State farm 2023 - Study guides, Class notes & Summaries

Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilatera...

State Farm Estimatics complete exam study guide solved questions and answers 2023 latest update 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 -Assume 3 bundles per SQ for composite shingles -Assume 4 bundles per SQ for wood What do wood shingle estimates always end with? - fourths. .25, .5, .7...

State Farm Fire Independent Policy Exam 2023- 2024 Version with All 50 Questions from Actual Past Exam and 100% Correct Answers and Rationale

State Farm Fire Independent Policy Exam questions and answers ( A+ GRADED 100% VERIFIED) LATEST 2022/ 2023 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 ...

State Farm Estimatics Exam 2023 New Latest Version with All Questions and 100% Correct Answers

STATE FARM ESTIMATICS EXAM 2023-2024 ACTUAL EXAM 150 QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES (VERIFIED ANSWERS) |ALREADY 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 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...

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...

Abandonment Condition - correct 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 - correct answer A loss that occurs at a specific time and place Actual Cash Value (ACV) - correct answer Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. admitted insurer; authorized insurer - correct answ...

State Farm Estimatics Exam Questions and Answers 2022/2023 COMPLETE SOLUTION ( A+ GRADED 100% VERIFRIED) 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.