State Farm Property Exam Questions with 100% Correct Answers
0 view 0 purchase
Course
State Farm Property
Institution
State Farm Property
State Farm Property Exam Questions with 100% Correct Answers
Who owns thier renewals
Independents
Events that may NOT be recovered by insurance are
Gambling, investing, market value of home
What underlying coverages typically are required for an umbrella
Auto and Personal
Conditi...
State Farm Property Exam Questions with
100% Correct Answers
Who owns thier renewals
Independents
Events that may NOT be recovered by insurance are
Gambling, investing, market value of home
What underlying coverages typically are required for an umbrella
Auto and Personal
Conditions that prohibit assignments of the policy
Transfer of rights and duties
Expectant interest are
Not insured
Flood, power failure and earth movement are
Excluded on DP & HO
What are the 3 principle rating factors for personal auto
1) safe driving record 2) annual miles driving 3) years of driving experience
Fail Plan doesn't not encourage
Competition
Loss exposures that results in a claim for monetary damage due to injury to another or damage to
another's property?
Liability Loss Exposure
The persons whose property is being insured is the
Insured
The person seeking for damage is the
Claimant
When the insurer cancels, the premium is refunded
Pro-Rata
Representation can qualify as an
Implied Warranty
Fire Dep. service charge, reason repairs and debris removal are considered what on an HO?
, Additional Charges
In an HO coverage for fair rental is included in
Coverage D
How is combined ratio computed?
Adding Loss + Expense Ratio
Not purchasing collision coverage for your car is an example of risk
Retention
Not purchasing a motorboat is an example of
Avoidance/ elimination
Installing sprinkler system in your home is an example of risk
Reduction
Purchasing homeowners policy is an expanse of risk
Transfer
Source of investment funds, payments for losses, reduction in financial uncertainty are considered
Benefits of Insurance
Unintentional or intentional concealment allows the insured or insurer to
Rescind
Personal auto policy medical pay,nets limiters are
Per person
Personal auto liability and insured motorist limits are
Per occurrence
Perils for inland marine are
Open Perils
Ho medical pay,eggs coverage F does not apply to _____ or _______ acts
Jet Ski / intentional
The intent to do or not to do something that materially affects the risk is a
Warranty
Landslide, mine subsidence and earth tremors caused by a volcanic eruption are considered
Earth Movement
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EXAMSMART. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.89. You're not tied to anything after your purchase.
