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State Farm Prep Exam Results 1 Questions And Answers With Verified Solutions 100% Correct!!!
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State Farm Prep Exam Results 1 Questions And Answers With Verified Solutions 100% Correct!!!
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State Farm Prep Exam Results 1Questions And Answers With Verified
Solutions 100% Correct!!!
Naples Pizza is a successful 10,000 square foot restaurant that generates close to
$8 million in gross sales annually. Is this business eligible for a businessowners
policy (BOP), and why or why not?
No, because its gross sales are too high.
No, because restaurants are generally ineligible for a BOP.
Yes, because it is a successful business.
Yes, because it is less than 35,000 square feet in area. - ANSWER✔✔No, because
its gross sales are too high.
While restaurants are generally eligible for a BOP and this one is within the
35,000-square-foot limit, eligibility is restricted to businesses that generate no
more than $6 million in annual gross sales.
Mrs. Lombardi's dwelling policy denied her claim for the collapse of her deck. On
what form is her dwelling policy written?
,DP-1 Basic Form
DP-2 Broad Form
DP-3 Special Form
DP-4 Comprehensive Form - ANSWER✔✔DP-1 Basic Form
The only dwelling forms that include coverage for collapse are the DP-2 and DP-3.
The Dwelling program does not include a DP-4 form.
All the following statements regarding the commercial inland marine policy
commercial articles floater are correct, EXCEPT:
Theft is covered under a commercial articles floater.
The commercial articles floater is designed specifically to insure camera
equipment and musical instruments.
The commercial articles floater insures equipment used commercially or by
nonprofit organizations.
, Open perils coverage applies only if the insured property is stored at the insured's
premises. - ANSWER✔✔Open perils coverage applies only if the insured property
is stored at the insured's premises.
A commercial articles floater is designed to insure either camera equipment or
musical instruments used commercially or by nonprofit organizations. Open perils
coverage, which includes theft, applies wherever the property is located; there are
no limitations on the coverage territory.
The property section of a businessowners policy (BOP) provides how much
coverage for the cost of replacing or restoring electronic data that has been
destroyed or corrupted by a covered cause of loss?
up to $10,000
up to $50,000
up to $100,000
up to $500,000 - ANSWER✔✔up to $10,000
The BOP provides an annual aggregate of up to $10,000 for the cost of replacing
or restoring electronic data that has been destroyed or corrupted by a covered cause
of loss.
Which of the following correctly describes "residence premises" under a
homeowners policy?
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