State farm property exam - Study guides, Class notes & Summaries
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State Farm Property EXAM QUESTIONS AND ANSWERS COMPLETE SOLUTION
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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
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State Farm Property Exam Questions with 100% Correct Answers
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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...
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STATE FARM PROPERTY EXAM QUESTIONS AND CORRECT DETAILED ANSWERS | EVERYTHING YOU NEED TO PASS with A+
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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.
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STATE FARM PROPERTY EXAM (MAMAS TEST) QUESTIONS AND CORRECT DETAILED ANSWERS AGRADE
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STATE FARM PROPERTY EXAM (MAMAS TEST) QUESTIONS AND CORRECT DETAILED ANSWERS AGRADE
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PVL3701 EXAM PACK 2024
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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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State Farm Property Exam Questions and Answers
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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...
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State Farm Property Exam Questions with 100% Correct Answers
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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...
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Louisiana Real Estate - State Portion License Exam
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State Farm Property Exam Bundle Full Solutions Pack
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State Farm Property (Actual) Exam Solved 100% Correct
State Farm 2023 Questions and Answered 100% Correct
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State Farm Property Exam Latest 2024 Actual Questions and Verified Answers (2024 / 2025) A+ Grade 100% Guarantee Verified by Experts
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State Farm Property Exam Latest 2024 Actual Questions and Verified Answers (2024 / 2025) A+ Grade 100% Guarantee Verified by Experts
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