Loss payee clause - Study guides, Class notes & Summaries

The following are basic characteristics of a property or liability insurance contract, except: A. Personal Contract B. Conditional Contract C. Loss of Settlement Contract D. Contract of Adhesion - ANSWER- Loss of Settlement Contract The Insurer's responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property against further loss, and to give the insurer proof of the loss is defined as? A. Conditio...

Common Policy Declarations - Answer: Named Insured Mailing Address Policy Period Business Description Premium for Coverage Parts - Total Forms Applicable Examination Of Your Books And Records (Common Policy Conditions) - Answer: at any time during the policy period and up to 3 years after Common Policy Conditions - Answer: Cancellation Changes Examination of Your Books and Records Inspections and Surveys Premiums Transfer of Your Rights and Duties Under This Policy Rights a...

FLORIDA CLAIMS ADJUSTER LATEST EXAM 2023-2024 REAL EXAM270+ QUESTIONS AND CORRECT ANSWERS The following are basic characteristics of a property or liability insurance contract, except: A. Personal Contract B. Conditional Contract C. Loss of Settlement Contract D. Contract of Adhesion - ANSWER- Loss of Settlement Contract The Insurer's responsibility to pay for a property loss may be conditioned on the insured having used reasonable means to avoid the loss, to protect the property agains...

Florida Claims Adjuster Exam 2 | 206 Questions with 100% Correct Answers already passed 2023/2024/2025 Severability - CORRECT ANSWER Insurance applies separately to each insured as if other insureds did not exist. Abandonment - CORRECT ANSWER Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value.* Insurable Interest - CORRECT ANSWER One wherein economic loss would be suffered f...

Florida Claims Adjuster Exam QUESTIONS WITH VERIFIED 100% ANSWERS Severability - ANSWER Insurance applies separately to each insured as if other insureds did not exist. Abandonment - ANSWER Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value.* Insurable Interest - ANSWER One wherein economic loss would be suffered from an adverse happening to the subject. Liberalization -...

Subrogation - ANSWER-When an insured has a right to collect damages from another party but elects to claim damages under his/her insurance policy; rights transfer to the insurer Loss Payee Clause - ANSWER-Provides, in event of payment being made under the policy in relation to insured risk, that payment will be made to a third party rather than the beneficiary Mortgagee Clause - ANSWER-Protects a lender who has an insurable interest in a homeGrants special protection for the interest of a ...

Property And Casualty Florida Verified Answers risk ️Chance of a financial loss Assumed risk ️Amount of risk the insured is willing to absorb Pure Risk ️a risk that presents the chance of loss but no opportunity for gain Speculative Risk ️Chance of loss or gain insurance ️a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium. Law of Large Num...

Personal Lines License 20-44 Exam Questions and Answers 100% Pass Warranty - Correct Answer ️️ -policy condition, either based on information in the insured's application or inserted by the insurer Misrepresentation - Correct Answer ️️ -an untrue statement by the insured, made in an application but does not become a part of the policy Broad Evidence Rule - Correct Answer ️️ -a method of determing the true insurable worth of a structure or vehicle according to any measure that...

FLORIDA CLAIMS ADJUSTER EXAM 2024 | ACTUAL EXAM QUESTIONS AND CORRECT ANSWERS | GRADED A+ 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 ...

Principles Of Real Estate 1- Champions School Of Real Estate Questions And Answers 100% Verified. a freeway has made commuting to a distant suburban neighborhood easier, resulting in an increase in new home sales. This increase in sales is an example of the economic characteristic of A.) scarcity B.) Fixity C.) Situs D.) Modification - correct answer. D.) Modification The supply of Real Estate is affected by A.) Land cost B.) Building codes C.) Government regulati...