Insurance Institute
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Latest notes & summaries Insurance Institute
I. INTRODUCTION Insurance touches us all in many ways, whether obvious or not. For example, it facilitates commerce and allows us to shift risk from fire, accident, property loss, personal and bodily injury, and the financial loss associated with death. Insurance is an ever-present part of people’s daily lives. These shifts have a cost felt by most individuals on at least a yearly basis. Michigan is currently the home of the highest average automobile insurance premium in the United Sta...
Valuation Process CORRECT ANSWERS: Systematic set of procedures an appraiser follows to provide answers to a clients questions about real property value Appraisal Process CORRECT ANSWERS: 1. Define Problem 2. Determine scope of work 3. Gather Record & verify dat 4. determine highest and best use 5. estimate land value 6. est. value by all three approaches 7. Reconcile est. value into final opinion value 8. report the final opinion defining problem CORRECT ANSWERS: Identification ...