Severability - Study guides, Class notes & Summaries

CLAIMS ADJUSTER (FLORIDA) EXAM | QUESTIONS AND ANSWERS | GRADED A+ | Frank owned a home that was destroyed by a hurricane. Both TD Bank and Bank of America were listed as additional interests on his homeowner policy. The insurance company will make a payment to: A. The first mortgagee, TD Bank B. The Insured C. Jointly to TD Bank and Bank of America D. All listed interests - ANSWER D. All listed interests Insurance applies separately to each insured as if other insureds did not ex...

Purpose of Contracts - Purpose Contracts will be used to define terms between two or more parties for the provision of a service or product. In health care, contracts are used for: Health plan or payer agreements. Construction projects. Collection services. Maintenance on equipment. Leasing space. Employment of contracted staff, and a variety of other items For a contract to be valid, individual must do three things - Valid Contract For a contract to be valid, two (or more) individuals ...

National USPAP Course Exam The Appraisal Foundation has the authority to enforce the requirements of USPAP. - Correct answer-False Currently, the boards within the Appraisal Foundation include: - Correct answerAppraisal Standards Board, Appraisal Qualifications Board, Board of Trustees Which Foundation board is responsible for USPAP? - Correct answer-Appraisal Standards Board Qualification criteria for appraiser certification and recertification are disseminated to state appraisal boards ...

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. Theinsurance 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 workin...

6-20 Claims Adjuster Questions and Answers Graded A+ The following are basic characteristics of a property or liability insurance contract, EXCEPT: A. Personal Contract B. Conditional Contract C. Loss Settlement Contract D. Contract of Adhesion - Answer ️️ -C. Loss Settlement Contract The Insurers 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 in...

Severability Insurance applies separately to each insured as if other insureds did not exist. Abandonment 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 One wherein economic loss would be suffered from an adverse happening to the subject. Liberalization States that if the insurer adopts a revision which would broaden coverage without additional premium wit...

FLORIDA CLAIMS ADJUSTER EXAM | QUESTIONS AND 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 a loss, one paymen...

This optional provision states that if the insured becomes totally disabled, premiums are waived but the coverage remains in force: A. Waiver of Subrogation B. Waiver of Premium C. Waiver of Value D. None of the AboveB. Waiver of Premium "premiums are waived" 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 In...

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 working out ...

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 from an adverse happening to the subject. Liberalization CORRECT ANSWER States that if the insurer adopts a revision...