State Farm Auto 2024 Bundled Exams Full Solution Pack with solved 100%

In property insurance actual cash value is defined as which of the following - Answer-Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - Answer-the cause of loss insured against What is a leading factor in the determination of actual cash value - Answer-...

Abandonment Condition - Answer-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 - Answer-A loss that occurs at a specific time and place Actual Cash Valu...

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 st...

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

Select Service Program - Answer-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 estimat...

Competitive Bids - Answer-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...

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.