.
               Ｓｏｌｕｔｉｏｎ               Ｓ5-63-3.
               (ａ)               Ｓｏｌｅ               ｏｗｎｅｒｓｈｉｐ               ｉｓ               ａ               ｓｉｔｕａｔｉｏｎ               ｗｈｅｒｅ               ｔｈｅ               "ｏｗｎｅｒ               ｈａｓ               ｃｏｍｐｌｅｔｅ               ｉｎｔｅｒｅｓｔ               ｉｎ               ｔｈｅ               ｐｒｏｐｅｒｔｙ"               (Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.4).
               (ｂ)               Ｊｏｉｎｔ               ｏｗｎｅｒｓｈｉｐ               ｉｓ               "ａ               ｆｏｒｍ               ｏｆ               ｏｗｎｅｒｓｈｉｐ               ｉｎ               ｗｈｉｃｈ               ｔｗｏ               ｏｒ               ｍｏｒｅ               ｏｗｎｅｒｓ               ｈａｖｅ               ａｎ               ｉｎｄｉｖｉｓｉｂｌｅ               ｉｎｔｅｒｅｓｔ               ｉｎ               ｐｒｏｐｅｒｔｙ"               (Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.4).
               (ｃ)               Ｔｅｎａｎｃｙ               ｂｙ               ｅｎｔｉｒｅｔｉｅｓ               ｉｓ               "ａ               ｆｏｒｍ               ｏｆ               ｊｏｉｎｔ               ｔｅｎａｎｃｙ               ｏｗｎｅｒｓｈｉｐ               ｉｎ               ｗｈｉｃｈ               ｔｈｅ               ｃｏ-ｏｗｎｅｒｓ               ａｒｅ               ｈｕｓｂａｎｄ               ａｎｄ               ｗｉｆｅ,               ａｎｄ               ｗｈｅｎ               ｏｎｅ               ｓｐｏｕｓｅ               ｄｉｅｓ,               ｐｒｏｐｅｒｔｙ               ｉｓ               ｐａｓｓｅｄ               ｔｏ               ｔｈｅ               ｓｕｒｖｉｖｉｎｇ               ｓｐｏｕｓｅ"               (Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.4).
               (ｄ)               Ｏｗｎｅｒｓｈｉｐ               ｉｎ               ｃｏｍｍｏｎ               ｉｓ               "ａ               ｆｏｒｍ               ｏｆ               ｏｗｎｅｒｓｈｉｐ               ｉｎ               ｗｈｉｃｈ               ｔｗｏ               ｏｒ               ｍｏｒｅ               ｏｗｎｅｒｓ               ｅａｃｈ               ｈａｖｅ               ａｎ               ｉｄｅｎｔｉｆｉａｂｌｅ               ｆｒａｃｔｉｏｎａｌ               ｉｎｔｅｒｅｓｔ               ｉｎ               ｐｒｏｐｅｒｔｙ"               (Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.4).
               (ｅ)               Ｔｈｅ               ｆｏｌｌｏｗｉｎｇ               ｔｈｒｅｅ               ｎｏｎ-ｏｗｎｅｒｓｈｉｐ               ｉｎｔｅｒｅｓｔｓ               ｉｎ               ｐｒｏｐｅｒｔｙ               ａｒｅ               ｍｅｎｔｉｏｎｅｄ               ｂｙ               Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐｐ.

9.4-9.5:               
               1.

Ｌｅｓｓｅｅｓ               ｏｆ               ｐｒｏｐｅｒｔｙ,               ｗｈｏ               "ｈａｖｅ               ａｎ               ｉｎｔｅｒｅｓｔ               ｉｎ               ｔｈｅ               ｕｓｅ               ｏｆ               ｐｒｏｐｅｒｔｙ               ｆｏｒ               ｔｈｅ               ｌｉｆｅ               ｏｆ               ｔｈｅ               ｌｅａｓｅ"               (Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.4).
               2.

Ｃｕｓｔｏｄｉａｎｓ               ｏｆ               ｐｒｏｐｅｒｔｙ:               Ｔｈｉｓ               ｇｒｏｕｐ               ｉｎｃｌｕｄｅｓ               ｂａｉｌｅｅｓ,               ｗａｒｅｈｏｕｓｅ               ｅｍｐｌｏｙｅｅｓ,               ａｎｄ               ｃａｒｒｉｅｒｓ.

Ｔｈｅｙ               "ｈａｖｅ               ａｎ               ｉｎｔｅｒｅｓｔ               ｉｎ               ｔｈｅ               ｐｒｏｐｅｒｔｙ               ｔｏ               ｔｈｅ               ｅｘｔｅｎｔ               ｏｆ               ｔｈｅｉｒ               ｆｅｅｓ               ａｎｄ               ｆｏｒ               ｔｈｅｉｒ               ｌｅｇａｌ               ｌｉａｂｉｌｉｔｙ               ｆｏｒ               ｔｈｅ               ｐｒｏｐｅｒｔｙ'ｓ               ｓａｆｅ               ｒｅｔｕｒｎ               ｔｏ               ｉｔｓ               ｏｗｎｅｒ"               (Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.4).
               3.

Ｓｅｃｕｒｉｔｙ               ｉｎｔｅｒｅｓｔｓ,               ｗｈｅｒｅ               ｔｈｅ               ｓｅｃｕｒｅｄ               ｐａｒｔｙ               ｉｓ               ｍｏｓｔ               ｏｆｔｅｎ               "ａ               ｃｒｅｄｉｔｏｒ               ｏｆ               ｔｈｅ               ｐｒｏｐｅｒｔｙ               ｏｗｎｅｒ"               (Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.5).
               Ｐｒｏｂｌｅｍ               Ｓ5-63-4.
               (ａ)               Ｗｈａｔ               ｔｗｏ               ｑｕｅｓｔｉｏｎｓ               ｍｕｓｔ               ａ               ｃｌａｉｍ               ａｄｊｕｓｔｅｒ               ａｄｄｒｅｓｓ               ｗｈｅｎ               ｈａｎｄｌｉｎｇ               ｃｌａｉｍｓ               ｔｈａｔ               ｉｎｖｏｌｖｅ               ａ               ｌａｎｄｌｏｒｄ-ｔｅｎａｎｔ               ｒｅｌａｔｉｏｎｓｈｉｐ?
               (ｂ)               Ｇｅｎｅｒａｌｌｙ,               ｗｈａｔ               ｅｎｔｉｔｉｅｓ               ａｒｅ               ｔｈｅ               ｏｎｌｙ               ｏｎｅｓ               ｅｎｔｉｔｌｅｄ               ｔｏ               ｍａｋｅ               ａ               ｃｌａｉｍ               ｕｎｄｅｒ               ａ               ｐｒｏｐｅｒｔｙ               ｉｎｓｕｒａｎｃｅ               ｐｏｌｉｃｙ?
               (ｃ)               Ｗｈａｔ               ａｒｅ               ｌｏｓｓ               ｐａｙｅｅｓ?
               Ｓｏｌｕｔｉｏｎ               Ｓ5-63-4.
               (ａ)               Ｗｈｅｎ               ｈａｎｄｌｉｎｇ               ｃｌａｉｍｓ               ｔｈａｔ               ｉｎｖｏｌｖｅ               ａ               ｌａｎｄｌｏｒｄ-ｔｅｎａｎｔ               ｒｅｌａｔｉｏｎｓｈｉｐ,               ａ               ｃｌａｉｍ               ａｄｊｕｓｔｅｒ               ｍｕｓｔ               ａｄｄｒｅｓｓ               ｔｈｅ               ｆｏｌｌｏｗｉｎｇ               ｔｗｏ               ｑｕｅｓｔｉｏｎｓ,               ｄｉｓｃｕｓｓｅｄ               ｂｙ               Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.6:
               1.

"Ｗｈａｔ               ａｒｅ               ｔｈｅ               ｐａｒｔｉｅｓ'               ｒｅｓｐｅｃｔｉｖｅ               ｉｎｔｅｒｅｓｔｓ               ｉｎ               ｔｈｅ               ｐｒｏｐｅｒｔｙ               ｕｎｄｅｒ               ｔｈｅ               ｌｅａｓｅ?"
               2.

"Ｗｈａｔ               ｒｉｇｈｔｓ               ｄｏｅｓ               ｅａｃｈ               ｐａｒｔｙ               ｈａｖｅ               ｕｎｄｅｒ               ｔｈｅ               ａｐｐｌｉｃａｂｌｅ               ｉｎｓｕｒａｎｃｅ               ｐｏｌｉｃｙ               ｉｎ               ｑｕｅｓｔｉｏｎ?"
               (ｂ)               Ａｓ               ｄｉｓｃｕｓｓｅｄ               ｂｙ               Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.7,               ｇｅｎｅｒａｌｌｙ,               ｏｎｌｙ               ｔｈｅ               ｆｏｌｌｏｗｉｎｇ               ｐａｒｔｉｅｓ               ａｒｅ               ｅｎｔｉｔｌｅｄ               ｔｏ               ｍａｋｅ               ａ               ｃｌａｉｍ               ｕｎｄｅｒ               ａ               ｐｒｏｐｅｒｔｙ               ｉｎｓｕｒａｎｃｅ               ｐｏｌｉｃｙ:
               1.

Ｔｈｅ               "ｆｉｒｓｔ               ｎａｍｅｄ               ｉｎｓｕｒｅｄ"               ｏｒ               "ｎａｍｅｄ               ｉｎｓｕｒｅｄ";               
               2.

Ａ               ｓｐｏｕｓｅ               ｏｆ               ｔｈｅ               "ｎａｍｅｄ               ｉｎｓｕｒｅｄ";               
               3.

Ａ               ｌｅｇａｌ               ｒｅｐｒｅｓｅｎｔａｔｉｖｅ               ｏｆ               ｔｈｅ               ｎａｍｅｄ               ｉｎｓｕｒｅｄ,               ｉｎ               ｔｈｅ               ｅｖｅｎｔ               ｏｆ               ｓａｉｄ               ｉｎｓｕｒｅｄ'ｓ               ｄｅａｔｈ.
               (ｃ)               Ｌｏｓｓ               ｐａｙｅｅｓ               ａｒｅ               "ｐａｒｔｉｅｓ,               ｓｕｃｈ               ａｓ               ｏｗｎｅｒｓ               ｏｆ               ｌｅａｓｅｄ               ｏｆｆｉｃｅ               ｅｑｕｉｐｍｅｎｔ,               ｗｈｏ               ｄｏ               ｎｏｔ               ｈａｖｅ               ａｎｙ               ｒｉｇｈｔｓ               ｇｒｅａｔｅｒ               ｔｈａｎ               ｏｒ               ｉｎｄｅｐｅｎｄｅｎｔ               ｏｆ               ｔｈｅ               ｐｏｌｉｃｙｈｏｌｄｅｒ,               ｂｕｔ               ｗｈｏｓｅ               ｎａｍｅｓ               ｍｕｓｔ               ｂｅ               ｉｎｃｌｕｄｅｄ               ｏｎ               ａｎｙ               ｃｌａｉｍ               ｓｅｔｔｌｅｍｅｎｔ               ｃｈｅｃｋ"               (Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.7).
               Ｐｒｏｂｌｅｍ               Ｓ5-63-5.
               (ａ)Ｗｈａｔ               ｉｓ               ａ               ｆｉｘｔｕｒｅ?
               (ｂ)Ｗｈａｔ               ｔｈｒｅｅ               ｑｕｅｓｔｉｏｎｓ               ｃａｎ               ａｄｊｕｓｔｅｒｓ               ａｓｋ               ｔｏ               ｄｅｔｅｒｍｉｎｅ               ｗｈｅｔｈｅｒ               ａ               ｆｉｘｔｕｒｅ               ｇｅｔｓ               ｃｌａｓｓｉｆｉｅｄ               ａｓ               ｒｅａｌ               ｐｒｏｐｅｒｔｙ               ｏｒ               ｐｅｒｓｏｎａｌ               ｐｒｏｐｅｒｔｙ?
               (ｃ)Ｎａｍｅ               ｔｈｒｅｅ               ｃｏｕｒｓｅｓ               ｏｆ               ａｃｔｉｏｎ               ｔｈａｔ               ａ               ｃｌａｉｍ               ａｄｊｕｓｔｅｒ               ｓｈｏｕｌｄ               ａｌｗａｙｓ               ｔａｋｅ               ｂｅｆｏｒｅ               ｄｅｎｙｉｎｇ               ａ               ｃｌａｉｍ.
               Ｓｏｌｕｔｉｏｎ               Ｓ5-63-5.
               (ａ)               Ａ               ｆｉｘｔｕｒｅ               ｉｓ               "ｐｅｒｓｏｎａｌ               ｐｒｏｐｅｒｔｙ               ｔｈａｔ               ｈａｓ               ｂｅｃｏｍｅ               ａｔｔａｃｈｅｄ               ｔｏ               ａｎｄ               ｐａｒｔ               ｏｆ               ｒｅａｌ               ｐｒｏｐｅｒｔｙ"               (Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.8).
               (ｂ)               Ｔｈｅ               ｆｏｌｌｏｗｉｎｇ               ｔｈｒｅｅ               ｑｕｅｓｔｉｏｎｓ               ｒｅｇａｒｄｉｎｇ               ｔｈｅ               ｃｌａｓｓｉｆｉｃａｔｉｏｎ               ｏｆ               ｆｉｘｔｕｒｅｓ               ａｒｅ               ｄｉｓｃｕｓｓｅｄ               ｂｙ               Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.8:
               1.

"Ｈｏｗ               ｐｅｒｍａｎｅｎｔｌｙ               ａｔｔａｃｈｅｄ               ｔｏ               ｔｈｅ               ｒｅａｌ               ｐｒｏｐｅｒｔｙ               ｉｓ               ｔｈｅ               ｆｉｘｔｕｒｅ?"               
               2.

"Ｉｓ               ｔｈｅ               ｆｉｘｔｕｒｅ               ｗｅｌｌ-ａｄａｐｔｅｄ               ｔｏ               ｔｈｅ               ｒｅａｌ               ｐｒｏｐｅｒｔｙ?"               
               3.

"Ｗｈａｔ               ｗａｓ               ｔｈｅ               ｉｎｔｅｎｔ               ｏｆ               ｔｈｅ               ｏｗｎｅｒ?"
               (ｃ)               Ｔｈｅ               ｆｏｌｌｏｗｉｎｇ               ｔｈｒｅｅ               ｃｏｕｒｓｅｓ               ｏｆ               ａｃｔｉｏｎ               ｗｉｔｈ               ｒｅｇａｒｄ               ｔｏ               ｃｌａｉｍ               ｄｅｎｉａｌｓ               ａｒｅ               ｍｅｎｔｉｏｎｅｄ               ｂｙ               Ｍｙｈｒ               ａｎｄ               Ｍａｒｋｈａｍ,               ｐ.

9.8:
               1.

Ｔｈｅ               ａｄｊｕｓｔｅｒ               ｓｈｏｕｌｄ               ｃｈｅｃｋ               ｔｈｅ               ｅｘａｃｔ               ｐｏｌｉｃｙ               ｌａｎｇｕａｇｅ.


               2.

Ｔｈｅ               ａｄｊｕｓｔｅｒ               ｓｈｏｕｌｄ               ｐｒｏｖｉｄｅ               ａ               ｐｌａｕｓｉｂｌｅ               ａｎｄ               ｖｅｒｉｆｉａｂｌｅ               ｅｘｐｌａｎａｔｉｏｎ               ｔｏ               ｔｈｅ               ｉｎｓｕｒｅｄ               ｆｏｒ               ｗｈｙ               ｔｈｅ               ｃｌａｉｍ               ｈａｓ               ｂｅｅｎ               ｄｅｎｉｅｄ.


               3.

Ｔｈｅ               ａｄｊｕｓｔｅｒ               ｓｈｏｕｌｄ               ｐｒｏｖｉｄｅ               ｔｈｅ               ｃｌａｉｍ               ｄｅｎｉａｌ               ｉｎ               ｗｒｉｔｉｎｇ               ｔｏ               ｔｈｅ               ｉｎｓｕｒｅｄ.
               Ｔｈｅｒｅ               ｍａｙ               ｂｅ               ｏｔｈｅｒ               ｃｏｕｒｓｅｓ               ｏｆ               ａｃｔｉｏｎ               ｔｈａｔ               ａｒｅ               ａｄｖｉｓａｂｌｅ               ｉｎ               ａｌｌ               ｃｉｒｃｕｍｓｔａｎｃｅｓ;               ｔｈｅｓｅ               ｗｏｕｌｄ               ａｌｓｏ               ｃｏｎｓｔｉｔｕｔｅ               ｖａｌｉｄ               ａｎｓｗｅｒｓ.
               Ｓｅｅ               ｏｔｈｅｒ               ｓｅｃｔｉｏｎｓ               ｏｆ               Ｔｈｅ               Ａｃｔｕａｒｙ'ｓ               Ｆｒｅｅ               Ｓｔｕｄｙ               Ｇｕｉｄｅ               ｆｏｒ               Ｅｘａｍ               5.






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