8 Questions |
By Kathleenh | Last updated: Dec 12, 2013
| Total Attempts: 39
Questions and Answers
What does HOI stand for?
Only the primary borrower should be listed on the insurance policy and not the co-borrower.
How long should the policy be effective for on a purchase?
What must happen on a refinance if the policy expires within the first 60 days after closing?
How should the mortgagee clause read?
Dwelling coverage OR Dwelling coverage + replacement cost should equal one of the following calculations: 1. Estimated cost new (found on the appraisal). 2. Appraised value minus site value (found on the appraisal).
Please review the sample of the HOI policy in your book. If I have an appraisal with an appraised value of $200,000, do I have enough dwelling coverage?
What form should be faxed or emailed to the insurance company when ordering insurance?
This chapter reviews basic principles that provide a foundation
for the insurance industry. They range from the concept of risk, to the idea
that individuals and businesses can minimize losses by transferring and sharing...
Questions: 6 | Attempts: 9576 | Last updated: Jan 27, 2016
LaTonya purchases a house from John. She borrows $75,000 from
First City Bank that, along with her $25,000 down payment, equals the $100,000
purchase price of the home. Who has an insurable interest in this home? Choose
all that apply.
A contract is a legal agreement
between two or more competent parties that promises a certain performance in
exchange for a certain consideration. When an insurance company agrees to pay
for an insured's losses in exchange...
Questions: 7 | Attempts: 7984 | Last updated: Dec 26, 2012
Which of the following is not a requirement for forming a valid contract?