A clause found in a mortgage or deed of trust that allows the lender to foreclose without giving the borrower the right to a formal judicial hearing is the:
a. Power of foreclosure clause
b. Power of sale clause
c. Condemnation clause
d. Equitable power clause
Q. 2If a UM carrier settles with its insured or must pay a certain amount to its insured following a trial or arbitration, the carrier:
a. Can pursue a subrogation claim against the at-fault uninsured motorist.
b. Cannot pursue any claim against the at-fault uninsured motorist.
c. Can only recover from the at-fault uninsured motorist half of what it paid to its insured.
d. None of the above.
Q. 3If a company denies an insured's UM claim under the insurance policy because the insured did not report the accident to the police, the denial was likely made based on:
a. The definitions portion of the policy.
b. The insuring agreement portion of the policy.
c. Either the Duties/Conditions portion or the exclusions portion of the policy.
d. None of the above.
Q. 4All states presume the mentally incompetent and children may testify.
Indicate whether the statement is true or false
Q. 5Another simple way of describing UIM coverage is to state that it is:
a. Worthless coverage.
b. Supplemental coverage.
c. Never worth purchasing.
d. Sole coverage.
Q. 6UIM coverage:
a. Is a special form of third party coverage.
b. Is a form of third party coverage.
c. Is a form of first party coverage.
d. None of the above.
Q. 7You can't promise to keep anything a witness says confidential.
Indicate whether the statement is true or false
Q. 8Older clients are usually more formal in their manners.
Indicate whether the statement is true or false
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