Abandonment clause - Study guides, Class notes & Summaries

The deductible correct answers The dollar amount that the insured pays before the insurer is required to pay the remainder of the loss is known as? Replacement cost correct answers Which loss settlement provides new for old? the claims adjuster's role in the insurance industry includes correct answers Give appropriate legal advice and write binding contracts following are examples of a peril correct answers Lighting, Explosion and Fire The abandonment clause correct answers The clau...

2-20 General Lines Florida Insurance Exam Questions and Answers 100% Pass Abandonment Clause - Correct Answer ️️ -often contained in a p/c policy stating that the insured cannot abandon damaged property to the (dump on) insurer and demand reimbursement for the full value. Accounts Receivable Coverage Form - Correct Answer ️️ -Inland Marine Coverage form which insures against loss the insured suffers becasuse of an inability to collect from customers when AR records are damaged. A...

Florida Claims Adjuster Exam Questions 100% Verified Correct Answers 2024/2025 Insurance applies separately to each insured as if other insureds did not exist. - Correct Answer Severability Property insurance policies usually contain a(n) __________ clause, *stating the insured cannot dump damaged property on the insurer and demand its full value.* - Correct Answer Abandonment One wherein economic loss would be suffered from an adverse happening to the subject. - Correct Answer Insurable ...

Replacement cost - ANSWER-Which loss settlement provides new for old? the claims adjuster's role in the insurance industry includes - ANSWER-Give appropriate legal advice and write binding contracts following are examples of a peril - ANSWER-Lighting, Explosion and Fire The abandonment clause - ANSWER-The clause that prohibits the insured from dumping damaged property on the insurance company and demanding to be paid in full is? Liberalization - ANSWER-When a policy change results i...

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 - Answer 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 ...

NJ Title Insurance 2024 Real Verified Exam Abandonment - CORRECT ANSWER-when someone with legal possession of property leaves without intention of reclaiming rights abstract of title - CORRECT ANSWER-A summary of the title history including all encumbrances. Acceleration clause - CORRECT ANSWER-Mortgage clause demanding full payment upon default accretion - CORRECT ANSWER-New land added by the elements, such as a river delta Accrued Depreciation - CORRECT ANSWER-Total of all deterio...

Abandonment - Answer the relinquishment of all rights and title to a property with no intention of reclaiming ownership abstract - Answer Disclosure statement to initial condo purchasers Abstract of Title - Answer Condensed history of Titel (all recorded aspects) Abutting Owner - Answer Land touches highway or public place Accredited Property Manager - Answer One awarded such a designation by Institute of Real Estate Management (IREM). Acceleration Clause - Answer ...

Abandonment - ANSWER Non-payment of taxes Abstract of title - ANSWER A history of the ownership of parcel of land which lists transfers of title, rights, and liabilities. Acceleration Clause - ANSWER Upon default, all the principal installments come due to immediately

Abandonment - Answer-The failure to occupy and use property that may result in loss of rights Abatement of Nuisance - Answer-Extinction or termination of a nuisance Abstract of Judgement - Answer-A condensation of the essential provisions of a court judgement Abstract of Title - Answer-A summary or digest of all transfers, conveyances, legal proceedings, and any other facts relied on as evidence of title, showing continuity of ownership, together with any other elements of record which ...

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...