Your client has been renting a house and carries a Tenants Comprehensive policy through your office. He/she is getting married soon and has just bought a house into which he/she will soon move. Which one (1) of the following actions should you NOT do? OA) Endorse his/her Tenants policy to show the new address and add building coverage in the amount of the purchase price of the house. OB) Use a Home Calculator to estimate the replacement cost of the house. OC) Check into the security arrangements in the house as it may affect the premium to be charged. OD) Cancel his/her Tenant policy and re-write their insurance as a Homeowners policy.
Your client has been renting a house and carries a Tenants Comprehensive policy through your office. He/she is getting married soon and has just bought a house into which he/she will soon move. Which one (1) of the following actions should you NOT do? OA) Endorse his/her Tenants policy to show the new address and add building coverage in the amount of the purchase price of the house. OB) Use a Home Calculator to estimate the replacement cost of the house. OC) Check into the security arrangements in the house as it may affect the premium to be charged. OD) Cancel his/her Tenant policy and re-write their insurance as a Homeowners policy.
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Transcribed Image Text:Your client has been renting a house and carries a Tenants Comprehensive policy through your office. He/she is getting married
soon and has just bought a house into which he/she will soon move. Which one (1) of the following actions should you NOT do?
OA) Endorse his/her Tenants policy to show the new address and add building coverage in the amount of the purchase price of
the house.
OB) Use a Home Calculator to estimate the replacement cost of the house.
OC) Check into the security arrangements in the house as it may affect the premium to be charged.
OD) Cancel his/her Tenant policy and re-write their insurance as a Homeowners policy.
Transcribed Image Text:Which one (1) of the following statements best defines a "mortgagor"?
OA) It is the one who owes the money.
OB) It is the one to whom the money is owed.
OC) It is the insurer who must pay the money in the event of a claim.
OD) It is the document which shows the amount of money owed.
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