Abandonment of property Study guides, Class notes & Summaries

1 FLORIDA CLAIMS ADJUSTER EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIFIED/ Peril - -Somthing t√dhat causes a loss. Hazard - -Something that increases the probability that a loss will occur. Warranty - -A policy condition, either based on information in the insureds application or inserted by the insurer. It is a guarantee of a fact. Misrepresentation - -An untrue statement by the insured, made in an application for insurance but which does not become a part of the policy. Con...

Texas All Lines Adjuster Licensing Exam Questions & Answers 2024/2025 abandonment - ANSWERSa term that applies to property and signifies both a relinquishing of it and the letting go of all legal rights to it, as well, with the intent to claim a total loss. Abandonment of property to an insurance company is something sinusoids are expressly prohibited from doing in most property policies. abandonment clauase - ANSWERSa property policy provision that stipulate that the insurer need not ac...

Colorado Law and Practice - Psi Real Estate Exam Already Passed Abandonment Non-payment of taxes Abstract of title A history of the ownership of parcel of land which lists transfers of title, rights, and liabilities. Acceleration Clause Upon default, all the principal installments come due to immediately Accesion owner of land is entitled to all the soil produces or all that is added to the land either intentionally or by mistake. Trade fixtures not removed are "assessed" by the owner of th...

Property and Casualty Chapter 2 Exam with Complete Solutions When a building has physical contents but no occupants, the building is said to be Unoccupied Under the Other Insurance condition, when two property policies cover the same property, how is a loss apportioned? Each policy will share proportionately according to the total insurance A property purchased 10 years ago for $100,000 has a replacement value today of $200,000. It has depreciated 3% each year. What is today's ac...

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

41 CFR 102-35.30 correct answers Disposition procedures must follow Federal Requirements as stated by Prior to personal property permanently leaving CG's control correct answers Agency-affixed markings should be removed when? Property Custodian (PC) correct answers Who is responsible for initiating the report of abandonment/destruction of personal property, Form CG-5598? 30 days total PC-6 APO-5 Hazmat-2 Security-2 CO/OIC-5 Regional manager-5 Final Approval-5 correct answers Rec...

Property & Casualty (Arkansas) Abandonment Condition - correct answer States that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its full value. Absolute Liability - correct answer Imposed by law on those participating in certain activities that are considered especially hazardous; a person involved in such matters may be considered liable even if they weren't negligent. Accident - correct answer A loss that occurs at a specific time and place ...

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...

Utah Stringham Real Estate Vocab Latest Version Rated A+ 3/1 ARM A loan with three years of the same rate then rate adjustments every year thereafter. 12 HOUR NEW AGENT COURSE The continuing education course required by the Utah Division of Real Estate for a new licensee's initial renewal period. 72-HOUR RIGHT OF RESCESSION All borrowers must receive this notice if the loan is a refinance loan. ABANDONMENT When a tenant leaves a property before the expiration of the lease agr...

Florida Claims Adjuster Exam Questions and Answers Graded A 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 ma...