CM- CH9 Test Review (P2)

Contract used to lease property for a predetermined period of time.

• lease agreement

• lessor

• lessee

• tenant

Owner of the property that is being leased.

• lease agreement

• lessor

• lessee

• tenant

Person renting the property under the lease.

• lease agreement

• lessor

• lessee

• tenant

Occupant of the property being rented.

• lease agreement

• lessor

• lessee

• tenant

Payment held by the lessor to cover the costs of potential damage to the property during the term of the lease.

• security deposit

• renters insurance

• actual cash value policy

• replacement cost policy

Type of insurance purchased by a tenant that provides financial protection should that person’s personal property be damaged or stolen.

• security deposit

• renters insurance

• actual cash value policy

• replacement cost policy

Insurance that pays what the property was worth at the time it was

damaged or stolen.

• security deposit

• renters insurance

• actual cash value policy

• replacement cost policy

Insurance that will pay what it actually costs to replace the item damaged or stolen.

• security deposit

• renters insurance

• actual cash value policy

• replacement cost policy

In insurance terms, amount paid to purchase insurance.

• security deposit

• premium

• claim

• deductible

Detailed report of losses that is filed with the insurance company when a person experiences a loss.

• security deposit

• premium

• claim

• deductible