State farm property - Study guides, Class notes & Summaries

State Farm Property xam | Questions and Answers Graded A+ Latest 2024 What are considered parts of the policy structure - CORRECT ANSWER conditions, exclusions, insuring clause 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? - CORRECT ANSWER the homeowner will need to get written consent from the insurer before the policy can be reassigned What is consider...

State Farm Property xam | Questions and Answers Graded A+ Latest 2024/2025 control of property - CORRECT ANSWER protects against negligent acts of noninsureds other insurance - CORRECT ANSWER concerns property that is insured by more than one policy legal action against an insurer - CORRECT ANSWER says when an insured my sue the insurer subrogation - CORRECT ANSWER insurer can sue third parties for damages to the insured liberalization - CORRECT ANSWER when an insurer increases its...

State Farm Property xam | Questions and Answers Graded A+ Latest 2024/2025 control of property - CORRECT ANSWER protects against negligent acts of noninsureds other insurance - CORRECT ANSWER concerns property that is insured by more than one policy legal action against an insurer - CORRECT ANSWER says when an insured my sue the insurer subrogation - CORRECT ANSWER insurer can sue third parties for damages to the insured liberalization - CORRECT ANSWER when an insurer increases its...

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 and Answers Graded A+ Latest 2024/2025 which of the following refers to being restored to the financial condition you were in before a loss? - CORRECT ANSWER 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.. - CORRECT ANSWER principle of indemnity the transfer of risk from one party to an...

State Farm Property Exam | Questions and Answers Graded A+ Latest 2024/2025 preferred, standard, substandard, or decline - CORRECT ANSWER The four ways risks are classified. primary insurance amount (PIA) - CORRECT ANSWER Amount equal to covered workers full Social Security retirement benefit or disability benefit. probationary period - CORRECT ANSWER A period of time between the issuance of a policy and the date coverage begins. proof of loss - CORRECT ANSWER A mandatory NAIC provis...

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 and Answers Graded A+ Latest 2024/2025 preferred, standard, substandard, or decline - CORRECT ANSWER The four ways risks are classified. primary insurance amount (PIA) - CORRECT ANSWER Amount equal to covered workers full Social Security retirement benefit or disability benefit. probationary period - CORRECT ANSWER A period of time between the issuance of a policy and the date coverage begins. proof of loss - CORRECT ANSWER A mandatory NAIC provis...

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 ...