Rajiv informs his Broker that he took a second mortgage on his home from his friend. What should the Broker do? Add a note to Rajiv's file in the Broker Management System and advise Rajiv to inform the Broker once the mortgage is paid off. Add a note to Rajiv's file in the Broker Management System and issue a Certificate of Insurance with the friend added as a loss payee. Advise Rajiv that his friend's name has been automatically added to the policy. Call the insurance company regarding the second mortgage and, if approved, add it to the existing policy.
Rajiv informs his Broker that he took a second mortgage on his home from his friend. What should the Broker do? Add a note to Rajiv's file in the Broker Management System and advise Rajiv to inform the Broker once the mortgage is paid off. Add a note to Rajiv's file in the Broker Management System and issue a Certificate of Insurance with the friend added as a loss payee. Advise Rajiv that his friend's name has been automatically added to the policy. Call the insurance company regarding the second mortgage and, if approved, add it to the existing policy.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Transcribed Image Text:Rajiv informs his Broker that he took a second mortgage on his home from his
friend. What should the Broker do?
Add a note to Rajiv's file in the Broker Management System and advise Rajiv to
inform the Broker once the mortgage is paid off.
Add a note to Rajiv's file in the Broker Management System and issue a Certificate
of Insurance with the friend added as a loss payee.
Advise Rajiv that his friend's name has been automatically added to the policy.
Call the insurance company regarding the second mortgage and, if approved, add it
to the existing policy.
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