State farm property exam Study guides, Class notes & Summaries

State Farm Property Exam Questions with 100% Correct Answers which of the following refers to being restored to the financial condition you were in before a loss? indemnification mark incurred 8000$ damage to his car in an accident. he received 8000$ from his insurance company and 4000$ from the other driver. by receiving a profit from the loss, Mark is in violation of.. principle of indemnity the transfer of risk from one party to another is called insurance the principle of ...

State Farm Property Exam Questions with 100% Correct Answers Policy assignment when assignee receives full control over the policy and full rights to its benefits. Absolute Assignment Life insurance rider that allow for early payment of some portion of policy's face amount, should the insured suffer from terminal illness/injury. Accelerated benefits rider Contract must be accepted by the insured exactly as it is written by the insurer. Terms of contract cannot be negotiated. Contra...

State Farm Property Exam Questions with 100% Correct Answers Absolute Assignment Policy assignment when assignee receives full control over the policy and full rights to its benefits. Accelerated benefits rider Life insurance rider that allow for early payment of some portion of policy's face amount, should the insured suffer from terminal illness/injury. adhesion Contract must be accepted by the insured exactly as it is written by the insurer. Terms of contract cannot be negotiat...

State Farm Property xam | Questions and Answers Graded A+ Latest 2024/2025 A dealer is required to have on file the licenses of each of their employed salespersons but need not display them in their place of business - CORRECT ANSWER False A dealer must take in the title in their own name before selling a car to a retail customer - CORRECT ANSWER False A salesperson can change dealerships during the licensing year provided that the correct form and fee is submitted to the board such...

State Farm Property Exam Questions with 100% Correct Answers How long is the waiting period after the application has been accepted before flood coverage goes into effect? the waiting period is 30 days as required by the Nation flood insurance program which of the following Is covered under the camera and musical instruments dealers floater a customers camera left at a camera shop for repairs when an umbrella policy is broader than underlying insurance and it pays a loss that is not...

State Farm Property Estimatics Exam Questions and Answers 2022/2023 | 100% Verified Answers State Farm Property Estimatics Exam Questions and Answers 2022/2023 | 100% Verified Answers

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 2024 WITH 100% CORRECT ANSWERS In property insurance actual cash value is defined as which of the following - correct answer Replacement cost at the time of the loss, less depreciation Peril is most easily defined as - correct answer the cause of loss insured against What is a leading factor in the determination of actual cash value - correct answer replacement cost Replacement cost is defined as - correct answer full replacement of property at its current ...

State Farm Property exam 2024 – 2025 update with all correct answers a commercial property special form covers property in transit up to - ANSWER-5k A homeowner sells his house to a friend. the friend wants to keep the homeowners current policy in effect. under the assignment provision which of the following is most likely? - ANSWER-the homeowner will need to get written consent from the insurer before the policy can be reassigned A person who is not named as an insured on the dec page of a...

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