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State Farm bundled exams with complete solution
State Farm bundled exams with complete solution
[Show more]State Farm bundled exams with complete solution
[Show more]Abandonment Condition - A condition often contained in property insurance policies that states 
that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its 
full value. 
Accident - A loss that occurs at a specific time and place 
Actual Cash Value (ACV) - Toda...
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Add to cartAbandonment Condition - A condition often contained in property insurance policies that states 
that the insured cannot abandon damaged property to the insurer and demand to be reimbursed for its 
full value. 
Accident - A loss that occurs at a specific time and place 
Actual Cash Value (ACV) - Toda...
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 the...
Preview 3 out of 21 pages
Add to cartSelect 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 the...
In property insurance actual cash value is defined as which of the following - Replacement cost at 
the time of the loss, less depreciation 
Peril is most easily defined as - the cause of loss insured against 
What is a leading factor in the determination of actual cash value - replacement cost 
Rep...
Preview 2 out of 5 pages
Add to cartIn property insurance actual cash value is defined as which of the following - Replacement cost at 
the time of the loss, less depreciation 
Peril is most easily defined as - the cause of loss insured against 
What is a leading factor in the determination of actual cash value - replacement cost 
Rep...
Special Limits of Liability for 
1. money - $200 for money or coins 
whats covered under dwelling - tures attached to dwelling 
ials/supplies on or adjacent to residence premises for construction use or alteration of the 
premises. 
ation, footings, floor slabs supporting dwelling 
-wall to wall car...
Preview 2 out of 7 pages
Add to cartSpecial Limits of Liability for 
1. money - $200 for money or coins 
whats covered under dwelling - tures attached to dwelling 
ials/supplies on or adjacent to residence premises for construction use or alteration of the 
premises. 
ation, footings, floor slabs supporting dwelling 
-wall to wall car...
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 
vehi...
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Add to cartSelect 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 
vehi...
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,...
Preview 2 out of 5 pages
Add to cartCompetitive 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,...
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 sta...
Preview 2 out of 6 pages
Add to cartYou'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 sta...
The formula for determining the area of a trapezoid is: 
Select the single best answer: 
A. [(Base1 + Base2) ÷ 2] x Height 
B. ½ Base x Height 
C. Base x Height 
D.
Preview 2 out of 7 pages
Add to cartThe formula for determining the area of a trapezoid is: 
Select the single best answer: 
A. [(Base1 + Base2) ÷ 2] x Height 
B. ½ Base x Height 
C. Base x Height 
D.
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