State Farm Fire Independent Policy Exam Questions & 100% Correct Answers- Latest Test | Graded A+ | Passed
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Course
State Farm Fire Independent Policy
Institution
State Farm Fire Independent Policy
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 fo...
State Farm Fire Independent Policy Exam
Questions & 100% Correct Answers- Latest
Test | Graded A+ | Passed
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 insured to relocate in
permanent living quarters, but not to exceed 24 months.
C. ALE payments can run beyond the expiration of the policy.
D. ALE payments are limited to incurred costs for the shorte
✓ -:- E. ALE payments will not exceed 20% of Coverage A limits.
The insured has a HO-3 policy in force. All of the losses are covered except:
Section I - Losses Insured, Coverage B - Personal Property and Section
I - Additional Coverages.
Under an HO-3 policy, deductibles apply to which of the following type(s) of
losses.
Select the single best answer:
A. Credit Card, Bank Fund Transfer Card, Forgery and Counterfeit Money
B. Fire Department Service Charges
C. Rekey locks after keys are stolen
D. Debris Removal Charges
✓ -:- B. Fire Department Service Charges
In the HO-3 policy, Coverage C consists of three coverages:
Additional Living Expense
Fair Rental Value
Property Removed
3|Page | Grade A+| 2024/2025
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