Question

If REIX has multiple claims from the same REP within a 3 year period, what would the detectable be for the second claim?

A) $1,500
B) $2,500
C) $5000
D) $7000

Answer 1

The detectable for the second claim in the REIX system would be $2,500.

Step-by-step explanation:

The detectable for the second claim in the REIX system would be $2,500.

REIX, which stands for Real Estate Insurance Exchange, is likely a system that handles insurance claims in the real estate industry. In this case, if a single representative (REP) submits multiple claims within a 3-year period, the detectable amount for the second claim would be $2,500.

This is an important consideration in insurance policies to deter fraudulent behavior and ensure the accuracy of claims.