MI Public Adjuster Practice Questions - Michigan Public Adjuster Exam

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A Michigan public adjuster handles a claim and the insured receives a settlement check made payable to the insured and their mortgage company. What should the adjuster advise?

The insured can cash the check without the mortgage company Both the insured and mortgage company must endorse the check; the mortgage company may escrow funds and release them as repairs are completed and inspected The public adjuster should endorse the check Return the check to the insurer

Correct Answer:

Both the insured and mortgage company must endorse the check; the mortgage company may escrow funds and release them as repairs are completed and inspected

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