Mark has been an underwriter for 20 years.An application he recently reviewed looked odd to him.The building value in the application seemed far too high,and Mark suspected the applicant might be planning to destroy the property after it is insured.Mark contacted an outside firm and hired someone to investigate the applicant and to prepare a report about the applicant.This report is called a(n)

Question

Quizplus · Accepted Answer

The report that Mark hired someone to prepare is called an inspection report, as it involves investigating the applicant and their intentions for the property. The other choices are not applicable in this context - an agent's report would pertain to the agent's own activities, a binder is a type of temporary insurance contract, and a physical inspection would refer to an assessment of the physical condition of the property itself.

Mark Has Been an Underwriter for 20 Years