Insurance Studies > A-Level Mark Scheme > Florida Claims Adjuster Exams 2024 (A+ GRADED) (All)
Florida Claims Adjuster Exams 2024 (A+ GRADED)
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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 exist. This is defined as: A. Severability B. Conditional C. Warranty D. None of the above - ANSWER A. Severability Property insurance policies usually contain a(n) clause, stating the insured cannot dump damaged property on the insurer and demand its full value [Show More]
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