A promissory note is generally required to be recorded with the mortgage/deed of trust

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A promissory note is generally required to be recorded with the mortgage/deed of trust

A. True
B. False- The original note is returned to the lender until the mortgage is satisfied.

Answer: B. False

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An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay?

An insured's building has an actual cash value of $200,000, and he has insured the property for $120,000 with an 80% coinsurance clause. A $40,000 loss occurs. How much will the policy pay? a) $0 b) $30,000 c) $32,000 d) $40,000 Answer: B

In insurance,

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Which is generally true regarding insureds who have been classified as preferred risks

Which is generally true regarding insureds who have been classified as preferred risks A) They can borrow higher amounts off of their policies. B) They can decide when to pay their monthly premiums. C) They keep a higher percentage of any interest earned on their policies. D) Their premiums are lower. Answer: Their premiums are lower

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All of the following are true regarding a decreasing term policy EXCEPT
Purchasing a life insurance policy in order to avoid the forced sale of assets upon death is called
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What documentation grants express authority to an agent?

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