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PA APPRAISAL LICENSE 16-20 AUTO PHYSICAL DAMAGE
newest / 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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