What is acv equation - Study guides, Class notes & Summaries

Dwelling Policy - ANSWER-Only insures property DP-1 - ANSWER-Basic Form DP-2 - ANSWER-Broad Form DP-3 - ANSWER-Special Form Dwelling Coverage A - ANSWER-Dwelling- Covers dwelling, structures attached to dwelling, and materials/supplies for the dwelling. Dwelling Coverage B - ANSWER-Other Structures- Insures buildings on premise but separate from the dwelling. Dwelling Coverage C - ANSWER-Personal Property- Covers the insured's personal property and must be requested. If rental...

SC Claims Adjuster Questions and Answers 2023 What is ACV equation? Replacement cost-depreciation What is the coinsurance formula? Cov you did have / cov should've had x loss = claim payment - deductible To serve in The Director's position they must ? Appointed by governor, member of governors cabinet, serve at governors pleasure, bonded by 50000 surety bond Powers and duties of the director Supervise and regulate rates and service of every insurer in state. Enforce i...

State Farm Exam Questions with Answers Latest 2023 Graded A+. If the Insured cancels, the Insurer is entitled to? Correct Answer: Short rate fund Conditions Section of the policy contains? Correct Answer: Insured's Obligations, Declarations section of the policy lists? Correct Answer: Information unique to the Insured's policy Insuring Agreements section contains? Correct Answer: Contains the Insurer's obligations, type of insurance provided What is Consideration? Correct Answer: The it...

State Farm questions correct answers rated A+ 2023Which must have an appointment? Consultant/producer/insured - correct answer Producer Define Pure Risk - correct answer Chance of loss with no possibility of gain The Law of Large Numbers says? - correct answer Losses become more predictable as the number of insureds increases A broker represents? - correct answer Insured A Producer Represents? - correct answer Insurer Insurance is regulated at which level? State or Federal - corre...

State Farm Exam (141 Questions with Answers) Latest Graded A+ 2023. Which must have an appointment? Consultant/producer/insured Correct Answer: Producer Define Pure Risk Correct Answer: Chance of loss with no possibility of gain The Law of Large Numbers says? Correct Answer: Losses become more predictable as the number of insureds increases A broker represents? Correct Answer: Insured A Producer Represents? Correct Answer: Insurer Insurance is regulated at which level? State or Federal Co...

State Farm Exam Test Questions with Answers 2023 (Already Graded A+) If Insurer cancels, the Insured is entitled to? Correct Answer: Pr-rata fund If the Insured cancels, the Insurer is entitled to? Correct Answer: Short rate fund Conditions Section of the policy contains? Correct Answer: Insured's Obligations, Declarations section of the policy lists? Correct Answer: Information unique to the Insured's policy Insuring Agreements section contains? Correct Answer: Contains the Insurer's ob...