State farm property exam - Study guides, Class notes & Summaries

State Farm Property EXAM QUESTIONS AND ANSWERS COMPLETE SOLUTION State Farm Property EXAM QUESTIONS AND ANSWERS COMPLETE SOLUTION State Farm Property EXAM QUESTIONS AND ANSWERS COMPLETE SOLUTION

State Farm Property Exam Questions with 100% Correct Answers 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. Abandonment Condition A loss that occurs at a specific time and place Accident Today's replacement cost minus depreciation. Depreciation from wear and tear, or obsolescence. Actual Cash Value (ACV) Company that meets a state insurance d...

STATE FARM PROPERTY EXAM QUESTIONS AND CORRECT DETAILED ANSWERS | EVERYTHING YOU NEED TO PASS with A+ If a property is covered by comp a for 20k and comp b covers the same property for 40k, how much will comp a pay on a 24k loss? - ANSWER-8000 pro rata liability applies each policy pays a percentage of the loss based on the percentage of coverage that policy provides.

STATE FARM PROPERTY EXAM (MAMAS TEST) QUESTIONS AND CORRECT DETAILED ANSWERS AGRADE

State Farm Property Exam Questions and Answers  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 the determination of actual cash value replacement cost Replacement cost is defined as full replacement of property at its current cost, new and without reduction for depreciation Property insura...

State Farm Property Exam Questions with 100% Correct Answers Who owns thier renewals Independents Events that may NOT be recovered by insurance are Gambling, investing, market value of home What underlying coverages typically are required for an umbrella Auto and Personal Conditions that prohibit assignments of the policy Transfer of rights and duties Expectant interest are Not insured Flood, power failure and earth movement are Excluded on DP & HO What are t...

PVL3701 - Law Of Property PVL3701 EXAM PACK 2024 MCQ 1. Indicate the correct option. Which one of the following things can be regarded as a res nullius? (1) a domesticated tiger living in his owner‟s house (2) an impala roaming in the bushes (3) a Persian cat lying on the neighbor‟s patio (4) a springbok kept on a private game farm for hunting purposes ANSWER: Option 2 is correct. A res nullius is a thing which does not belong to anyone. All creatures that are wild by natu...

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