PA APPRAISAL LICENSE 16-20 AUTO PHYSICAL DAMAGE

PA APPRAISAL LICENSE 16-20 AUTO PHYSICAL DAMAGE

newest actual / QUESTIONS & ANSWERS The insured sets a fire to his home and is found to be guilty of arson. There is a lien on the burned property by a mortgage company in the amount of $150,000. The property is insured for $300,000 and is a total loss. The personal property of the insured, covered separately by a Homeowners policy for $150,000, is also a total loss. How will this claim most likely be paid?

Select the Correct Answer

The insured is paid a total of $300,000.The mortgagee is paid $150,000.The insured is paid $150,000 for the personal property loss.Since the loss is from an intentional act of the insured the

entire loss is denied. - ---Answers_--The correct answer is:

The mortgagee is paid $150,000..

Explanation:

The provisions relative to the suspension of payment due to arson do not apply to a lender that holds a valid recorded mortgage on the property in question. Therefore, the lien 1 / 4

holder is fully reimbursed for its insurable interest in the property. The insured is not paid due to the charge and conviction of arson.A windshield is being replaced in a vehicle using the partial cutout method. Technician A says to remove all of the old urethane except the pinchweld primer. Technician B says the original urethane should remain in place and be used as a base for the new urethane installation. Who is correct?

Answer Choices:

Select the Correct Answer

Technician A only Technician B only Both technicians are correct Neither technician is correct - ---Answers_--Technician B only.

Explanation:

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Technician B is correct. When the partial cutout method is used, the original urethane remains in place as a base for the new urethane installation.

Which of the following is the type of report indicating the initial results of the investigation of a claim?

Answer Choices:

Select the Correct Answer

Field Report.Interim Report.Full Report.Claims Report. - ---Answers_--Field Report. is correct.

Explanation:

This report can also be called the initial report and is the result of the initial investigation. 3 / 4

Which one of the following is NOT a component of a tire?

Answer Choices:

Select the Correct Answer

Tread Sidewall Bead Wheel rim - ---Answers_--Wheel rim is correct.

Explanation:

A rim is part of a wheel.

Question 93 of 100

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