Quiz for February 2nd

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

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

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

• Yes

• No

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%

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.

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

What is NOT one of the 5 Quality Grades?

• Economy

• Superior

• Custom

• Premium

Finished square footage includes the garage area?

True or False?

• True

• False

Do built-in bookcases or wet-bars impact the estimated replacement cost of a home?

• Yes

• No

We request that a select a coverage amount at least equal to _____% of the estimated replacement cost of the home.

• 75

• 85

• 80

• 100