Combined State farm auto external claim Resource Certification Exam 2024

Insurance producer - An individual or an entity authorized in writing by a lawfully qualified insurance compnay to transact, negotiate or effect contracts of insurance of behalf of that insurance company. Resident Producer - Any person that lives in kansas and is licensed to transact insurance bu...

Absolute Assignment - Policy assignment when assignee receives full control over the policy and full rights to its benefits. Accelerated benefits rider - Life insurance rider that allow for early payment of some portion of policy's face amount, should the insured suffer from terminal illness/inj...

Abandonment - The abdication of insured property into the hands of another, or into the possession of no one in particular. Absolute Liability - A type of liability that occurs due to extremely dangerous operations, such as the use of explosives or working at extreme heights. Accident - An unp...

An FP-7955 homeowners policy with a $250 deductibles is in force. Policy limits for coverage A & B are adequate, with loss settlement provision A1 and B1. During a windstorm, the following property was damaged Item: RCV ACV Wood Fence $1600 $850 Gas Grill $300 $250 Outdoor Antenna $500 $400 ...

Select the false statement listed below: In the HO-3 policy, the ALE payments will be made only for: Select the single best answer: A. The shortest time necessary to repair or replace the damaged property, but not to exceed 24 months. B. If the insured does not rebuild, the time necessary for...

Coverage A - Dwelling Coverage B - Personal Property Coverage C - Loss of Use Coverage A - is the dwelling and dwelling extensions. The dwelling is the structure used principally as a the private residence and the dwelling extensions are other structures on the residence premises separate...

collapse - coverage involving a building, or any part of the it suddenly falling into pieces or entirely falling down must be directly caused by - perils described in section 1 losses insures, and coverage b personal property - hidden decay - hidden insect damage - weight of contents, equipm...

ACV - actual cash value After Market Parts - Parts produced by a 3rd party for use on automobiles. Betterment - An improvement made to and automobile that increases its value, rather than a repair that simply maintains its current value BL - Blend Blend - This operation is equal to half ...

Competitive Bids - The competitive bid process requires that two or more repairers submit competitive estimates or "bids" for a specific repair job. The amount of the low, complete bid is generally considered to be the "competitive" price and is used as the basis for settlement. In all cases, ...

Select Service Program - In some market areas, repairers have been selected to participate in State Farm's Select Service Program. The program is designed to enhance claim service, increase efficiency, and afford customers an opportunity to select qualified repairers to inspect and estimate vehicle...

You're preparing an estimate on a customer's vehicle that requires refinishing of the hood and right front fender only. The hood is the first panel listed on the estimate. According to most Collision Estimating Guides, would refinish overlap be applicable on the hood? Choose the most correct state...