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Quiz for February 2nd

Authored by Randy Shoemaker

Professional Development

Professional Development

Used 2+ times

Quiz for February 2nd
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. When would a customer receive an Adverse Action Notice?

3 months after eligibility has been confirmed

Prior to eligibility being confirmed

After customer has been determined to be ineligible

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

1. Prior losses may impact the condition of the property, which of the following may warrant further checking of the property's condition?

A large water claim

A series of water claims

A large hail claim

A large fire claim

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Does a customer have a right to see their consumer report?

Yes

No

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is recommended that the customer select a coverage amount of at least equal to ___ of the estimated replacement cost of the home.

80%

100%

120%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the replacement cost in relation to a customer's home?

The market value of the home.

The home's purchase price or the cost of the land.

The outstanding amount of any mortgage loan.

The rebuilding cost necessary to repair or replace the entire home with like materials and construction techniques.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

For a non-ADA claim, who ultimately decides what coverages will apply to the loss and the covered loss amount?

Claim Rep

Underwriter

The customer

Agent

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is NOT one of the 5 Quality Grades?

Economy

Superior

Custom

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