Minnesota Real Estate Exam Practice Question
The insured MUST notify the insurer of a loss
Correct Answer: D
Rationale: Notifying the insurer "promptly" ensures that claims are handled efficiently and allows for timely investigation and resolution. This term encompasses the need for immediate communication without setting a strict timeframe, which can vary based on circumstances.
Option A, "when discovered," is vague and may lead to delays in reporting. Options B and C specify fixed timeframes (15 and 30 days, respectively), which can be misleading as requirements may differ by policy or state regulations. Relying on the term "promptly" emphasizes the importance of timely notification tailored to the situation.
Unlock All Questions
Subscribe to Premium for full access to all practice questions, detailed rationales, and performance tracking.
Subscribe Now