STATE FARM TEST EXAM COMPILATION BUNDLE

State Farm Questions and Answers Graded A+ 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, shoul...

State Farm Fire Independent Policy Exam Questions and Answers Graded A+ 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 exce...

State Farm Training Questions and Answers Graded A+ Liability Protects you if you are presumed by someone else because you hurt them No Fault/One way/PLPD Liability coverage only (no collision or comprehensive) Standard Collision Regardless of fault insured has to pay a deductible...

STATE FARM INSURANCE QUESTIONS AND ANSWERS 2023 What transfers the risk of loss from an individual or business entity to an insurance company Insurance The uncertainty of a risk or loss occurring risk A risk that can only result in a loss or no change with no opportunity for financi...

State Farm Auto Exam Questions and Answers Graded A+ 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 an...

State Farm Policy Questions and Answers Graded A+ What are Special Limits of Liability? These limits do not increase the Coverage B limit. The special limit for each of the following categories is the total limit for each loss for all property in that category: money, coins and medals, incl...

State Farm State Test Questions and Answers Graded A+ 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...

State Farm Property Questions and Answers Graded A+ 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 ...

State Farm Independent Auto Exam Questions and Answers Graded A+ 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 opportun...

State Farm Estimatics Exam Questions and Answers Graded A+ 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.

State Farm Questions and Answers Graded A+ the waiting period is 30 days as required by the Nation flood insurance program How long is the waiting period after the application has been accepted before flood coverage goes into effect? a customers camera left at a camera shop for repairs whi...

State Farm Estimatics Questions and Answers Graded A+ Removal of shingles estimate for the actual number of squares (not square feet). No estimating or rounding Replacement of shingles a) Include waste in the calculation -10% - Composite -15% - wood b) Round up to the nearest bundle -A...

State farm certification - claims adjuster Questions and Answers 2023 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 prem...

STATE FARM PROPERTY AND CASUALTY QUESTIONS AND ANSWERS GRADED A+ duties of the insured 1. pay the premium 2. take all reasonable means to save and protect the property from loss 3. give the insurance company immediate notice of loss 4. give the insurance company proof of loss within 60 days of ...