Fl adjust - Study guides, Class notes & Summaries

1. Frank owned a home that was destroyed by a hurricane. Both ABC and XYZ Banks were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, ABC B. The Insured C. Jointly to ABC and XYZ D. All listed interests: D. All listed interests Remember that the insurer is not responsible to know the degrees of interest. In the event of a loss, one payment is made by the insurer and it is up to the additional interests on worki...

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FL Adjuster Practice Exam With 100% Correct And Verified Answers

What is an eligible building for flood insurance? correct answers A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage? correct answers Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A? correct answers No, HO-4 (Renters personal pro...

Which of the following is NOT one of the four critical elements of a contract? (A) A mutual understanding and agreement with the terms of the contract. (B) Written evidence of the agreement and its terms. (C)A legal purpose. (D)Consideration, consisting of money or a promise of performance. - Answer- (B) Written evidence of the agreement and its terms. Assume that five years ago a couple insured their home for [its then appraised value of] $60,000. Two weeks ago they had a stove f...

Which of the following is NOT one of the four critical elements of a contract? (A) A mutual understanding and agreement with the terms of the contract. (B) Written evidence of the agreement and its terms. (C)A legal purpose. (D)Consideration, consisting of money or a promise of performance. (B) Written evidence of the agreement and its terms. Assume that five years ago a couple insured their home for [its then appraised value of] $60,000. Two weeks ago they had a stove fire r...

FL Adjusters License Practice Exams Questions With Complete Solutions |Guaranteed Success

What is an eligible building for flood insurance? CORRECT ANSWER A structure with 2 or more outside rigid walls and a fully secure roof, built on a permanent site, with 50% or more of the value above ground level and located within an eligible community What is Builders Risk Coverage? CORRECT ANSWER Covers buildings in the course of completion. Proper coverage is 100% of expected completed value Do all Homeowners policies contain Coverage A? CORRECT ANSWER No, HO-4 (Renters personal proper...

FL Adjusters License Practice Exams

FL Adjusters License Exams With Verified And 100% Correct Answers